The Gateway to Prosperity, Education

The Gateway to Prosperity, Education
By Tom Cole

A college education has long been viewed as a ticket to success. And today, more than ever higher education is playing a fundamental role in shaping our nation's competitiveness and prosperity. Unfortunately, the costs of higher education are soaring, often putting the dream of education out of reach for lower- and middle-income families. As a former educator, and the father of a son in college, I understand the concerns of families and students trying to cope with the costs associated with a degree. As a member of the House Education and Workforce Committee, I have been working with my colleagues to ensure that students are given every opportunity to attend college and to receive a quality education.

The House Committee on Education and Workforce recently conducted a report that analyzed college costs and the implications for America's higher education system. It showed that although federal financial aid has grown tremendously in recent years, tuition increases have grown faster than the rate of inflation, the growth in family income and increases in federal aid. The Pell Grant program, student aid given based upon financial need that students do not need to repay, has increased dramatically over the past three decades, but has still have not caught up to the rate of tuition increases. Oklahomans are fortunate to have a selection of schools with significantly lower than average tuition prices (compared to similar institutions in other states). In Oklahoma, the state subsidizes a greater percentage of the overall cost to attend college, making the costs lower than others in the Big XII. Still something must be done to give more students an opportunity to continue their educational pursuits.

The government has been continually increasing funding to off set the rising costs of going to college. For example in the 10 year period ending in 2001-2002, federal student aid increased by 161 percent. The U.S. Department of Education estimated that in 2004, the federal government spent $90 billion on higher education. About $65 billion went directly to students through grants, federally backed loans, work-study opportunities and various other financial assistance programs. This year they will spend about $70 billion.

I do not believe that increased government financial aid is the only solution to the soaring prices of a college education. We must do more to help students complete their goals. In conjunction with the reauthorization of the Higher Education Act, the Education and Workforce Committee has conducted many hearings on the costs associated with higher education. I have also formed a Higher Education Task Force that I meet with to discuss education issues. These Task Force meetings have provided me wonderful feedback on the issues important to our institutions, and many suggestions from the Task Force have been included in the Higher Education Reauthorization legislation. The solution may not be simple, but with increased awareness and understanding, feedback from students, parents and members of the higher education community, I believe we can make strides toward increasing opportunities for dedicated students while containing costs.

Many parents and students worry about the costs associated with college. Please visit the Department of Education website for information about student aid (