Income-Driven Repayment and the Public Financing of Higher Education
Citation: 104 Geo L.J. 229 (2016)
The cost of higher education has been rising faster than inflation for decades and is likely to continue to do so despite reform efforts. This has negative distributional consequences given that higher education is a quasi-public good that should be consumed widely. As the costs continue to rise, higher education will become increasingly unaffordable to those at the lower end of the income distribution, even though as a matter of justice and economic policy, higher education ought to be available to all. Full public financing of higher education would be an obvious answer to this distributional problem, but the cost renders that close to politically impossible. . . .