Robert A. Brown, president of Boston University, writes "It is strange and alarming that the tax plan before Congress will make higher education skills more expensive, and less accessible to more people" in an article published in the Opinion section of The Boston Globe.
Brown notes that the House version of the tax reform plan will levy a new tax on large private college endowments; end tax deductions for student loan payments; tax the value of tuition waivers that make graduate school possible for the next generation of professionals; increase the tax burden for employees who take advantage of an employer’s tuition assistance; and reduce the number of taxpayers who itemize their deductions, which will likely lead to a decline in donations to nonprofit entities.
"From a business perspective, Amazon’s or others, you’d think we’d want more graduates in the higher education pipeline, not fewer," Brown argues. "Higher education is, after all, the business behind business, and it becomes more important every year.
"Professional competency, communication skills, critical thinking, collaboration, creativity, social and cultural awareness, and leadership are all qualities sought by employers," he continues. "They are the DNA of businesses of the future, and they are the product of higher education."
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