2018-21世纪如何振兴高等教育（英文版）-1mb

Summary of the Policy Brief: How to Reinvigorate Higher Education for the 21st Century

Core Content

This policy brief outlines 13 recommendations for reauthorizing the Higher Education Act (HEA) to modernize the U.S. higher education system. It emphasizes the need for innovation, affordability, and accountability in a rapidly evolving economy where postsecondary education is increasingly essential for personal and national success.

The brief highlights that postsecondary education is now the norm, with over 60% of adult Americans having some form of postsecondary education or training. It also notes that the U.S. student loan portfolio has grown to $1.3 trillion, with nearly 70% of undergraduates relying on student loans to fund their education. Despite these investments, student debt remains a major concern, with many borrowers struggling to repay, especially those who do not complete their degrees or enter high-paying fields.

Main Recommendations

I. Foster Innovation in Higher Learning

1. Allow new models of higher learning to emerge
   Enable the development of innovative educational approaches, such as competency-based education, while maintaining accountability for taxpayer funds.

2. Fully authorize competency-based education
   Replace traditional "seat time" requirements with measures that reflect actual student learning and knowledge acquisition.

3. Fund applied research on higher education
   Support research aimed at improving access, affordability, and student outcomes, particularly for diverse age groups and backgrounds.

II. Improve Affordability

4. Increase Pell Grant funding
   Raise the annual maximum Pell Grant award and index it to overall inflation rather than college cost inflation to ensure long-term affordability.

5. Create Lifetime Learning Accounts (LLAs)
   Introduce a new system where all student aid—grants, scholarships, and loans—is pooled into a single, tax-free account for lifelong learning. LLAs would allow individuals to use funds for education at any accredited provider, including short-term training programs like coding boot camps.

6. Transfer management of federal student aid to the Department of Treasury
   Shift the administration of student aid programs, including LLAs, to the Treasury Department to streamline processes and improve data sharing between tax and aid systems.

7. Move student loan origination to the private sector
   Encourage private lenders to originate student loans, with federal guarantees only for those that are necessary to ensure access for low-income students.

8. Cap federally-guaranteed student debt
   Implement annual and aggregate caps on Parent PLUS and Graduate PLUS loans to prevent excessive borrowing. Allow institutions to set lower borrowing limits for students based on financial need and program requirements.

9. Allow borrowers to refinance student loans
   Permit refinancing of federal student loans when interest rates decline to reduce the financial burden on borrowers.

10. Pilot-test alternative funding models
    Explore income-share agreements and other innovative models that could provide alternative financing for education.

11. Test increased risk-sharing
    Have postsecondary institutions share some of the risk of student loan defaults by paying a small percentage of the defaulted loan value.

III. Increase Accountability and Transparency

12. Standardize cost and outcome information
    Require higher education institutions to publish standardized measures of cost and student outcomes to help families make informed decisions.

13. Enhance accreditation system
    Establish a set of quality assurance entities to accredit higher education providers and ensure that institutions eligible to receive funds from LLAs meet quality standards.

Key Information

• Postsecondary education is now the norm, with over 60% of adult Americans having some form of education or training beyond high school.
• Student debt is a major issue, with the federal student loan portfolio reaching $1.3 trillion and a significant portion of undergraduates relying on loans.
• The college wage premium remains high, but its growth has slowed, suggesting that the returns on a college education are not increasing as rapidly as before.
• Employers report skill gaps, indicating that many graduates lack job-relevant skills.
• The HEA needs to be reauthorized to address these challenges and align the system with 21st-century needs.
• Lifetime Learning Accounts are proposed as a central solution to improve affordability and simplify access to student aid.
• The federal government should play a role in guaranteeing loans for students who cannot access affordable financing in the private market.
• Risk-sharing mechanisms are recommended to ensure that institutions and lenders share the burden of student loan defaults.

Conclusion

The brief argues that the HEA must be reauthorized to reinvigorate higher education by fostering innovation, improving affordability, and increasing accountability. It calls for a more flexible and inclusive system that supports lifelong learning, reduces the financial burden on students, and ensures that education remains accessible and valuable for all Americans.