A Vanderbilt University report published this week shows colleges around the country spend $27 billion a year to comply with federal rules and regulations. While these compliance costs put large burdens on universities, they also serve to drive up the cost of higher education.
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“The Vanderbilt study illustrates the unnecessary costs imposed on education by the federal government and its penchant for over-regulation. Technology has created a situation where the cost of delivering education is actually dropping like a stone. The increasing costs for higher education are primarily a bureaucratic phenomenon.”
“The Vanderbilt study on the costs of governmental regulatory compliance highlights a major reason for the ever-increasing costs of college attendance. Reducing this regulatory burden will allow for a reduction in tuition rates and aid in reducing the student debt burden.”
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