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Cross-posted from the Chronicle of Higher Ed.   Over all, I’m a fan of President Obama’s proposal to rate colleges and link the results to financial aid. The plan is to give students attending institutions rated high—on such measures as tuition and graduation rates, debt and earnings of graduates, and the percentage of low-income students enrolled—larger grants, as well as lower-interest loans. The proposal ends the “tinkering” that most higher-education reform has pursued; it aims squarely at the main drivers of college costs: private and for-profit institutions (and their happy followers, the elite public flagships) and states. That is the approach my colleagues and I argued for in a recent paper for the American Enterprise Institute. “Recent national opinion polls indicate that 74 percent of Americans believe that higher education is unaffordable, and 92 percent of college presidents agree,” we noted. “While analysts have offered several potential explanations for ...

The following is the second post in a two-part series by Robin Rogers, associate professor of sociology at Queens College and the Graduate Center at the City University of New York (CUNY). For more about Robin and her first post, click here . Before I jump into policy experiments, I want to reflect on the enthusiastic response that I received from last week’s Part One of Billionaire Education Policy . If I could summarize the response with one word, it would be relief. A lot of people who work in education, philanthropy, and government are wary of the rise in billionaire policymaking, but are reticent in voicing their concerns. Perhaps this is fear of retaliation -- what Edward Skloot calls the “ Brass-Knuckles philanthropy ”of the Gates Foundation. But I see another, more heartening piece to this puzzle. People in the philanthropic and advocacy communities don’t want to harm the mission of philanthropy. We fear that revealing the pitfalls of billionaire philanthropy might have some u...