Higher education often operates under old rules -- rules that continue despite an increasingly diverse student population and improved understanding of human behavior and choice. Under these old rules, fewer than half of students graduate on time, if at all, and troubling equity gaps exist based on income, race, and ethnicity. It is time for new…

The old saying that time is money is nowhere more true than in U.S. higher education. Time is measured two ways in academia--by the calendar and by the credit hour. Both can be costly, whether in the form of tuition, taxpayer subsidies, or the wages students lose with each additional term enrolled. For many years, in credit terms, the standard for…