This week I read an article on nytimes.com about President Obama's proposed plans to help more people obtain a college degree by redistributing federal aid to reward universities that work on minimizing tuition costs, by creating a "college scoreboard" that will rate colleges on costs, graduation rates, and earnings potential of graduates, and by reducing federal student loan interest rates. Although this is an idealistic attempt to eventually reduce the nation's unemployment rate and reduce the increasing gap between the rich and the rest of us, there are many that believe this proposal will fail.
According to a similar article on yahoo, the idea of awarding schools with minimal tuition costs and higher graduation percentages with more financial aid dollars will give the middle class a better chance of being able to send their children to college and be more successful in their careers. The biggest problem with this concept, however, is the fear that encouraging universities to cut tuition costs will inevitably diminish the value of the degrees earned by the students. Without the proper funding, schools will be unable to hire the best professors, provide the best facilities, or furnish the best technology and supplies needed to provide the best education. According to Senator Lamar Alexander, former Secretary of Education, schools "could offer three year degrees, or operate more in the summertime" as well as find other ways to reduce costs and maximize educational production. Another problem with this approach is the fact that many states are suffering through financial woes which are also contributing to rising tuition rates.
The next major part of the President's proposal is the implementation of a "college scoreboard". This scoreboard would ideally be a measuring stick for higher level education institutions. Colleges would be ranked based on three criteria; costs, percentage of students graduating, and earnings potential. Yahoo compared this idea to food labels that provide nutritional facts, saying that it would make it easier for people to find a school that provides results, but is also affordable. The problem with this measuring system is that it doesn't take into consideration certain intangibles. Prestigious universities may cost significantly more than other schools, and may have a higher dropout rate due to the difficulty of their programs, but those who do obtain a degree from these universities will have a greater advantage than those with degrees from less noteworthy schools. According to the American Council on Education, institutions that focus on certain types of degrees would benefit from this while others would lose funding due to the costs of operating their programs. This general rating system would not necessarily find the best school for every student.
Another proposition the President made was to reduce interest rates on federally funded student loans to make education more affordable. This is definitely a better way to put taxpayers' money directly into the hands of other taxpayers in an attempt to better our society. When comparing this idea to rewarding schools for cutting corners, the first thing I think of is the Economic Stimulus Package of 2008. When federal funding is given directly to institutions or corporations, we have already seen that it doesn't necessarily trickle back down into the hands of the taxpayers. Of all of the proposed changes of this plan, I feel that this one makes the most sense, however, according to csmonitor.com this does not appear to be a realistic approach to saving people money on education. The article states that the Republican leaders of the House Education and the Workforce Committee is against keeping student loan interest rates low due to the fact that a Democratically controlled congress has already kept these rates too low since 2007 and claims that Democrats “chose to make false promises to borrowers and kick the can down the road”.
This leads me to my last, and most important point. The President is campaigning for his job. He is trying to show concern for average Americans and convince them that he has plans to help us. The problem is in order for these plans to be put in motion, Congress would have to approve them. The lack of willingness for political parties to work together to resolve issues that affect the majority of Americans has been too apparent during Obama's presidency. The likeliness that Congress would even consider voting on these measures is extremely slim. The possibility of inadequacy of any or all of Obama's proposals, accompanied with the uncertainty that comes with a pending presidential election, will prevent these plans from going into motion. As a student and a father, I definitely hope that we can find more affordable ways to promote success in school and life in the future, but these proposals are not the right answer.
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