"Pay It Forward" or "Pay It Yourself?"
The evidence is clear: the current system of financing postsecondary education in America fails to match the desire of its people or the needs of this ambitious nation. Growing demand for the education and training that college provides has helped propel millions into public institutions providing postsecondary education, which history predicts would lead to calls for a greater role in the provision of that education. Yet as the fraction of adults enrolling in college has increased, college costs have been transferred from government to individuals. In particular, many state governments have decreased per-student appropriations , slashed the fraction of tax revenue devoted to financing higher education, and done little to contain costs at public institutions. These moves put today’s students and many future generations at risk of significant debt that could compromise their investments in family, education, and work. In true “perfect storm” fashion, this transfer of responsibility...
