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Florida’s Plan To Make College Affordable Nationwide
What if we’re addressing the student debt crisis all wrong?
I asked myself this question in 2022 after watching Democrats in Washington try to cancel student loan debt, thereby increasing the cost of college degrees and the resulting debt burden. Meanwhile, Republicans suggested mere tweaks at the margins of higher education. Nearly two years later, Florida is about to enact a more substantial reform — one that taps the power of the market with the goal of revolutionizing college affordability nationwide.
Any day, Florida Gov. Ron DeSantis will sign a bill to make a range of online associate and bachelor’s degrees available to out-of-state students. The cost of such degrees will be capped at $7,000 a year. That’s below the cap for Pell Grants, so low-income students would be able to get a degree free of charge, with money left over for textbooks. For other students, a four-year degree will cost $28,000 at most, with many paying $14,000 or less for a two-year degree.