March 22, 2011

Are We Getting Our Money's Worth in Higher Education?

By Aaron Gee
President Obama has stressed that a college education is critical to the future of America and our ability to compete in the world marketplace. To achieve that aim, our government is spending 60% more in 2011 than 2008 and providing 123% more in tax breaks for post secondary education (i.e., college). The Government has taken over all federally backed student loans, pushing almost all private lenders out of the 100 billion a year market.But are we getting our money's worth?One of the hallmarks of bad government is spending that is out of proportion to what is actually bought. Think 500 dollar hammers and 1200 dollar toilets seats. Ensuring that taxpayers get what they pay for at a fair price is doubly important in this age of a 14 trillion dollar national debt. When the conversation turns to such ephemeral ideas as a good education, measuring value for money is rarely talked about. Perhaps we had better start considering some of the salient statistics;The median debt for a student...(Read Full Article)