This research is useful in our current environment of reduced federal and state funding and rocketing tuition increases (in some cases). Seems to me that more attention has to be paid by our state university governing bodies to reducing costs and increasing quality by examining research in this study funded by TIAA-CREF. There are some very interesting ideas and concepts here.
In Michigan the legislature may want to spend time talking about some of these issues with University Boards instead of just university presidents. It is the Boards who set policy and future strategic directions. The legislature can use funding restraints to control degree/program expansions, incentivize administrative efficiencies through strategic alliances, joint ventures and/or administrative mergers. They could also look at incentivize universities that share academic programs while eliminating duplicative academic programs. More on all this later.