President Patricia McGuire presented testimony before the Senate Finance Committee today on college costs, tuition and financial aid. “Report Card on Tax Exemptions and Incentives for Higher Education: Pass, Fail or Need Improvement?” was the focus of the Senate Hearing, convened by Senator Charles Grassley.
At the hearing, President McGuire, one of six panelists, told members of the Senate Finance Committee:
In your effort to understand and construct policy for the very few very wealthy institutions in this nation, do no harm to the rest of us whose students need our good work and scarce resources, and who also need the ongoing support of federal financial aid in even more generous measure. Incentivize good conduct for those with wealth, yes. But don’t penalize the vast majority of smaller, less well-endowed private colleges and universities by tinkering with our tax exempt status.
Read the testimony by all of the witnesses, as well as the video of the proceedings (use Real Player) at the Senate Finance Committee home page.