There are numerous things to fix when it comes to higher education today. It’s true that college is still too expensive. Graduation rates are too low. And schools need to recognize the needs of today’s students, who often must juggle jobs and family responsibilities along with their studies.

But even with its shortcomings, higher ed remains a vital engine that can power the economy, strengthen our democracy, and improve social and cultural well-being, writes Lumina Foundation's Jamie Merisotis in his column for Forbes.

High school exit exams are dissipating in states from coast to coast, to the praise of some and dismay of others. The pattern caps off a years-long trend that has only accelerated since the pandemic forced many schools to re-evaluate their relationships with high-stakes testing. 

Meanwhile, fresh questions about how to fairly measure student achievement are swirling at a time when students and their parents report feeling increasingly underprepared for college.

Illustration: Ewan White

About an hour into the call with her college’s bondholders, the president of Lake Erie College tried one last plea to get a break on the school's financial troubles.

Two months later, Jennifer N. Schuller has raised significant money from donors. Plans to boost enrollment are rolling along. But all is not rosy—the college still is waiting to hear whether those bondholders will waive payments for a while to let the college’s cash flow recover.