I’m working on a Writing question and need guidance to help me study.
The following is a brief summary of an article published by William J. Bennett in 1987. Mr. Bennett served as the U.S. Secretary of Education from 1985-1988.
There is strong evidence that federal student loans (subsidized loans, unsubsidized loans, and federally-backed work-study programs) are the single largest factor contributing to the explosive rise in higher education tuition over the past several decades.
The existence of federally guaranteed loans creates incentives for colleges to continue to raise tuition. How does this happen? The federal government guarantees that colleges will receive their loan money if schools follow all of the federal rules. The amount of loan dollars available to students continues to rise. The rising loan dollar amounts ensure that the increasing costs of college tuition will not lead to a drop in demand. It is a “win-win” for the colleges.
In 1978, federal loans became available to a greatly expanded number of students. Since then, college tuition has risen year after year. Federal student loans do not cause college tuition to increase, but there is little doubt that there is a direct correlation between increasing federal loan amounts and increasing college tuition.
***In a one-page essay, answer the following question:
After considering the information above and completing the reading and lecture assignments for this week, what do you think the federal government could do to curb the rising cost of college?