Tuesday, August 12, 2014

Federal Aid Is Likely Driving College Costs Up

Federal Aid Is Likely Driving College Costs Up


Federal financial aid for higher education was supposed to grow the market, bring down costs and help families afford this critical step to financial security.

But a recent report finds the effort to provide educational assistance to students has turned into decades of unaccountable federal spending on higher education.

According to the report from the Center for College Affordability and Productivity, the federal student aid system “contributes to skyrocketing costs, finances a wasteful academic arms race, weakens academic standards, lowers educational opportunity, and worsens the underemployment/overinvestment problem.”