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The higher education landscape is undergoing a profound transformation, with a new focus on measuring value and ensuring economic mobility for students. In this revealing conversation with Kelly McManus, Vice President of Higher Education at Arnold Ventures, we explore the reconciliation bill currently moving through Congress and its far-reaching implications for colleges, universities, and most importantly, students.
At the heart of this policy shift lies a deceptively simple question: Are students better off for having attended a particular program? Both Democratic and Republican policymakers increasingly agree that programs receiving federal dollars should demonstrate their value through graduates' economic outcomes. The reconciliation bill represents this emerging bipartisan consensus, with provisions that would end Title IV funding eligibility for programs that leave more than half their students worse off than typical high school graduates.
Graduate education faces particularly significant changes, with the bill proposing to end the unlimited Grad PLUS loan program and institute caps of $100,000 for master's degrees and $200,000 for professional programs. This addresses growing concerns about the proliferation of expensive graduate degrees that fail to deliver proportionate economic returns.
McManus offers a compelling framework for low-income and first-generation student advocates: these vulnerable populations need protection from predatory programs that promise economic mobility but fail to deliver. True equity requires ensuring that all programs provide genuine value, not just access to debt.
Looking ahead, implementation will be crucial. Arnold Ventures is already working with states to develop credentials of value frameworks and scale evidence-based models like CUNY ASAP. As budgets tighten, institutions that truly center students rather than revenue will be those that thrive in this new accountability era.
Whether you're a policy professional, higher education leader, or concerned student, this episode provides essential context for understanding how the measurement of college value is fundamentally changing. Subscribe to the Rant Podcast for more insightful conversations on higher education's most pressing challenges.

https://www.arnoldventures.org/people?team=higher-education

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