https://www.nationalreview.com/2020/02/saving-higher-education-student-constitutional-rights-truth-in-lending-standards/
Start by guaranteeing students’ constitutional rights and holding schools to truth-in-lending standards.
D espite the denials of universities boards, administrators, and faculty, American higher education, particularly in the humanities and social sciences, is a hopeless mess. What basis is there for such a harsh diagnosis?
One, a college education is far too expensive. Nearly 45 million young Americans owe $1.5 trillion in student loans — a staggering sum unmatched in American history. Millions have either defaulted on their loans or are able to pay only the interest and are making no progress on the principle.
Universities have for decades upped their tuition and services higher than the rate of annual inflation. Yet they deny they have any responsibility for the staggering student debt, even though the encumbrances have altered the U.S. economy, culture, and demography. One of many reasons youth are marrying later, delaying child-rearing, and unable to buy a home is that so many of them are burdened well into their late twenties and early thirties with student-loan debt, on average over $30,000 per student. Again, the university more or less shrugs, insisting it has no responsibility for this collective national disaster that it helped create
The student-loan crisis could be alleviated if universities, not the federal government, were the co-signers of the loans, which would make them share with students the moral hazard of loan repayment. Instead of spending superfluously on “diversity and inclusion” czars and entire castes of non-teaching facilitators, universities would have incentives to lower non-teaching costs. It would be in their own financial interest to ensure that students could minimize debt by graduating within four years, and also to invest in job placement for their graduates, so they could move into the full-time workforce months after finishing school.
Two, universities have no methods to analyze whether students are, in fact, better educated after they graduate than when they enrolled. While most colleges still demand to see applicants’ standardized SAT or ACT scores, so they can judge the relative quality and significance of their high-school grade-point average, they allow no such audits on the efficacy of their own four-year course of study.