Richard K Vedder, Columnist

Obama Needs Push to Shake Up Higher Education

August 8, 2013 at 1:00 PM UTC

Richard Vedder, an economist, directs the Center for College Affordability and Productivity and teaches at Ohio University. He is an adjunct scholar at the American Enterprise Institute.

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President Barack Obama keeps declaring war on rising college costs. In a speech at Knox College last month, he vowed to unveil an “aggressive strategy to shake up the system, tackle rising costs and improve value.” He said something similar in his 2012 State of the Union address, so I’m a little skeptical that much will happen.

As students get ready to go to college this month, let me suggest ways to “shake up the system” and “tackle rising costs.” In doing so, I would point out that two things lead to higher prices: rising demand and falling supply. Any efficient solution to the explosion in college tuition and fees must either damp demand or increase supply. With that in mind, here is a five-point federal-action plan.