Today I am announcing my support for bipartisan legislation which would require private and public universities and colleges to increase transparency about the costs of higher education so that families can make more informed decisions.Mr. Hanna bemoans the skyrocketing cost of higher education . . . and then offers as a solution government-forced "accurate information" from each as a solution.
The Truth in Tuition Act would specify that every college provide each student admitted with a multi-year tuition and fee schedule, or a single-year tuition and fee schedule with a multi-year estimate of net costs. . . .
First, Mr. Hanna's proposal is maddening. We borrow 40 cents out of every federal dollar spent and now he proposes spending more money (because someone has to define and enforce these requirements) to achieve a result that individual students and their parents can achieve by simply doing their homework and making proper inquiries. In addition, there have long been publications that provide most of this information.
Second, his proposal does nothing to contain costs. And perhaps it should not.
The entire federal system of grants and student loans that was intended to make higher education "more affordable" has had the opposite effect by providing a ready pot of money for educational institutions to tap into . . . encouraging them to raise raise tuition, fees and their own costs of labor for instructors and fixed costs for fancy digs.
Now we have thousands of graduates about half of whom cannot find a job requiring their degree that are in debt up to their ears that they are unable to pay off.
More government involvement is not the way to go. It will only muck things up more than it already is.