Texas Attorney General Greg Abbott became Governor-Elect Abbott last Tuesday evening. Abbott’s team released his plan for reforming Texas higher education during the gubernatorial campaign. Chief among his objectives is improving college graduation rates. Given years of skyrocketing tuitions here in Texas—as everywhere else in the country—it is likely that his proposal will receive considerable attention.
Nationally, tuitions have increased on average 440 percent in the past quarter century—faster than the increases seen in both the Consumer Price Index and health care costs over the same period. Attempting to keep pace with these price hikes, students and their parents have amassed historic debt, which now stands at $1.2 trillion. For the first time, national student-loan debt is higher than national credit-card debt. What is to be done? CONTINUE READING HERE