Can College be Made More Affordable? It’s About More than Student Loans
If you were to do absolutely nothing, I think market forces, muted as they have been by the distortive effect of government subsidies, would nonetheless work in the near future to lower sharply future tuition increases. Enrollments are stagnant and many schools are desperate for students. New forms of innovative competition will eat into the market of traditional high cost schools. Fighting for survival, schools will be forced to be more innovative, more affordable, and better performing. Creative destruction or disruptive innovation has worked brilliantly in developing a vibrant competitive market economy that has made us the most prosperous of all large nations. It can work in higher education as well –if we give it a chance.