Free Community College
Introduction
In the age of technology, education is of the utmost importance. In order for one to succeed in life, one must have the skills required to be a productive member of society. By allowing all Americans to have access to free community college we can allow this to happen. If the college educated working professionals of our nation understands the benefits and vote for free community college, it would allow the nation to stay competitive in the global economy and pass policy to support equality within education. While there is often a debate if a free higher education will actually benefit our nation, the evidence shows us free education is both beneficial to the individual and the economy. “So if we want …show more content…
While this is a valid point, and no one wants taxes increased, it isn 't really a sound argument. Currently, the federal government, through Pell Grants, distributes $28.2 billion a year (2015-2016) in federal aid (Total). Free community college would cost just “…$60 billion over ten years,” which is roughly equivalent to two years of federal funding at the current rate (Total). Since many students already attend college for free or almost free, nothing would really change, our taxes would not increase and many students would have the opportunity of gaining a higher education without struggling to gain financial aid that already exists. The playing field would become equal and all Americans would have the opportunity to attend college and gain an education. Education is the key to equality, closing the gender wage gap, and eliminating racial pay …show more content…
Since education is in such demand many people go to extreme lengths to obtain one. The average student debt upon graduation is $25,250 (Cary). Many people end up paying off this debt well into their 40s and is one reason the middle-class growth is slowing. Where these rate hikes become unethical, is "…it costs roughly $8,000 a year to educate an undergraduate at an average residential college. Yet the average college bill--including room and board--charged at a private four-year university is $37,000, and $16,000 at a public one” (Cary). So how does this make sense? It doesn’t. Two economists discovered that there was little price elasticity associated with the cost of tuition and suggest that “…tuition can be used as a lever to offset revenue losses from declining appropriation” (Hemelt, Marcotte). If a college would increase its cost 5%, which was an average of $210 per student, the college would lose about $225,000 in revenue from a decrease in enrollment, but would generate an additional $2.24 million in revenue from the remaining students. The economist found this to be a clear and simple short term revenue generator and one which had little downside for the college itself (Hemelt, Marcotte). Free community college could help the United States combat this problem. By offering a free and alternative option, four-year universities would be forced to change their practices.
Introduction
In the age of technology, education is of the utmost importance. In order for one to succeed in life, one must have the skills required to be a productive member of society. By allowing all Americans to have access to free community college we can allow this to happen. If the college educated working professionals of our nation understands the benefits and vote for free community college, it would allow the nation to stay competitive in the global economy and pass policy to support equality within education. While there is often a debate if a free higher education will actually benefit our nation, the evidence shows us free education is both beneficial to the individual and the economy. “So if we want …show more content…
While this is a valid point, and no one wants taxes increased, it isn 't really a sound argument. Currently, the federal government, through Pell Grants, distributes $28.2 billion a year (2015-2016) in federal aid (Total). Free community college would cost just “…$60 billion over ten years,” which is roughly equivalent to two years of federal funding at the current rate (Total). Since many students already attend college for free or almost free, nothing would really change, our taxes would not increase and many students would have the opportunity of gaining a higher education without struggling to gain financial aid that already exists. The playing field would become equal and all Americans would have the opportunity to attend college and gain an education. Education is the key to equality, closing the gender wage gap, and eliminating racial pay …show more content…
Since education is in such demand many people go to extreme lengths to obtain one. The average student debt upon graduation is $25,250 (Cary). Many people end up paying off this debt well into their 40s and is one reason the middle-class growth is slowing. Where these rate hikes become unethical, is "…it costs roughly $8,000 a year to educate an undergraduate at an average residential college. Yet the average college bill--including room and board--charged at a private four-year university is $37,000, and $16,000 at a public one” (Cary). So how does this make sense? It doesn’t. Two economists discovered that there was little price elasticity associated with the cost of tuition and suggest that “…tuition can be used as a lever to offset revenue losses from declining appropriation” (Hemelt, Marcotte). If a college would increase its cost 5%, which was an average of $210 per student, the college would lose about $225,000 in revenue from a decrease in enrollment, but would generate an additional $2.24 million in revenue from the remaining students. The economist found this to be a clear and simple short term revenue generator and one which had little downside for the college itself (Hemelt, Marcotte). Free community college could help the United States combat this problem. By offering a free and alternative option, four-year universities would be forced to change their practices.