Obama seeks student aid hike, falls short on cost control.
To look at higher education these days, it seems that no one cares about financially strapped students.
On the one hand, colleges have long been raising tuition at a rate faster than the cost of living. On the other, lenders have treated families' increased borrowing needs as an invitation to easy profits.
To address this, President Obama wants to expand federal Pell Grants for low- and middle-income students. The expansion would be financed by ending the private, scandal-plagued Federal Family Education Loan Program and replacing it with direct government lending.
The obvious question is: Will all this actually make college more affordable? In the past, universities have driven up costs through lavish building, money-losing sports, swelling bureaucracies and a tolerance of professors who barely teach. Simply throwing more money at them isn't going to prompt necessary belt-tightening.
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