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For much of this decade, both Congressional and administration budget projections showed a decline in science and technology accounts of between 20 and 30 percent in real dollars. The real impact to date has been far less severe.
Of course, tax revenues have ended up being substantially higher than they were at the time these dire projections were made, and we are very close now to having a balanced budget. All that has been very helpful.
Given the best of all possible worlds, I would make a few changes. I would place emphasis on increasing the amount of funding that goes into programs like Pell Grants, that purely and simply award funds to students who really cannot afford full tuition.
I would also certainly continue to keep loan repayment interest rates as low as possible. And I would spread the financial aid a little less thinly across all income brackets.
Over-reliance on strictly economic justifications has already begun to hurt the quality and range of education at every level of American life.
Our goal has been to more effectively promote the value of publicly-supported research at our universities, both to the Congress and to the general public.
The term 'cost shifting,' as I use it, refers to those items in a university's budget that used to be reimbursed by the federal government but are no longer paid for by them.
Literally from the moment I came in the door of MIT, it was very clear that a highly productive 40-year partnership between U.S. research universities and the federal government was badly eroding.
