Here’s how to ‘shake up’ higher ed

By Joanne Jacobs. If President Obama really wants to “shake up” higher education, he should start by scaling back student loans, writes economist Richard Vedder on Washington Monthly‘s College Guide. That means dropping loans to affluent parents and the federal tuition tax credit, limiting student borrowing and, ultimately, getting the federal government out of the student-loan business.
Colleges that benefit from student loans and grants should share some costs of high default rates, Vedder argues. That would discourage colleges from enrolling students with little chance of success. (Politically, this is a big loser.)
Next, consumers need better information, he writes. Read more...