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Obama Seeks New System For Rating Colleges
PolygamousRanchKid writes "Targeting the soaring cost of higher education, President Barack Obama on Thursday unveiled a broad new government rating system for colleges that would judge schools on their affordability and perhaps be used to allocate federal financial aid. But the proposed overhaul faced immediate skepticism from college leaders who worry the rankings could cost their institutions millions of dollars, as well as from congressional Republicans wary of deepening the government's role in higher education. The new rating system does not require congressional approval, and the White House is aiming to have it set up before the 2015 school year. But Obama does need support from Congress in order to use the ratings as a basis for parceling out federal financial aid. In addition to tuition, schools will also be rated on average student loan debt, graduation rates and the average earnings of graduates. Under Obama's proposal, students attending highly rated schools could receive larger grants and more affordable loans."
What I simply don't understand is why US universities are so expensive. It's gotten to the point where it seems that any sort of education can only be gotten my pretty much taking on so much debt that you will be lucky to pay it back - which then forces the government to start putting in copious amounts of scholarships/funding to keep students there.
Degree Costs in Australia
Over here, a degree (not counting the really expensive ones like medicine) costs $15-30k and a masters $20-37k.
The average cost (excluding the notoriously expensive universities) in the US is $28k per year.
Seriously, why?
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Want the potential of college without the risk of massive debt due to picking the wrong major or flunking out?
Try Oregon's new College tuition bill "Pay Forward" (bill passed, but not yet implemented). The government pays for the full cost of tuition over 4 years. You pay them 3% of your salary for 24 years. Is it more expensive for the student? For good jobs, sure. But it gives a peace of mind that you aren't going to be hurt too badly financially, and reduces the penalty if college just didn't work out for you.