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1 1 (September 21, 2022)

handle is hein.amenin/aeiaekx0001 and id is 1 raw text is: Key Points e Most US colleg students o to college in sear:h of economic safety and ndepend- ente. Unnriunately, existing US coleges often fail to produce economi rnooil iy for their students, and prevailing poliuy efforts to imroove existinc colieces are limited in thoir rnpact A prnmsing strategy for irproving the quality of US colleges, particularly I ability to produce econoi m t K' or students, is to enable the formation of new nornproft o!!eges tht can bring d-esign rnnvuon, irnproved outcomes, and cometrtion to 5 entor I For ollege of nhs k in.d to trm t:, hioher education seotor nees new coiiege ancrd ton hat, ule current c-tege accreditors, specialize in evaluatg, approving, and monitaring startup colleges, VWhite i-louse and Education Department leadership should ;nvest political capital and administrative resources in new accreditors that can enable and regulate startup non- profit colleges focused on economic noo-itty. Anerican higher edCf iathin poicy generously underwrites student choice, Every year, nillions of students, equipped with billions in financial aid, choose among ccllegevs Unfortunately, c alleges of'en fail to deliver the economic outcomes that students value most, notably low costs, high gradaion rates, and strong earnings. Students and familie~s sense the rising costs and faltering otcoes of US colleges and, in recent years, have rightEy gr-. wa skeptical about the economics of college To inmprove economic 3nobility utco les of UiS colleges, policynmakers should enable the for- Enation of nonprnAft college startups that can bring new designs to the sector and produce brea- Throughs in ec nomic mbility ' tc mes wile agreeing to be strictly accountable for results and to act with toal transparency. To fo-rn in substarntial numbers, these colleges need a new hreed of college accreditor, one that- in cc;*trast to current accreditors, which work almost exclusively with existing colleges-ocuses on vetting, approving, and regulating startup col- leges. White House and Department of Education (ED) leadership should invest political capital and resources in forming these new college accredirors. Poor Outcomes and the Limits of Current Reform Efforts The cost of college has increased ahead of inflation almost every year for the past font decades. For faiAles in the lowest income quintile, the net price of a four-year private college is now igo percent of aniual household in conez Suden-ts entering two- and four-year colleges today face roughly

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