The Right Needs To Adopt This Revolutionary Higher Ed Reform Plan Now By Willis L. Krumholz for The Federalist
The higher education system is rotten to its core — economically, ideologically, and spiritually. Instead of tinkering around the edges, it’s time for conservatives to actually fix the root problems.
Far too many pundits believe culture is upstream from politics. That might be true, but bad policy is often upstream of culture. And it is shocking how often Republicans use the “culture” trope as an excuse for long-running inaction and lack of serious thought on needed policy changes.
One such example is higher education. Speakers such as Heather Mac Donald have done an excellent job of highlighting examples of the far-left bias that is prevalent at America’s higher ed institutions. Conservative YouTube channels are great at highlighting the perils of conservative speakers attempting to speak on various campuses.
But few address the elephant in the room. Taxpayers are heavily subsidizing the entrenched and blatant anti-American and anti-Christian bent in our colleges and universities.The huge budgets of these colleges — and their ability to pay professors well over six figures to teach for only several hours a week, only during the school year — is entirely the result of choices our elected officials have made.
The Predictable Rise of College Costs
It started in 1965, when as part of Lyndon B. Johnson’s fateful Great Society, Congress passed the Higher Education Act. Among other things, the legislation introduced subsidized student loans to increase the number of Americans attending college, and it has been reauthorized multiple times since. Ever since, the terms of those loans have become more generous (the subsidization has increased).
The effects have been predictable, and many did predict them. For example, Democrat Sen. Daniel Patrick Moynihan, early in his career as a policy wonk, warned the system would lead to higher college costs.
Generally speaking, more money chasing after something raises its price. But the money chasing after higher ed is uniquely dulled of its price sensitivity. Borrowers are young and have little perspective about how much they are borrowing. These young, subsidized borrowers are also robbed of price signals, as everyone gets the same rate no matter what major he or she chooses.