President Obama outlined a plan to tie increases in federal funding to cuts in tuition. He put colleges on notice that if they can’t make college more affordable then they risk losing government funding. It’s a good plan except for the unnecessary increase in government funding he wants to add on. He can’t do anything without increasing spending.
Colleges do need to be reined in. They have come to rely on federal funds and make no effort to curb spending. In fact, they do quite the opposite.
Obama’s plan requires $1 billion to encourage states to curb tuition rate increases. He also wants $55 million in start up money for colleges to encourage innovation.
Republicans object to the plan because of the increase in spending with the national debt spiraling out of control, but President Obama said that some of it would be paid off with interest through student loans. Another problem is that the plan could put funding for poorer students at risk.
The basic idea of tying funding to curbing tuition costs is a good one. Increases in tuition far outpace inflation. The need for increases in federal funding is another question at a time when our debt is out of control.