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Transparency Can Cut Higher-Education Costs

April 16, 2013

Michael Bugeja, director,
Greenlee School of Journalism and Communication,
Iowa State University of Science and Technology


Higher education believes in sustainability to such extent that at Midwestern universities, like my own, we advocate for ingredients on food labels. The biggest issue in sustainability, however, is not a green environment as much as the greenbacks it takes to earn a college degree.

University presidents are trying with moderate success to lower burgeoning student debt, more than $29,000 on average per student at my institution with similar amounts at other public colleges and universities. The conventional wisdom is to raise more scholarships from alumni (many of whom are still paying off debt), raise legislative awareness about the importance of higher education (been there, done that) and, more recently, raise students’ financial acumen about the cost of a degree. (Some 13 percent of Iowa State University students with loans didn’t realize they had debt).

Of all consumer economic sectors, higher education can do a better job in providing information about what tuition dollars buy. To mitigate that effect, the Iowa State Greenlee School of Journalism and Communication, which I direct, has assembled a fact sheet for current and prospective students, informing them how long it takes to earn a journalism or advertising degree, the availability of scholarships and financial aid, current enrollment figures, recruitment and retention rates, placement data within six months of graduation (in Iowa, U.S. and abroad), and average starting salaries in advertising, journalism and public relations.

Average student debt remains a problem at Iowa State. Because administration here has focused on lowering debt, it is slowly decreasing from a high of $30,619 for bachelor's graduates in 2005-06 to $29,324 in in 2010-11. We all know that is not good enough at a land-grant institution where a college education should be most affordable. …

For the rest of the article, click here or put this address in your browser: http://www.insidehighered.com/views/2013/04/11/essay-importance-transparency-cutting-college-costs.

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