Yesterday Time Magazine published articles by President Obama and Governor Romney on their higher education policies. Both paint a rosy view of a college degree but offer few specifics on how to best facilitate it. Obama speaks highly of his college days, acknowledging that “Michelle and I are who we are only because of the […]
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When asked the question, “Why do colleges keep raising tuition fees?” I give answers ranging from three words (“because they can”), to 85,000 (my book, Going Broke By Degree). Avoiding both extremes, let’s evaluate two rival explanations for the college cost explosion, followed by 12 key expressions that add more detail.
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It’s called “the Bennett Hypothesis,” and it explains–or tries to explain–why the cost of college lies so tantalizingly out of reach for so many. In 1987, then Secretary of Education William J. Bennett launched a quarter century of debate by saying, in effect, “Federal aid doesn’t help; colleges and universities just cream off the extra […]
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