Education Official Calls for College Cost Controls Now
The U.S. Department of Education is calling for colleges and universities to be more proactive in containing costs. A recent article in the New York Times, “Official Calls for Urgency on College Costs”, puts over-the-top college costs back in the spotlight, quoting Education Secretary, Arne Duncan, as he urged higher education officials to “think more creatively and with much greater urgency about ways to contain costs and reduce student debt.”
As student debt spirals out of control—the average college senior with loans now graduates with an average outstanding debt of more than $25,000, more —college costs are back in the hot seat.
The article goes on to state that according to Patrick M. Callan, president of the Higher Education Policy Institute, “We’ve put huge amounts into Pell grants under Clinton, Bush and Obama, but the money that went into financial aid has been absorbed by tuition increases.”
But the federal government can only do so much. The article points out “as college becomes increasingly more expensive, according to Mr. Duncan, it has also become an increasingly important investment.”
Mr. Duncan praised colleges, universities, and state programs that have proactively cut tuition as well as those with programs that increase educational attainment, while lowering costs.
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