Federal Policy Might Encourage Innovation to Cut the Cost of College

There are alternative education models that could enable colleges and universities to offer degrees more efficiently and affordably.

As college-bound high school seniors and their families brace for that first tuition bill, many are certainly asking themselves: Why does college have to cost this much?

A big factor in the rise of college costs-which has outpaced household income gains for decades-is the traditional seat-time model. This requires undergraduate students to spend a specified amount of time in classrooms, frequently with doctorally qualified faculty. But there are alternative models that could enable colleges and universities to offer degrees more efficiently and affordably.

In other cases, students can earn credits for things they already know by taking an inexpensive test such as the College Board’s College Level Examination Program (CLEP). Students with military or workplace experience often can progress quickly through these competency-based programs to earn their degree at a modest cost.

These kind of programs could significantly reduce the costs of higher education-but there is one hitch. Such approaches may not be compatible with federal financial aid regulations. And if their students can’t qualify for financial aid, most colleges won’t invest in developing these innovative models.

An update of the Higher Education Act, which gained momentum this spring, provides an opportunity for Congress to consider how to balance quality with innovation. The current law makes financial aid eligibility all-or-nothing, but technological advances might warrant reconsideration of that approach. If technology allows institutions to provide genuine college-level learning without much faculty involvement, perhaps such programs can be granted lower federal financial aid allowances. That flexibility might encourage innovation in educational delivery and save colleges and students money.

Charles A. Goldman is a senior economist at the nonprofit, nonpartisan RAND Corporation and a professor at the Pardee RAND Graduate School.

Related posts:

When we announced the Vernam project, we said that our intention is nothing less, but to revolutionize a $4.73 trillion industry. Since day one we’ve been tirelessly working on our mission. Last week…

I bought a pair of the Aftershokz Sportz Titanium (with Mic) recently and having been using them for longer duration. The price of these kind of headphones have always been quite high and I was…

After wandering this site for 1 hour, my teammate blamed me again and told me to find any folder hidden with burpsuite and i found this Name of this challenge is Jade Gate, what makes you interested…