According to a Nov. 28, 2006 article titled “State Legislators: American Higher Education in Need of Reform” that appeared in the National Council of Higher Education Loan Programs Inc.’s Daily Briefing, the commission’s recommendations include:
Define clear state goals: States need long-term priorities and a public agenda for higher education that links higher education to overall state economic goals.
Rethink funding: Over the years, states have reduced their share of overall higher education costs, and as a result, the share of costs for students, families, and institutions has gone up. Some states may decide to spend more money. All states need to spend money more wisely.
Rethink student aid: States should examine their merit- and need-based financial aid programs to ensure that they are well balanced, reward students who are efficient, and help adults and part-time students.
Help reduce borrowing and debt: Two out of three students graduate with debt, and the average debt is $17,250. Ten years ago, it was $8,000, adjusted for inflation. Legislators must find a way to reduce this drain on the state economy.
Talk to the education financial advisers at NextStudent. They have all the information and advice you need on student loans.
Be sure to tune in next Tuesday for my next blog about this week in student loans.
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