How To Start Fixing America’s Higher Education Crisis

The most striking thing about fixing American higher education is that the direct costs look surprisingly small. The major obstacles are political, not financial.

How much would it cost to fix American higher education? Think big. In 2015, colleges and universities spent about $532 billion to teach 20.5 million students enrolled in two-year and four-year colleges.

That $532 billion figure is the lowest estimate in circulation. The National Center for Education Statistics gives the figure as $605 billion for 2013-14. But let’s stick with the humble $532 billion.

So how much would it cost to fix our $532 billion worth of colleges and universities? The answer depends, of course, on what you think is wrong with them and which of the possible repairs you favor. But let’s not get overly complicated…. continue reading

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