In The News

By Henry Rodgers

Pennsylvania Republican Rep. Scott Perry introduced legislation Friday that would make colleges and universities more affordable by allowing higher education institutions to cosign student loans to help.

The Daily Caller first obtained a copy of the bill, which is titled the Student Loan Reform Act. The legislation would specifically allow colleges and universities to cosign federal student loans. This bill allows higher education institutions to provide educational and career opportunities to help students repay their loans.

“Currently, colleges and universities have zero incentive to keep costs low and offer courses relevant to the job market,” Perry told the Caller. “Students are taking out massive loans from the federal government, while colleges have little to no skin in the game when it comes to the success or financial welfare of their alumni.” 

“The average annual cost of tuition at a public 4-year college is 23 times higher than tuition was in 1963,” according to the Education Data Initiative’s (EDI) website. The website states that “college tuition inflation averaged 12% annually from 2010 to 2022” and that “after adjusting for currency inflation, college tuition has increased 747.8% since 1963.” 

Another EDI report says that the “average cost of college in the U.S. is $36,436 per student per year,” taking books, school supplies and cost of living into account.

View original article: https://dailycaller.com/2024/05/20/rep-scott-perry-introduces-legislation-to-make-colleges-universities-more-affordable/