I agree. The system is set to means test in a backwards looking fashion rather than a forward looking one. I don’t think that makes much sense. I don’t especially see why a future-hedge-fund worker ought to get free tuition even if his parents don’t make much money.

That said, insane cost growth is obviously the overwhelming issue in education over everything else. Almost any system that reins that in is going to be superior to one that doesn’t—-even if it is otherwise less fair.