Monday, September 10, 2018

College affordability

Institutions of higher education in the U.S.A. are often criticized for high tuition rates and the practice of discounting from the published price has driven institutions to models that are only marginally (if at all) effective from a fiscal point of view. Alex Usher compared U.S. and Canadian higher education policy and recommended that careful consideration of the Canadian model could help.

What is Canada doing? It has sought to stabilize tuition increases while at the same time offering more in grants through the Canada Millennium Scholarship Foundation and encouraging family savings through the Education Savings Grants program (over 50% of Canadians under the age of 18 now have these accounts). Usher concludes "What Canada shows is that other political outcomes are possible (i.e. a federal approach), and that a high-tuition/high-aid equilibria can be maintained, under the right conditions."

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