Chairman Arrington Praises Budget- Conscious Bill to Reduce Cost of College
WASHINGTON, D.C. - Today, Chairman Jodey Arrington (R-TX) released the following statement in support of Education and the Workforce Committee Chairwoman Virginia Foxx (R-NC)’s College Cost Reduction Act.
“As college tuition costs continue to skyrocket, students are saddled with crushing debts — piling on to the challenges of our current cost-of-living crisis. The College Cost Reduction Act provides much-needed transparency to the true cost and real value proposition of higher education, requires universities to put skin in the game, and incentivizes good behaviors from students and schools alike.
The answer to ballooning tuition costs is not Biden’s student loan bailout, which shifts the financial burden from a ‘lucky few’ to our children and grandchildren — it is empowering Americans to make well-informed decisions about pursuing higher education and holding universities accountable for the value they deliver.”
Chairman Arrington served as Vice Chancellor for Research and Commercialization for the Texas Tech University System, a major national research institution with nearly 60,000 students in its system, and was a senior advisor to former President George W. Bush.
Background
According to Consumer Price Index (CPI)’s measure of college tuition and fees, college prices have increased by 1,506 percent since 1978, almost quadruple the increase of overall inflation over the same time.
Since the 1977-78 school year, average tuition has increased from $310 to $3,800 (1,126 percent) at public two-year colleges, from $660 to $10,750 (1,529 percent) at public four-year colleges, and from $2,700 to $38,070 (1,310 percent) at private nonprofit colleges – reinforcing CPI’s generalized data on college tuition and fees.
Click here to read more about the cost of President Biden’s student loan bailouts.
Click here to read more about The College Cost Reduction Act.
Click here for bill text.
