Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
Disney's "Avengers: Endgame" is now the highest-grossing film of all time having earned $2.79 billion at the global box office.Entertainmentread more
Regional stability, oil prices and potential for war will all depend on what Iran does with its nuclear program in the event of the deal's termination.World Politicsread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
On Saturday, Disney's Marvel Studios announced its upcoming slate of superhero films during a panel at San Diego Comic-Con.Entertainmentread more
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
I love the idea of giving more Americans chances to save their money tax free. So, I really want to support Congresswoman Lynn Jenkins and her bill to make 529 plans more accessible and efficient for people saving for college tuition.
But I can't. Because while it's a good thing to encourage people to save, when the government does anything to help people pay for college the only guaranteed result is that the colleges will raise tuition.
The reason is simple. Colleges and universities aren't stupid. They've come to learn that no matter how much they charge in tuition, the government will essentially guarantee they get that money up front in the form of student loan programs backed by Washington. Sure, that doesn't mean the student who took out those loans will be able to pay them back. But what does the college care? It's been paid already.
Thus, the Jenkins plan to help more Americans get into a 529 plan and get more of a return on their savings is only going to encourage institutions of higher education to charge those Americans even more. The hard fact is that the U.S. government helps to massively inflate college tuition via student loans programs, 529's, and endless speeches by politicians extolling the primary importance of a college degree. And it's time for this to stop.
Some education advocates who want to see college tuition reduced are pushing for plans that would force schools to repay some percentage of their students' defaulted debts. Others want tax benefits and access to student loans to be increased and decreased depending on a given school's graduation rate.
Those ideas have their hearts in the right places, but they won't work either. History shows that the only force than can reliably reduce prices for any real length of time is the free market. If colleges and universities were forced to truly compete for every dollar, then you'd really see tuition price reductions, more tiered tuition pricing, and better educational options too. It's as simple as that. When it comes to gas prices, food prices, college tuition, and everything else you save up to buy, the government is simply not your friend.