Borrowing Against the Future: The Hidden Costs of Financing U.S. Higher Education

Charlie Eaton, Cyrus Dioun, Daniela García Santibáñez Godoy, Adam Goldstein, Jacob Habinek, Robert Osley-Thomas, Rabble, Jenny Connected, Jun 19, 2014
Commentary by Stephen Downes

A large part of the imperative for a rethink of the university system is the impact of the costs of that system on society at large. On a personal level, this is represented by the student loan payments that dogged me well into my 40s. But the drain on society is even larger. As George Siemens tweets, quoting from this report, "The largest 15 for-profits [universities] received between 66% and 94% of their revenue from the federal government." Combine this with the fact that they preferentially serve the well-connected and well-to-do, and with the enormous cost of the system as a whole, and you have a mandate for change. That's what this report is about.

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