Rick Dalton is the Founder, and President and CEO of College For Every Student (CFES). Since 1991 CFES has helped more than 75,000 students in 40 states to graduate from high school and attend college. Dalton has written more than 130 articles and op-eds on educational issues.
Edward P. St. John is the Algo D. Henderson Professor of Higher Education at the University of Michigan, and serves as series co-editor for Readings on Equal Education, Core Issues in Higher Education, and Engaged Research and Practice for Social Justice in Education.
The growing gap in the rate of participation in higher education for low-income groups compared to upper-income groups over the past three decades, St. John finds, has been a direct result of the decreased availability of federal grants, even after taking into account such factors as an increased emphasis on strengthening high school graduation requirements. To reverse this trend, he suggests that policymakers refocus the debate over the public financing of higher education from taxpayer costs to principles of social responsibility and justice, along with economic theories of human capital. He then shows how improved coordination between state and federal agencies, expanded use of loans, and better targeting of grant aid can maximize access for low-income students while minimizing increases in taxes.
Making higher education accessible to low-income students is one of the crucial challenges for citizens and policymakers in the early twenty-first century. Refinancing the College Dream offers a theoretical and practical foundation for boldly rethinking the financial strategies used by colleges and universities, states, and the federal government to accomplish this essential goal.-- Joseph M. Cronin