The more I've thought about this provision, which was basically just made permanent, the more upset I am. In retrospect, this decision could be a very big moment in higher ed finance policy that shuts down a lot of policy options. And almost no one debated it at the time.

We've actually had a lot of cool ideas in the last 5 years for new ideas for higher ed financing. I worry that path dependence is going to shut down a lot of those options. We've now got powerful interest groups who will be in favor of the status quo.

Also I still can't believe we just created a new benefit to favor even more compensation to people with degrees and especially graduate degrees to get even MORE compensation relative to others.