Martin Center Column Explores Biden’s Potential Impact on Higher Ed | Beaufort County Now | Ross Marchand writes for the Martin Center about the new president’s approach to higher education policy.

Coronavirus Disease 2019 (COVID-19)

Martin Center Column Explores Biden’s Potential Impact on Higher Ed

Publisher's Note: This post appears here courtesy of the John Locke Foundation. The author of this post is Mitch Kokai.

    Ross Marchand writes for the Martin Center about the new president's approach to higher education policy.

  • Now that President Biden has been sworn in as the 46th president, he wants to hit the ground running and attend to urgent priorities. One of his first moves was to extend student loan payment deferrals until October, buying time for further reforms to America's higher education system.
  • Deferrals will be one small part of a larger strategy to shift higher education costs away from borrowers and toward taxpayers, regardless of cost and consequences. Rather than creating a bank-breaking new strategy to subsidize (predominately) well-off graduates, President Biden should offer low-income students better alternatives to the broken status quo.
  • Millions of lives and livelihoods hang in the balance.
  • President Biden has been clear that suspending loan payments and interest is just the beginning of a large-scale shift in how higher education is financed. On the campaign trail, Biden took a page out of Sen. Bernie Sanders' playbook and proposed $10,000 in student debt forgiveness for all borrowers. That sounds nice until you consider that the poorest 25 percent of households (families earning less than $27,000) hold less than 15 percent of all higher education debt. Six-figure households in the top 25 percent hold the most of all student debt (34 percent), followed by the next-highest quartile at 29 percent.
  • In other words, the majority of gains from any student loan forgiveness program would accrue to richer Americans in a better position than their peers to pay off their IOUs.
  • Biden also wants to make loan programs more generous for current and future students. These policies would create even more unintended consequences. Colleges tend to respond opportunistically to more federal subsidies by raising tuition prices, capturing gains that would otherwise go to students. ...
  • ... While fans of humble government have found much in Biden's vision for higher education to be critical of, he has an opportunity to reform the system and help struggling students instead of doubling down on the failed status quo.

Go Back

HbAD0

Latest Op-Ed & Politics

If you know anyone in Alaska please send them a link to this post and or send this lady a contribution
Gov. Roy Cooper pushes wind energy panacea via executive order, but Chairman of the N.C. Energy Policy Council Lt. Gov. Mark Robinson deems the move an overstep of authority that does not ‘follow the science'
The nation’s federal prison system is in hot water again, this time for security failures that allow inmates to escape undetected.

HbAD1

Leave it to the Donald to lay it out
87% of respondents, who are likely Republican primary voters, view former president Donald Trump favorably
North Carolina Senator Natasha Marcus, D-Mecklenburg, has been spreading falsehoods about N.C.’s donor privacy bill.

HbAD2

Two bills, which would allow medical professionals who aren’t doctors greater latitude in serving patients, are advancing in the Senate.
Congresswoman Ilhan Omar is at it again, this time comparing the U.S. and Israel’s actions in the Middle East to those of Hamas and the Taliban.
A county in California has revised their COVID-19 death total down 25% — by 411 cases — after initially counting all deaths with a positive COVID-19 test as a COVID-related death.
Recently, U.S. Senator Thom Tillis (R-NC) introduced the Hazard Eligibility and Local Projects Act (HELP Act) and the Strategic Acquisition and Floodplain Efficiency Reform Act (SAFER Act), legislation to help communities recover from natural disasters.
What about the part of Washington outside the Downtown?

HbAD3

 
Back to Top