Dive Brief:
- Days from the 50th anniversary of the signing of the Higher Education Act, Indiana University Southeast Chancellor Ray Wallace argues that greater investment is once again needed to expand access in higher ed.
- For The Courier-Journal, Wallace writes that the undergraduate student population has ballooned to 21.2 million from 5.9 million upon the act’s passage, reminding readers the increase in the cost of the act’s program comes from more students in higher ed, not more funding for them.
- Grant aid itself covers a smaller portion of overall tuition than ever, and Wallace says HEA reauthorization must credibly address student aid funding practices to make high-quality public education affordable without massive borrowing on the part of students.
Dive Insight:
Sen. Lamar Alexander (R-TN) is leading the HEA reauthorization as chairman of the Senate’s education committee. He wants to overhaul the FAFSA form to make the aid application less cumbersome for prospective students. He has also talked about streamlining the government’s aid programs.
It was also Alexander who blocked a funding bill in October that would have extended the life of the Perkins Loan program, saying he preferred to rethink the government’s entire financial aid strategy and consolidate programs during reauthorization. In the meantime, colleges may have to return billions of dollars to the federal government that had stayed in their control to award new loans through the program.