Today we learned that Mitch Daniels, former governor of
Indiana and current president of Purdue University will be stepping down from
his post at the end of this year. This will end an almost decade-long tenure at
the helm of that institution but will also mark the end of an era for his
leadership in the greater realm of higher education. Daniels’ leadership
brought unprecedented innovation to an institution, but also an industry that
is notoriously static.

I had the pleasure of witnessing Daniels’ work up close as
he launched the “Back a Boiler” program, an Income Share Agreement (ISA)
program that helped Purdue students cover expenses left uncovered by federal
and other forms of financial aid. At the time, ISAs were an untested model,
living only in the dreams of market-minded wonks and academics. But Daniels,
seeing the value in the idea, managed to launch the ISA industry into existence
while creating the program that would serve students at Purdue. Thousands of
students, across dozens of institutions, have now paid for college with the
help of an ISA contract that likely would not have existed without Daniels’
efforts.

Having witnessed Daniels’ ability to will this idea into
being shed light on how he managed many other impressive feats of innovation
during his tenure as president of Purdue. The most remarkable of these includes
keeping tuition flat for ten consecutive years—an almost unthinkable
accomplishment in an industry known for rates of inflation exceeding that of any
other segment of the economy.

Daniels’ career demonstrates a seemingly limitless
professional and political potential. He surely would have made an important
mark in whatever field he chose to pursue at the conclusion of his political
career. I am grateful that he chose the field of higher education as an outlet
for his many talents. Purdue and the industry of higher education are
better for his service.

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