Over the last few years of President Biden’s administration, taxpayers have gotten stuck with the bill for more than a hundred billion dollars in student loan debt. And this fall, millions of families will receive an invoice from a college or university for their children’s tuition. Many of these families will have sticker shock at the exorbitant prices—college costs have increased over 130% over the last twenty years. The costs of housing, books, meals, and more all make the burden heavier on families seeking to secure their child’s future. Unfortunately, among the biggest drivers of this six-figure bill are inefficiencies passed along by the universities themselves due to free-flowing federal dollars in the higher education system. A lack of information and transparency about degree programs and their return on investment can lead students astray, in turn generating crushing debts, which the Biden administration keeps trying to pass along to all taxpayers.
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