With her recent press release regarding the College Board's assessment of college costs in the U.S., Trends in College Pricing, 2006, U.S.
Senate candidate Amy Klobuchar (D) stands up to the challenge of reducing college tuition in the state of Minnesota. The College Board's annual report revealed that college costs in Minnesota are rising faster than national averages. Nationally, college costs at public four-year colleges rose 6.3% from the previous academic year. However, in Minnesota tuition and fees at public four-year colleges rose 8% from the previous academic year. The national average cost of attending a four-year public institution is $5,836, compared with $7,495 in Minnesota. In all, college costs have gone up 81% in the last seven years at the University of Minnesota.
In the press release dated Wednesday, October 25, 2006, Klobuchar stated:
"This report shows once again that Minnesota families are among the hardest hit with rising college costs. At the same time, my opponent and the Bush administration have made it even harder for families and students with the largest cuts to student loans in history. My plan to make college affordable includes a $10,000 annual tax deduction for tuition and books or a tax credit of $3,000 – whichever helps more."
On her opponent, Mark Kennedy's (R), website the congressman proposes his own ideas for reducing college costs. They are 1) "Expand tax-free college savings" and 2) "Help make college affordable again by requiring colleges and universities that take federal aid to explain and justify double digit tuition increases and limit aid to those that don't". Although he fails to provide much detail about these plans, they seem to coincide with President Bush's plans. Earlier this year, Mr. Bush signed legislation that removes the 2011 expiration of feature of the "529 College Savings Plan" which is, in effect, another way to say "expand tax-free college savings" and has already been done. Further expansion of possible benefits of the 529 plans will likely add to their already complicated nature and it is questionable whether the plans are worth the effort. This could also be said of "requiring colleges and universities…to explain and justify…tuition increases". Furthermore, one could argue that neither of the Kennedy / Bush "solutions" addresses the immediate challenges faced by students and parents who are looking to finance higher education right now.
With Pell grants in Minnesota at risk of being eliminated every year under the Bush and Pawlenty administrations, and congressmen like Kennedy voting for the largest student loan cuts in history earlier this year (Vote #4 on February 1, 2006), is college tuition simply becoming too expensive?
Klobuchar is committed to change in Washington and that includes introducing new measures to make higher education more affordable in Minnesota. Kennedy supports Bush's College Savings Plan as the gateway to affordable higher education.
Amy Klobuchar remains ahead of Mark Kennedy in recent polls as much as by 21 points. Kennedy says "the real situation is probably not as bleak as the poll[s] indicates." Whether his statement stems from desperation or honest hope is not as important as the caution with which it should be heeded. Polls can be wrong and the race isn't over until someone crosses the finish line.
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Comments: 18
soon it might be only the rich that could afford to go to college.
i read an article this morning, a college degree can pay an average of $23,000 per year more than not having a degree. but if your school loan is half of that, you are paying taxes on the $23,000 more, your marginal income benefit is about even.
and if you want to teach, add 2 more years to your college experience. one of those years might be an internship, so working while you are getting your education is out for that internship.
if you think the kids who are better off will go into the field of education, you had better do a survey and see if that's true.
I believe very strongly education could solve many of our problems as a nation and people if only everyone had equal access to it.
What difference does a credit or deduction make when colleges will simply adjust the cost of tuition upwards to gobble up the savings?
And you're absolutely right, Greg (did I really say that?).
The cost of going to college, a privately owned college, has gotten out of control.
Even parents who can afford these costs are beginning to question whether the benefits of graduating from privately owned colleges are sufficiently greater than the benefits of graduating from those in the state and community systems.
What's important here is the development of a highly skilled future adult population and you have to wonder, in this respect, if we're going to be able to hold our own against emerging dynamic economies like India's and China's.
The costs of both private and public colleges is rising dramatically. Rather than simply asking taxpayers to fund this rise, we should be questioning both the cost structure and the value of the product received.
Frankly, I find it hard to justify and "investment" of $150,000 in a four year " studies" degree. I also find it absurd to spend $75,000 (public ed.) on a Liberal Arts degree.
This is not to suggest that young people should not pursue Liberal Arts, rather it is a call to question why it should not be done at a community college at a much lower cost structure.
IMHO, this political pandering underlines the failure of politics. Rather than explore fundamental solutions to the major costs in a person's life, the candidates pursue "sound-bite" politics.
When the price of gas to heat the schools, health care for teachers (and students), food, the cost of living, etc., go up - of course the cost of education is going to go up, too. I'm not "justifying" it - believe me. I'm trying to get one child graduated this year and another one started next year. But it simply costs more for just about everything these days.
In this global market our children and their children will need to be extremely competitive if we want the United States to remain prosperous.
Yes, the price of gas, food, and healthcare are rising but the cost of education is rising faster than these costs are pushing it.
I would hope that you would come to realize that costs for things like education and healthcare are heavily driven by the willingness of government and insurance to continue paying those costs without demanding reform and restructuring.
Coming up with a new way to pay for something is nothing less than a loud invitation for a new round of cost increases.
Average college cost breaks $30,000
If I am not mistaken the average annual inflation rate is 2.8%, about half the cost of the annual increase in college tuition. The annual inflation rate reflects the rising costs of gas and healthcare across the entire economy, one would think that colleges would not be more adversely impacted than other labor intensive industries.
It is obvious that the driver is the willingness to pay rather than the cost of doing business. Policies that subsidize cost increases, only drive costs up... and make college less and less accessible to low-income families.
Yes, but does the state spending $60,000 to educate someone in Women's Studies, American Studies or Queer Theory makes us more competitive?
Is that REALLY an investment?
How about using the money to train more plumbers?
These are the kinds of questions I would like to hear articulated in the campaigns.
You said, "costs for things like education and healthcare are heavily driven by the willingness of government and insurance to continue paying those costs without demanding reform and restructuring."
I couldn't agree more. There are many programs, classes and administrative methods that simply do not work anymore. They should be eliminated. Imagine the cashflow that would be liberated. This could "reduce" the cost of college tuition. But - we still have to keep up with the basic cost of living and the changing social and industrial landscapes across the globe.
I don't believe in blindly throwing money at a problem. The reform you mention is a necessary component in remaining competitive in education and beyond. This is an excellent point too often missed by liberal extremists.
I am not suggesting that these things are "without value" but I am questioning a system that encourages a young adult to enter the workplace with a dubious degree and a $60,000 debt.
My original comment was that the candidates are pandering with programs rather than addressing the more troubling question of the skyrocketing cost of education.
This is a serious problem and I appreciate your bringing it to the forefront for discussion.
Andrew, I couldn't agree more. The beauty of Democracy is the debate. The acknowledgement and respect that we have differences and the resovle to understand and learn from one another. As is the ability to question our leaders, what is, what could be. All these skills are a benefit of higher education.
How many "savings accounts" are we to fund in Mark Kennedy's vision of the world
My Health Savings Account
My 401(k)
My ROTH IRA
My College Savings Account
I fear we are becoming divided into the "haves and have nots", just like this country has tried to be divided many times before.