James V. Koch’s indictment of the U.S. higher education system can be summarized as follows: The cost of attending four-year public universities has soared in recent decades, creating an affordability crisis. Lower- and middle-income students and their families have coped by piling up massive student loans to the point where indebtedness has become a major social and economic problem. Higher-ed institutions, especially those with brand names and pricing power, have extracted wealth from its students to fund institutional priorities of bolstering prestige and influence.
The underlying problem, Koch suggests in his recently published book, “The Improverishment of the American College Student,” can be traced to an asymmetry in political and market power.
Undergraduate students come and go. They and their families usually focus intently on college costs for a period of one to six years. After this, their attention dissipates. There is no permanent constituency of interested parties or victims. … Hence it is difficult to organize student or parent pressure groups that might address tuition and fee issues…
By contrast, the institutional interests of colleges, universities, and their bureaucracies endure. Boards of Visitors, set up to provide oversight of ambitious administrators, are routinely captured and dominated by university presidents. Board members adopt the goals and priorities of the administration rather than those of largely invisible students and families. Continue reading