Financial Literacy

Here is an interesting article on financial aid and the Obama administration's effort to make sure students understand the true and full cost of their education.

My thoughts? While financial literacy is certainly important, and this action by the administration should be welcomed (even if it was mandated by legislation), helping people understand how much debt they will have to take on to earn a competitive-wage job does not do anything about the fact that the cost of higher education is unconscionably high and does not create market incentives for our citizens to be the most educated workforce in the world. While congress and pundits dicker over what corporate tax rate is necessary to incentivize companies to hire more people, should we not be thinking about what incentives are we creating for our citizens to be the best educated in the world?

-AJS