The Obama Administration urges post-secondary institutions to become more involved in  higher education. One thing President Obama wants  changed initially is  greater transparency about the cost and benefits of higher education.

“Higher education can’t be a luxury-it’s an economic imperative that every family in America should be able to afford,” said President Obama.

Breaking it down, the question is: What are people getting for their money right now?

  • Students are graduating with an average debt of $25,000.
  • 40% of students at a four-year university fail to graduate school.
  • The Federal Government pours $140 billion into grants and loans annually. (holy cow)

As a result the unemployment rate continues to skyrocket as companies complain about a lack of highly trained workers it is receiving.

Also, the college drop out rate is expensive. And not just for the student. According to the American Institute of Research, dropouts are costing taxpayers hundreds of millions of dollars annually.

According to a commission of the George W. Bush administration, American higher education has become “increasingly risk averse, at times self-satisfied, and unduly expensive.”