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Cross-posted from the original over at the Chronicle of Higher Education.  “There’s no such thing as free money,” Joanne, a middle-aged African-American mother of two sitting across the table from me declared. “But for me, getting this college degree depends on whether I have enough money to afford it.” Solving the problem of college affordability lies at the heart of the Bill & Melinda Gates Foundation’s $3.3 million Reimagining Aid Delivery & Design project, which has spurred a series of reports covered weekly in the news this year. While the reports run the gamut of possible suggestions, from tying aid to students’ academic backgrounds to replacing the Pell Grant with a federal-state matching grant, they all have a similar refrain: Whatever the solution, it must be cheaper—it simply isn’t possible to request any additional spending. Similarly, when I visit Washington policy makers and talk about the needs of the Pell Grant recipients I’ve been studying for th...

The following is a guest blog post by Robert Kelchen, graduate student in Educational Policy Studies at UW-Madison, and a frequent co-author of mine. --Sara I was pleased to see the release of Education Sector’s report, “ Debt to Degree: A New Way of Measuring College Success ,” by Kevin Carey and Erin Dillon. They created a new measure, a “borrowing to credential ratio,” which divides the total amount of borrowing by the number of degrees or credentials awarded. Their focus on institutional productivity and dedication to methodological transparency (their data are made easily accessible on the Education Sector’s website) are certainly commendable. That said, I have several concerns with their report. I will focus on two key points, both of which pertain to how this approach would affect the measurement of performance for 2-year and 4-year not-for-profit (public and private) colleges and universities. My comments are based on an analysis in which I merged IPEDS data with the Educat...