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The last week was swept away by Hurricane "Pay It Forward," a new bill advanced by progressives in Oregon. Starting last Saturday I began engaging via Twitter with folks interested in debating its merits, by Sunday night I was knee-deep in a full analysis, and by Wednesday morning that analysis was published by the Century Foundation and NPR gave me an opportunity to discuss the issues On Point .  In between, I was fortunate enough to be introduced to both Barbara Dudley and John Burbank , key architects of the plan. I thoroughly enjoyed getting to know both of these incredible activists, and thrilled that they share many of my concerns and end goals. The number of legislators and members of the media who are continuing to express interest in learning more and building on this plan is amazing.  In a key respect, it's also wonderful: people really want to do something NOW  to make college more affordable and reduce student debt.  It's about time! With that in mind, ...

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...