Public colleges and universities could be tuition free for $62.6 billion, writes Jordan Weissmann in The Atlantic. That’s how much tuition state schools collected from undergrads in 2012, according to Department of Education data. That’s less than the $69 billion the feds spent last year “on its hodgepodge of financial aid programs, such as Pell Grants for low-income students, tax breaks and work study funding,” writes Weissmann. “And that doesn’t even include loans.”
. . . rather than simply using our resources to maintain a cheap public system (and remember, public schools educate 75 percent of undergrads), we spill them into a fairly wasteful and expensive private sector. At one point, a Senate investigation found that the for-profit sector alone was chowing down on 25 percent of all federal aid dollars.
Actually, the feds would spend less than $62.6 billion to cover tuition because most of the $21.8 billion in Pell Grants is spent at state colleges and universities, Weissmann writes. However, state and local governments would have to continue their higher education subsidies.
Students at residential colleges would have to pay for room and board. Those choosing the private sector . . . Well, this plan would wipe out all but the elite, well-funded private nonprofit colleges and nearly all the for-profit sector.