The federal government treats higher education as a surefire investment, but this isn’t always true. Many colleges leave their students worse off financially, contributing to the student debt crisis.
A reform-minded president could hold low-quality colleges accountable by requiring colleges that receive federal funding to publish student outcomes data and meet certain performance benchmarks.
Congress can restore rationality to the federal student loan system by limiting the amount students can borrow and holding colleges financially responsible for unpaid student loans.
At the same time, both Congress and the executive branch should take steps to open federal funding streams to high-quality alternatives to traditional four-year college, such as apprenticeships.