What's Happening?
A report from the American Enterprise Institute calls for a reevaluation of the accreditation process in higher education. The current system, which has remained largely unchanged since the 1950s, is criticized
for being a compliance maze that fails to ensure quality or empower consumers. The report suggests shifting oversight responsibilities to the Treasury Department, which could enforce objective fiscal and performance metrics. This change aims to streamline and depoliticize the process, focusing on financial soundness and consumer protection. The report also advocates for a national student-outcomes database to track earnings, employment, and educational value, providing transparency and accountability.
Why It's Important?
The proposed changes to the accreditation process are crucial as they address systemic flaws that have allowed failing institutions to persist. By shifting oversight to the Treasury, the process could become more transparent and accountable, ensuring taxpayer-funded aid reaches legitimate institutions. A national student-outcomes database would empower students and families with clear, comparable information, enabling informed decisions about higher education. These reforms could lead to a more efficient and effective higher education system, aligning incentives with actual educational outcomes and financial accountability.
