Bill Cassidy Claims Higher Education Has ‘Lost Its Purpose,’ Cites ‘Negative Return On Investment’

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During a Senate Health, Education, Labor, and Pensions Committee hearing prior to the Congressional recess, Sen. Bill Cassidy (R-LA) spoke about the need to reform the higher education system.

Transcript

00:00The Senate Committee on Health, Education, Labor, and Pensions will please come to order.

00:08In some respects, the American higher education system has lost its purpose.

00:13Many college students are not learning skills needed to succeed in the modern workforce,

00:18and studies show that the cost of college is quickly outpacing the value of a student's

00:24education.

00:25In the last 30 years, tuitions and fees at private, non-profit colleges rose by 80%.

00:31At public four-year institutions, they've increased by 109%.

00:35Meanwhile, according to a nonpartisan analysis, 23% of bachelor's degree programs and 43% of

00:42master's degrees have a negative return on investment.

00:46This is to say that students pay more for their degrees than the increase in salaries they

00:51can expect.

00:52Now, this increased cost often is not going to improve education.

00:57Often those dollars are being funneled to promote a DEI ideology, dividing students based on

01:02race and ethnicity.

01:03A report study in 65 colleges and universities found that the average institution was paying

01:09for 45 staff members to promote DEI policies.

01:13By the way, these programs are subsidized by taxpayers who contribute significant funding

01:17annually for these universities.

01:20Instead of promoting academic excellence, many campuses have been ideologically captured,

01:25becoming hotbeds of hate and division.

01:27Students leave college woefully unprepared for the workforce while being saddled with insurmountable

01:32debt that they cannot pay back.

01:34Comprehensive reform of higher education is needed.

01:37President Trump and Secretary McMahon are making progress, including fixing the broken student

01:42loan program.

01:43Congressional action is needed to create lasting change.

01:46Over the last several years, there have been multiple legislative attempts to improve higher

01:50ed to benefit students.

01:52This includes my bipartisan College Transparency Act with Senator Warren, which allows students

01:57to compare the differences between prospective colleges and a major to see if the value of

02:04the degree is worth the cost.

02:06Senator Tuberville is leading the Graduate Opportunity and Affordable Loans Act to end graduate plus

02:12loans, which have been inflationary to tuition costs.

02:16This bill puts downward pressure on rising college costs by limiting graduate school borrowing.

02:22There's also the streamlining accountability and value in education are saved for students

02:27act led by Senator Cornyn, which streamlines confusing repayment options for student loan borrowers,

02:34decreasing the nine options to two, giving students and families clarity as to which repayment

02:39plan best fits their needs.

02:41I look forward to discussing these and other policies in depth today.

02:45It is a given, but nonetheless, I emphasize the power of education.

02:49It can transform lives, lifting not just the generation that attends college out of poverty,

02:54but the subsequent generations in that family as well.

02:57It is also a font of life-changing innovation and research helps develop life-saving cures and

03:04define solutions to some of America's biggest challenges.

03:07But when universities fail in their basic responsibility to ensure a safe learning environment, when students

03:13leave college in debt and without hope for a brighter future, the American people lose trust

03:17in higher ed.

03:18There is no one who can advocate for higher education better than the institutions themselves.

03:25Universities must make the case to the American people as to why they are valuable to the nation

03:30and are worthy of taxpayer investment.

03:32I thank Taylor University and Tuskegee University for being here.

03:36Rarely are HBCUs or religiously-oriented universities mentioned in conversations about the landscape of

03:42how to improve America's higher education system.

03:47We will also hear from the Austin, Texas Community College District, which offers an interesting perspective

03:53beyond traditional four-year universities.

03:55A great opportunity for all to share stories of the value you provide.

04:00I'll make one more comment.

04:02As I mentioned earlier, it's important that everyone has an opportunity to speak to the American

04:06people on this important topic.

04:08Each person and institution should have the right to make their case.

04:12In light of that, it is known, but I will comment upon, that Harvard University have been requested

04:18to attend today's panel.

04:20Harvard is world famous for its cutting-edge research, which helps make not only our nation

04:26but the world healthier.

04:27But there have been recent episodes and a recent report on anti-Semitism within Harvard's culture.

04:33This would have been Harvard's chance to tell the committee and the country how it is addressing

04:36anti-Semitism, removing DEI from priorities, and highlighting their value as a research institution.

04:43Unfortunately, they declined the invitation.

04:46Thank you again to our witnesses for being here.

04:48I look forward to discussing how we can improve higher education so students can succeed in

04:52the classroom and beyond.

04:54And with that, I...

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