Is that a good thing, or a bad thing? Is education another socialist give-away program, or is it a shrewd economic investment?
When tuitions rise, enrollments decline, college graduate rates drop (and worse, college graduates grab the TOPS money and then quickly leave the state) and then Louisiana becomes increasingly less competitive. Not just less competitive compared to Texas and Florida, but to heavyweights like Alabama, Arkansas, and Mississippi.
Smart people are the best investment any entity can make. HP hired smart people in their formative years, and really had no idea what they were going to do with them; they just knew that those people would design their future. All current evidence suggests it was a smart move.
'Cheap' is a relative concept, it's always in relation to what the market price is elsewhere. So should we be cheap, competitive, or expensive?
Would Louisiana excel by trying to be the most expensive to get an education? By trying to be average? I can't see how either of those make sense.
Higher ed-- and that includes the enormously expensive professional and other graduate schools-- consumes a piddling 3% of the Louisiana budget (or at least it did a few years ago). I estimate that for 6% of our state's budget, we could educate every qualified student in Louisiana for free, and then go out and make the same offer to a few exceptional students from the rest of the USA.
What do you think that would do for Louisiana's future? Do you think the investment will pay off quickly?
And if not, where do you think we can invest that 6% so that it will give us anywhere near the same ROI?