Cost of college: Government push to gauge students’ bang for their buck gains steam
Sens. Ron Wyden (D., Ore.) and Marco Rubio (R., Fla.) are expected to reintroduce this week legislation that would require states to make more accessible the average salaries of colleges’ graduates. The figures could help prospective students compare salaries by college and major to assess the best return on their investment…
High-school seniors now trying to decide which college to attend next fall are awash with information about costs, from dorm rooms to meal plans. But there is almost no easy way to tell what graduates at specific schools earn—or how many found jobs in their chosen field. Supporters say more transparency is needed as students graduate deeper in debt and enter the rocky job market.
The Wyden-Rubio bill doesn’t spell out exactly how this information has to be assembled. The goal is that students and parents could use the U.S. Department of Education website to query data from all 50 states. But the bill relies on states to knit together wage data submitted by employers with information on graduates submitted by colleges.









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Great, just what we need, more Federal intervention in the economy with burdensome regulation by forcing people to become dependent on a useless Federal department which soaks up money like a dry sponge.
Thanks, Marco!
Dusty on February 12, 2013 at 7:33 PM
What is the point? Everyone knows what to major in to get a job already. If the Feds get out of the student loan business, the private market will take care of matching education costs (and student loan amounts) with value of the degree.
Or, if the Feds absolutely must stay in the student loan racket, the least they can do is use this type of information to revoke or severely limit government backed loans for worthless and next to worthless degrees.
besser tot als rot on February 12, 2013 at 7:46 PM
This is in the wsj, and I can’t read the article. But I think this is a dumb extra regulation coming from the government, just because some people have a pet peeve that not everyone needs a college degree.
It is make work that will require them to hire more useless bureaucrats. Most admissions offices and alumni associations put this kind up info up where you can see it as a matter of pride. if it’s not there, the PARENTS, not the Government should pay heed. It will do no one any good to see that people that graduate from Georgetown Law can afford birth control right on their first job. And Harvard Law too. Just make parents anxious that they don’t have that kind of money for Ivy graduate schools.
Here are some remedies that would fix some of what you see as over enrollment in college and the student loan boom.
1. Make Pell Grants Merit based. Sorry, you don’t get x on the SAT/ACT, sorry again, I know it’s unfair, and you didn’t get all A’s because some teachers were Mean. How about A’s and B’s? And No Pell Grant if you did not get through college prep math and science. College is not the place to waste money on remedial high school classes. It is NOT unfair if you can’t go to college because you did not finish college prep classes, it is your own fault? Repeat 12th grade until you get it right?
2. Pell Grant students get only one school year to fail, then they have to go home and think about it.
3. Make admissions Merit based and financial aid Need Blind, so that the most meritorious students receive the financial aid. Most middle class families taking out those student loans today, used to get the merit scholarships when you baby boomers were in college. Today’s Pell grant scheme uses up all the money with this rule: Pell grant students have to have their Need filled 100% before any money can be spent on Merit Scholars and middle class families who are more prepared for college, but still unable to pay…and Merit scholarships are considered Unfair, when really they are the only way forward. Without the Pell grant system, you can charge parents the cost, and not the cost of their own kid plus more to cover the Pell grant student. This is the practice at many colleges, where they know how many full paying parents they need to admit to balance the books. Non profits should not profit off one parent to pay for another…at least without giving you a tax deductible receipt.
I think the problem is not that you don’t NEED a college degree to work at, say, The Banana Republic, but that most college graduates were not intending on working their after they graduated.
And another problem I do see is, that businesses used to like to take the liberal arts graduates because there were literate and easily trained, but most businesses today think the government ought to do all the customized training that their business needs, or the community college ought to do it, they won’t invest in the skills for their own companies because they want something “back” from government. And unless a school is able to work with a company, customized employees are still a ways off.
Conservatives cannot spend their time being Mad at the colleges and the young people that are raised up to study hard and were told they could then make something of themselves. They might spend their time getting on boards of Trustees and seeing how the money is spent, and curbing some of the liberal insanity that is forced on the kids there. Especially the republican governor’s in states with big state universities.
Fleuries on February 12, 2013 at 7:49 PM