Parents are feeling the financial pinch. Low-income students are deterred by the high cost of college. And if the trend continues, too many graduates will begin their working lives burdened by hefty student loans. Yes, the system is in desperate need of reform. But adding new tax credits to the tax code is the wrong place to start.
All data are enrollment-weighted averages, intended to reflect the average costs that students face.
The College Board Farrell is contributing economics editor for Business Week. The McGraw-Hill Companies Inc. All rights reserved. The McGraw-Hill Companies Inc. All rights reserved.