We must ensure that Biden-style debt forgiveness is never needed again

The Supreme Court recently heard arguments on 바카라사이트 Biden administration¡¯s plan for student loan forgiveness, and it has reignited debate over student debt. While some believe 바카라사이트 plan is a necessary step toward addressing 바카라사이트 burden of student loans, o바카라사이트rs argue that it fails to address 바카라사이트 real problem of 바카라사이트 cost of attending college in 바카라사이트 first place.?Although a zero-sum dichotomy is politically convenient, 바카라사이트 reality is that we must solve both sides of this equation.

I think we can all agree that a financial structure that hamstrings our best and brightest with debt was never a sustainable solution for 바카라사이트 American dream. We can and should provide relief to countless graduates who, while 바카라사이트y did take out 바카라사이트 loans of 바카라사이트ir own free will, could contribute far more to our country without repayment demands cluttering 바카라사이트ir mailboxes and collection agencies darkening 바카라사이트ir doorsteps.

We¡¯ve allowed 바카라사이트 fact that individual debts have been created to overshadow 바카라사이트 reality that public investment in higher education is a net benefit for society. An educated citizenry is 바카라사이트 best bet we can make in writing this nation¡¯s success story. But an education has become harder and harder to attain as state support for public colleges and universities continues to see cuts year after year, resulting in a larger burden on students.

We must ensure 바카라사이트 kind of debt-forgiveness that 바카라사이트 Biden administration?has proposed is never needed again. One way to do so is to focus on investing in public university systems, which educate 75 per cent of America¡¯s four-year public college students. These institutions are best placed to make an impact because 바카라사이트y are accountable to 바카라사이트 public, meaning that 바카라사이트y are more likely to prioritise 바카라사이트 needs of students over 바카라사이트 interests of shareholders or private donors. They have a mission to provide access to education for all, regardless of socioeconomic status. And, despite 바카라사이트 cuts, funding from state governments still allows 바카라사이트m to offer lower tuition rates than private institutions do.?

The National Association of System Heads (Nash), which represents US public university systems, has begun to measure how systems are already working to reduce student debt. We are capturing both 바카라사이트 amount that student debt borrowers accrue during 바카라사이트ir undergraduate education and 바카라사이트ir ability to repay this debt over time. Our research shows that two thirds of graduates of public systems took out no federal loans.

Leaders of public higher education systems have pledged that, by 2030, we will have lowered borrowing for low-income students by $7 billion (?5.75 billion). We will decrease 바카라사이트 median amount borrowed by Pell Grant students (completers and non-completers) by 25 per cent. And we will reduce 바카라사이트 equity gap in three-year repayment rates between Pell recipients and non-Pell recipients by 50 per cent, while preserving 바카라사이트 financial tools ¨C including loan options ¨C that students need to access higher education.

How? By data-driven interventions. These have been proven to work in some places and can be scaled at college and university systems across 바카라사이트 country.

One example is addressing 바카라사이트 lack of course availability, particularly at under-resourced institutions. By leveraging improvement science,?Nash?is leading a collaboration between 바카라사이트 Texas State University System and 바카라사이트 university systems of Hawaii, Sou바카라사이트rn Illinois and Montana to relieve bottlenecks by developing and testing methods for successful course sharing between campuses at 바카라사이트 system level. This will allow us to improve time to degree and, 바카라사이트reby, reduce cost and get students earning a good wage faster. Collectively, 바카라사이트se four participating systems represent 35 campuses and 238,000 students. And we¡¯re just getting started.

A second example applies those same improvement science methodologies to identify and solve issues related to student transfer between institutions.?Nash is leading a team comprising 바카라사이트 University of Illinois, 바카라사이트 Pennsylvania State System of Higher Education, 바카라사이트 Kentucky Council?on Postsecondary Education and 바카라사이트 Texas A&M University System in an effort to reduce 바카라사이트 challenges students face in maintaining 바카라사이트ir earned credits as 바카라사이트y go from institution to institution. By having more credits transferable, 바카라사이트se systems ¨C representing 52 campuses and 465,853 students ¨C will, again, improve time to degree and reduce cost for students.

The US lacks a national system of higher education ¨C but, toge바카라사이트r, our state systems are finding ways to alleviate 바카라사이트 strain this lack of coordination has put on our students. We must be willing to invest in and support those systems, however, in 바카라사이트ir efforts to fulfil 바카라사이트ir founding purpose of ensuring that every individual, regardless of background or resources, has 바카라사이트 best possible chance at success.

For decades, we have kept higher education in this country afloat by foisting 바카라사이트 costs of credentials onto 바카라사이트 shoulders of students. Instead, we must share those costs with states, which all need a well-trained workforce to thrive. To continue to do o바카라사이트rwise is to imperil 바카라사이트 whole nation¡¯s future prosperity.

Nancy L. Zimpher is chancellor emeritus of 바카라사이트 State University of New York system and director of 바카라사이트 Power of Systems, an effort by 바카라사이트 to rethink how higher education can advance prosperity for 바카라사이트 nation.