Financing American Higher Education in an Era of Globalization by William Zumeta et al. (review)
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Higher education in the United States must evolve to meet the demands of a changing economy and demography. In the shadow of the Great Recession, reforms that have worked in the past are no longer viable alternatives. State and federal support have failed to recover to historic funding levels. Innovative [End Page 430] approaches must be embraced for America to emerge from existing patterns and meet the growing need for an educated population.
Zumeta, Breneman, Callan, and Finney, in their timely book, Financing American Higher Education in the Era of Globalization, address these issues. They describe our society’s current and future needs for higher education, providing both historic financial and policy perspectives and current challenges. They raise the important issue of capacity and how it ties to these policy challenges, then conclude by providing a framework for addressing these challenges—all with the purpose of stimulating discussion on higher education finance reforms.
The need for this book is clearly articulated within the first two chapters. With the U.S. economy becoming increasingly knowledge-based, concerns continue regarding the quality of the labor market on a global scale. The argument is made, through a detailed documentation of data, that a continued reliance upon outdated policies regarding higher education will not serve the needs of our country, particularly when confronted with a changing supply and demand.
The authors state, “It is essential for the United States to work to retain its quality edge while also increasing degree output” (p. 8). These needs are difficult to meet with the existing financial strain on the system, including rising levels of tuition, decreasing appropriations, and aid programs that are not keeping pace with shifting demographics. An inclusive approach, with access for all race/ethnicities and income brackets, must be taken to meet these needs.
Chapter 3 traces the evolution of higher education finance and policy from a historic (19th century through 1970s) perspective. The early priorities of the federal government, including economic development and college opportunity, were clearly tied to the major movements of that era with the enactment of the Morrill Act and GI Bill. As the population shifted and the economy ebbed and flowed, the influence of information, such as the Truman Report, and federal legislation, such as the Higher Education Acts, responded. State initiatives are described as well as the origins of the long-running debate whether higher education is a public good or a private benefit. The issue of equal access to higher education was also a continuous policy issue throughout this era.
Chapter 4 brings the reader closer to the present day through a contemporary (1980s through 2010) depiction of higher education finance and policy. From the Reagan era’s focus on private goods (and subsequent decline in both state and federal support for higher education) to the Spelling Commission’s push for increased accountability, the book provides an excellent account of major policy and finance influences of the past 30 years. Shifts in demographics, enrollments, tuition levels, financial aid, and appropriations are described. The book, in some ways, foreshadows the student financial aid bubble that has threatened since the book’s publication. The federal government’s focus on access issues now concentrates more on accountability. This chapter introduces Barack Obama’s goal to increase the number of college graduates, although the need for an educated American society, in terms of degree attainment, on an international scale is clear throughout the text.
A focus on higher education policy for the states specifically is provided in Chapter 5. Initially, the authors assert that states possess the responsibility to oversee higher education, while the federal government then faces the challenge of meeting national goals, without any governing power. An important contribution of this book is the listing and description of levers that states can use to influence higher education policy and policymakers. Each lever...
