A MODEST PROPOSAL TO CUT UNIVERSITY COSTS BY 10 PERCENT–FIRE THE DEANS!
In the last forty years, there has been a revolution in management theory, largely driven by insights of W. E. Deming and the Quality Circles model, first implemented successfully in Japan and largely responsible for the revival of Ford in the U.S. This new model flattens the hierarchical structure of management, eliminating layers of middle-level […]
UNSUSTAINABLE HIGHER ED SPENDING
The Obama administration claims that the budget approved by the House of Representatives, authored by House Budget Committee Chairman Paul Ryan, would “slash” Pell Grant funding. The White House argues the budget would mean “students would see their Pell Grants fall by more than $1000 in 2014, and, over the next decade, over one million […]
YET ONE MORE EXAMPLE OF HOW PUBLIC UNIVERSITIES WASTE TAXPAYERS’ DOLLARS
In present economic times when the continuation of jobs and positions in higher education is uncertain, some university departments have found novel ways to ensure they will be “needed”. A prime example is the Institutional Review Board (IRB). The IRB was originally established to ensure that research is performed ethically and to protect the […]
Care About The Poor? Consider Consequences
On the day of the second presidential debate, I had the pleasure of participating in a panel discussion at debate-host Hofstra University. The topic was “defusing the student loan debt bomb,” and I was the lone voice calling for an end to inflation-fueling federal student aid. My co-panelists were Tamara Draut of the think tank […]
RISING COLLEGE COSTS: FOLLOW THE MONEY
In the very earliest pure academic settings, say in ancient Athens, the salaries of instructors exactly equaled the tuition payments made by the students. I assume Socrates charged his students tuition, which he then used to cover his living expenses. Fast forwarding two thousand years, Adam Smith famously pointed out in the Wealth of Nations […]
WHAT ABOUT THE SUPPLY SIDE?
In my last two blog posts, I have argued that college affordability is largely in the hands of higher education consumers. Only when students and families begin to change their behavior on the margin will we begin to see higher education expenditures reigned in. A recent report from educational lender Sallie Mae suggests that this […]
Texas Governor Rick Perry’s Challenge to Higher Education
Time was – boy, do I know; I was there – when a four-year University of Texas degree – food and housing included — could be had for $5000 (about $37,000 in 2012 terms). Try wrapping up a single academic year nowadays for less than 30,000 of today’s bucks. By the way, median American […]
THE (POLITICAL) COST CONUNDRUM
For higher-education analysts – or just people who’ve cogitated over higher ed – it’s not hard to discern that student aid, especially taken from taxpayers, enables colleges to raise their prices at accelerated rates. Not all observers acknowledge this reality, of course, but the logic is straightforward: If someone gives all customers more money to […]
Education Savings Accounts Could Help Parents Afford College
In the continuing quest to make college more affordable, let us now consider an innovative idea that comes to us from the arena of K-12 reform. A new report from the Friedman Foundation for Educational Choice makes the case for “a unique delivery system called education savings accounts (ESAs), which have the ability to increase […]
A Federal College Scorecard?
With rapidly rising college tuition and many graduates unable to get employment in their field, there’s a growing demand for better value for money in higher education. But a challenge for most would-be college students is how to know whether a particular college is or is not a bargain. Like buying health care or hiring […]