Families are worried. They are worried because they have watched the price of a college degree skyrocket while their incomes stagnate. And they are right to be worried because the way the federal government funds higher education is broken.
If your state wants to spend money on upper-income students and decrease the number of STEM graduates, then go ahead and keep your merit aid program. But in states with limited financial aid and higher education budgets, policymakers should consider more effective ways to allocate their billions in funding.