Doctors predicted Wayne Frederick, the president of Howard University, wouldn’t live past 8. Now he’s 54. Frederick came to the U.S. from Trinidad and Tobago with a dream of finding a cure for his disease, sickle cell anemia, but detoured into higher ed administration.

At an event hosted by the American Council on Education at Howard University this week, Frederick said CRISPR gene editing, a technology developed in academia, made his dream a reality. Finding cures to debilitating diseases is one of “the intangible things that higher ed does to change lives,” he said.

Higher ed has changed lives in thousands of other ways; institutions are the largest employers in 10 states; colleges have helped regenerate many of America’s Rust Belt centers. Higher education is undeniably a public good. But as concerns grow about the affordability of college, do Americans care?

In the ACE event’s discussion about the economic impact of higher ed, Alex Ricci, president of the National Council on Higher Education Resources, pointed out that despite college’s role in local and regional economies, the debate about the value of higher ed comes down to whether one thinks the benefit to the individual is greater than to society as a whole. “Many colleges and universities see themselves as a benefit shared broadly by society. Most Americans—especially those carrying thousands of dollars in student loan debt—see it as a transaction where the individual is the primary beneficiary or victim, depending on the student’s long-term outcomes,” he said.

Regardless of whether you think higher ed is a public or private good, institutions are losing the value debate. In recorded remarks for the discussion, Representative Burgess Owens, a Utah Republican, chairman of the House subcommittee on higher education and workforce development, said, “Higher education should be about value, not just prestige.” He also presided over the “No More Surprises: Reforming College Pricing for Students and Families” hearing last month where lawmakers examined ways to make college costs more transparent.

The lack of transparency on the cost of college can be life-altering for students and poses existential risks for colleges. Inside Higher Ed’s 2025 student survey found that three-fourths of the 5,000 respondents encountered some surprises in the cost of their education. These surprises can derail education journeys. One in five students said that an unexpected expense of $500 to $1,000 would threaten their ability to persist. Bad surprises also harm colleges: Students say that the lack of affordability is the biggest driver of declining public trust in higher education.

College cost transparency has been a government priority since the Obama administration, but never has public trust in higher ed been so low or institutions so vulnerable to government overreach. Republican lawmakers have seized on the problem of college affordability and cost transparency and are looking for bipartisan solutions. In May, Senator Chuck Grassley, a Republican from Iowa, introduced the Understanding the True Cost of College Act 2025, which calls for standardization of financial aid offers so students understand in simple terms what the direct costs, indirect costs and net price of college will be. Last month the Senate Committee on Health, Education, Labor and Pensions formally requested information from the sector on ways to improve transparency, lower costs and ensure a college degree is valuable to students.

Some colleges sense the urgency of the moment and are taking action on affordability. More are offering free tuition to households earning as much as $200,000 a year. Last month Whitworth University made a radical decision to stop tuition discounting and decrease its annual sticker price from $54,000 to $26,900. At the same time, a recent study found that tuition discounting is on the rise among public four-year institutions. But tuition discounts create more confusion around the true cost of college.

A reasonable question to ask is: Why are only 730 colleges members of the College Cost Transparency Initiative? If higher ed stakeholders wanted to win the value debate, they would listen to lawmakers—and students and their families—and act on affordability and cost transparency. Otherwise, policymakers will do it for them. By demonstrating their impact for individual students, colleges can make a compelling case for their broader societal value.