Department of Education data show that from 1985-1986 to 2015-2016, the average one-year tab for college tuition, fees, and room and board charges spiraled sharply higher, from $9,228 to $39,529 at private four-year schools, and from $3,859 to $19,189 at their public counterparts. At these prices, the cost of four years to complete studies for a bachelor’s degree heavily taxes student and family finances and saddles many with vast sums of debt that hobble their financial lives for decades.

Making college “free,” as some have demanded, would not solve these problems. A government program that pays for every student’s college education would not lower costs; it would merely shift the costs to taxpayers. A free college education program, indeed, would likely further increase costs, because more would choose to attend college on the government’s dime and the increased demand would push schools to raise their prices even higher.