If you didn’t know that nearly 500 federally-funded colleges leave their students worse off than when they enrolled, or with no return on investment, you’re not alone. Today, Americans have better information at their fingertips when they’re car shopping than when they’re making decisions about higher education investments that can affect their earning potential and financial security for years to come.
Worse, higher education institutions themselves aren’t held to any standards to ensure they’re graduating students who are prepared for the workforce – and can afford to repay their student loan debt!
As outstanding student debt balloons to $1.6 trillion, it’s time for Congress and the Administration to ensure the higher education system is transparent and accountable. Students need more and better information about completion rates and post-graduation outcomes before they enroll and take out loans. Institutions participating in federal student aid and grant programs funded by taxpayers need to be accountable for quality, cost, and outcomes.