On July 4th, the Association has written an article on its blog. This article laid out the negative effects of excessive student loans on the US economy and the well being of young Americans and their family. Today we all learned reports published by the Washington Post that PAYE (Pay As You Earn) on student loans repayment program will be expanded. While this program will surely help the struggled American families and will jolt the economy, it still does not solve the root of the problem. Rather, a remedial policy to fix the damages caused by the fundamental flaws for lack of supervision and accountability on institutions that have received federal aids. AAEA continues to urge the policy makers to restlessly, diligently, tactfully work to root out the college cost problem. If the State of Washington can slash 20% of college tuition by Fall semester 2016, why other states cannot start implementing the same policy? The fact that the tuition can be reduced show:
1. In the past young Americans and their family have been overcharged by at least that amount per year.
2. The reduction may reflect the level of inefficiency and waste of resources that have been occurring at many US colleges per year.
3. Transferred wealth has occurred from the student family and young Americans to somebody else at least at the same rate per year.

Promoting accountability may not solve the entire problem instantly, but it surely will bring players on the right tract to serve the public’s interests and not anyone else’s.