Marco Rubio took the bold step of offering a plan that even he acknowledges might make some people pay more for their college degrees. He wants to set up a system where private investors could cover a student’s tuition in exchange for a percentage of their earnings after college, but clearly hasn’t thought it through.
Will it limit someone’s freedom to choose their job afterwards since a financier will be breathing down their neck?
How much uncertainty will students face about the fine print and what could get sneaked into their contract?
In his Chicago speech today, Rubio left out his call to eliminate the Department of Education, which would also drive up the cost of college by getting rid of federal student loans and Pell Grants. He did, however, re-up his extreme proposal that would likely open the door to more for-profit colleges. A prime example is Corinthian College, which recently went bankrupt and left the federal government Read more after the jump.