House education committee leaks its ambitious first draft of a reauthorization of the Higher Education Act, with broad changes aimed at both deregulation and more accountability in how federal student aid is distributed and used.
My favorite parts are (1) loosening the reins on for-profits, presumably because they do the best job of exploiting disadvantaged students; and (2) making it more risky for nonprofit colleges that serve disadvantaged students by punishing them for lower graduation rates and lower loan repayment rates. The result of both is predictable - fewer students from the bottom of the income distribution will have access to college, a critical pathway to gaining financial independence. What a world we live in.