Don’t Subsidize Bad Education
Beth Akers’s recent article on higher-ed finance (“Higher-Value Higher Ed,” September 12) had some sound ideas. Unfortunately, it also included a very bad idea: a repayment program that lets low-income borrowers make payments based on a share of their income above some threshold, with low earners completely exempt. This system would incentivize schools to admit low-aptitude students and expand course programs with little to no value added for students. Future engineers would subsidize majors in victims’ studies. In either case, the students would get a multiple-year vacation they’d never have to pay for, and college stakeholders — professors and administrators — would continue to get taxpayer-funded transfer payments for academics.
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