From the linked article: “The rapid expansion of access to college has significantly altered the average quality of college graduates. The rising number of college students has been drawn disproportionately from the lower tail of the ability distribution. Educational resources were also spread more thinly across the larger number of colleges”
@NashvilletoTexas: Considering how small the scholarship about is, I’d expect the effect to be a small one. In any case, to the state that would be a good thing. The law of supply and demand also says that cheaper labor would attract more companies.
@PurpleTitan : You are right about that…theoretically, from a state perspective, it could inspire a virtuous cycle in which lower salaries for college educated workforce attracts more employers, who generate more state tax revenues, who fund this strategy. The only “losers” then are the graduates who would have been able to go to college anyway but decided to stay in-state and took advantage of this deal, but they may at worst be break-even with lowered salaries = free tuition.
Oh, please. I think that’s bunk (reducing salaries). First, you know how many jobs there are in NYC? A lot. I have worked my entire career in NYC. I haven’t wanted to leave because a) this is where I’m from and I like it here, and b) I’m raising my family here. I never had to tell an employer that I can’t or won’t leave the state. Second, Excelsior students CAN leave the state, and their scholarship will convert to a loan. If a student is offered a high-paying job in Silicon Valley taking the loan would be worth it. They can also use it in negotiations if the company out of NYS is heavily recruiting that person.