The One Big Beautiful Bill and Higher Education

Session Submission Type: Late-Breaking Roundtable

Abstract

The passage of the “One Big Beautiful Bill” represents the one of the most comprehensive federal reform of U.S. higher education in recent memory. This panel brings together leading scholar-practitioners in the higher education finance space to assess how its sweeping provisions are reshaping access, affordability, accountability, and institutional behavior.

The bill changes regulations around student loans and other forms of financial aid, introduces new accountability frameworks, expands workforce-aligned programs, and reallocates some resources towards institutions . While these reforms promise greater transparency and efficiency, they also generate uncertainty in institutional finances, student decision-making, and labor market alignment. Understanding these dynamics is critical as policymakers and administrators navigate implementation.

Our panel will explore:

• How changes to the student loan and financial aid regulations will affect enrollment and persistence?


• To what extent do new accountability metrics alter institutional incentives?


• What are the distributional effects of shifting federal resources toward community colleges and workforce programs?


• How are states and institutions adapting to federal reforms?

Panelists will discuss the policies passed in the OBBB and their implications for research and policy given the panelist’s research and public policy leadership. These contributions highlight both intended and unintended consequences of the bill, offering early insights into whether it advances equity and efficiency in higher education. By comparing evidence across institutional types and student populations, we aim to identify who benefits most and who may be left behind in this new policy environment.

The session will foster dialogue among researchers, policymakers, and practitioners, providing a forward-looking discussion of how higher education finance and accountability may evolve over the next decade. In doing so, it aligns directly with APPAM’s mission of improving public policy through rigorous analysis and evidence-based discussion.

The panelists include:

Jordan Matsudaira  is a Professor at the School of Public Affairs at American University. He is also a Nonresident Fellow at the Urban Institute in Washington, DC and a Visiting Scholar at the Federal Reserve Banks of Chicago and Philadelphia. His research focuses on using government administrative data to understand the causal impact of education and labor market policies and institutions on the economic outcomes of low-income Americans.  Matsudaira served as Deputy Under Secretary at the U.S. Department of Education in the Biden Administration. While serving in that role he created the office and served as the first ever Chief Economist of the Department.

  Rajeev Darolia Rajeev Darolia, PhD is the Wendell H. Ford Professor of Public Policy and a Professor of Public Policy and Economics at the University of Kentucky. He previously served as Chief Economist and a Senior Advisor at the US Department of Education.

 Lesley Turner is Associate Professor at the Harris School of Public Policy at the University of Chicago. Her research examines the distributional and behavioral effects of higher education.

Michael S. Kofoed (moderator) is Assistant Professor of Economics at the University of Tennessee. His work focuses on the economics of education, financial aid, and the U.S. military.

Policy Area

• Education

Secondary Policy Area

• Poverty and Income Policy

Moderator

• Anthony Yim, Brigham Young University

Organizer

• Michael Stephens Kofoed, University of Tennessee (Knoxville)

Speakers

• Lesley J. Turner, University of Chicago

• Jordan D Matsudaira, American University

• Michael P Meotti, Washington Student Achievement Council