The Supreme Court will hear two cases next month challenging the Biden administration’s recent move to require taxpayers to pay off $400 billion in other people’s federal student loan debt. Regardless of one’s stance on the issue of college debt, President Biden’s move is a one-time treatment, not a cure. Policymakers and students alike need systemic fixes to push down the ballooning price of higher education. They can do this by targeting the root of the issue: administrative bloat.
College tuition has shot up in recent decades, but it can’t be blamed on inflation or the increased cost of living. According to federal Consumer Price Index data, inflation of college tuition and fees dramatically outpaces all other sectors of the economy — even health care.