It would suck for the folks who paid tens of thousands of dollars for the privilege to teach in states like New York where a graduate degree is mandatory for public school teachers.
It's going to take almost two decades for the master's "bonus" to cover the cost of my wife's graduate degree.
If times were good and budgets were flush you can be sure reform proponents would suggest using the excess capital to grandfather the old systems in and support the new ones.
However, that's not the case we're in right now. That doesn't mean it won't change in the future. It's also possible (likely?) that reformers' strategy for lean times will be less successful than the strategy for times of excess. Only time will tell!
It's going to take almost two decades for the master's "bonus" to cover the cost of my wife's graduate degree.