List of the Pros of Free College
- It would reduce the amount of student debt being carried over time. ...
- It would provide more people with relevant vocational knowledge. At the moment, just 56% of students who are currently enrolled in their first year of college will earn a ...
- It could lead to new levels of innovation. ...
- It would allow students to focus on their education. ...
- Pro #1: Free college would expand access to education. ...
- Pro #2: A more educated population would have economic and social benefits for the country. ...
- Pro #3: Students would be free to follow their passions and abilities. ...
- Pro #4: Free college would help repair historic inequities.
Why free college is a bad idea?
While never having to be in debt after college would be nice, the cost would not outweigh the benefit, ultimately hurting society as a whole. A major issue resides in the high cost of taxes associated with a free college program. Estimates of the program costs could range anywhere from 47 billion to a trillion dollars.
What are the pros and cons of free college?
There are no tax deductions on the federal level. Regardless of the 529 plan you pick, the money grows tax-free. Plans offer a variety of investment options, generally different combinations of stocks and bonds, allowing the account owner to decide just how much risk to take on.
Who would benefit most from free college?
Free college programs benefit higher-income students the most. Contrary to their reputation as “progressive,” free college programs overwhelmingly allocate taxpayer dollars toward upper- and upper-middle-class students, giving them a further head start than they already have in the higher education system.
Why should college should not be free?
College should not be free because it would lead to tax raises, the value of a degree would decline, and the overall quality of the educational environment would decrease. Bernie Sanders, U.S. Senator and Democratic candidate, is in favor of tuition-free public colleges and universities and states that “Too …show more content….
What are the pros and cons of free college?
Top 10 Free College Pros & Cons – Summary ListFree College ProsFree College ConsHigher overall education levelCollege education as an investmentLower unemployment ratesThose who profit should pay for itHigher average salariesHigher burden on taypayersAlso kids from poor families can go to collegeEducational inflation6 more rows
What are 3 reasons why college should be free?
5 Reasons Why College Should Be FreeImproves Society. When people are more educated, they can solve problems better. ... Widened Workforce. Along with technological progressions comes a shift in the workforce. ... A Boosted Economy. Most students graduate with a massive amount of debt. ... Increase Equality. ... More Focus.
Does free college improve society?
Through volunteer work, leadership, and philanthropic contributions, public university graduates enrich the civic and economic life of their communities. They also contribute more in taxes and are less reliant on government services than their peers whose highest degree is a high school diploma.
Why college should be free essay conclusion?
Conclusion. In conclusion, free colleges are a good initiative aimed at helping students, especially those who come from low-income families and cannot afford to receive a degree. The program allows more individuals to receive a good education and become qualified in the chosen sphere.
What are the disadvantages of free college?
List of the Cons of Free CollegeIt requires someone to pay for it. ... It might encourage financial irresponsibility. ... It could devalue the worth of a diploma. ... It would cause more people to go to college. ... It might reduce state programs in other essential areas.More items...•
Does free college help the economy?
Free College Would Drive Economic Growth The increase in post-secondary education is the key that propels economic development of nations (Deming, 2019). As college students graduate without debt, this would give them the ability to earn, save and spend immediately, which could stimulate the economy.
Will free college lead to more degrees?
Free tuition is unlikely to increase postsecondary educational attainment because quality, not cost, is the main obstacle to getting a college degree. Low-income students in the U.S. already pay, on average, no net tuition to attend community colleges—yet barely a third graduate.
What are the benefits of college?
10 Benefits of Having a College DegreeIncreased Access to Job Opportunities. ... Preparation for a Specialized Career. ... Increased Marketability. ... Increased Earning Potential. ... Economic Stability. ... Networking Opportunities. ... A Pathway to Advancement. ... Personal Growth and Improved Self-Esteem.More items...•
Pro 1: Free College Would Expand Access to Education.
Okay, this one is a little obvious, but offering free college tuition would make it possible for more people to pursue higher education. The bright...
Pro 2: A More Educated Population Would Have Economic and Social Benefits For The Country.
If more Americans were living up to their potential, getting a college degree and getting better jobs, there would be positive ripple effects. Prop...
Pro 3: Students Would Be Free to Follow Their Passions and abilities.
Because the current college education system leaves many students with high amounts of debt, students’ choices are constrained. They may choose a m...
Pro 4: Free College Would Help Repair Historic Inequities.
In the U.S., we don’t just have a problem of people being too poor to pay for college. We have a problem of generations of inequity based on discri...
Con 1: The Rich Would Get Help They Don’T need.
If we made college free for everyone we would be subsidizing the rich. Families that have the money to pay for some or all of the cost of a college...
Con 2: Free College Would Be expensive.
Some critics of free college say it would be too expensive to implement. If the idea of raising taxes is a no-go with you you’re probably not a big...
Con 3: It Could Flood The Market and Lead to Credential Creep.
Some critics of the free college idea argue that it would lead to a flood of graduates with mediocre credentials all competing for a limited number...
Con 4: It Offers No Way to Control What People Study.
Some opponents of free college argue that the government shouldn’t be subsidizing people’s degrees in majors that aren’t likely to lead to a good j...
What is the difference between a first dollar and a last dollar?
First-dollar programs eliminate tuition before all grants and scholarships. A last-dollar approach eliminates tuition after all scholarships and grants. So, students who receive outside scholarships or a Pell Grant would have any remaining tuition covered by the government.
How much did eliminating community college tuition increase enrollment?
By eliminating community college tuition, the author estimated a 26% increase in overall enrollment in higher education. And 86% of the increase at community colleges would be due to students who otherwise would ...
Why would middle and high income students be harmed?
However, the study showed that middle- and high-income students would actually be harmed because, as low-income students shift their enrollments from for-profit and non-selective four-year colleges, the schools would raise tuition to make up for the lost enrollment.
What is the FTC report?
A new working paper from the Federal Trade Commission ( FTC) investigates who benefits from free college programs. Examining three ways to make community colleges tuition-free, the report considers the effects of the programs and their impacts on enrollment and degree completion.
What does "free college" mean?
In practice, it typically means eliminating tuition through three variations of policy design: first-dollar, last-dollar, and/or need-based. And it almost always means undergraduate tuition for public colleges and universities.
Which class benefits the most from the Pell Grant?
When looking at who benefits from the program, the study showed that middle-class students benefit the most in terms of reducing tuition paid because low-income students often don’t pay tuition because their Pell Grant can cover the cost.
Is the last dollar program regressive?
Similarly, last-dollar programs increase degree completions, but at a lower rate (11%) compared to first-dollar programs (22%). Many criticize last-dollar plans as regressive because they provide more benefit in tax dollars to people who do not qualify for need-based aid programs like the Pell Grant.
Should college be free? Understand the debate from both sides
Kelly Dilworth is a personal finance expert who has written hundreds of articles for dozens of publications, including Forbes Advisor, LendingTree, and CreditCards.com. She holds a bachelor's degree from Sarah Lawrence College.
Types of Publicly Funded College Tuition Programs
Before diving into the weeds of the free college debate, it's important to note that not all free college programs are alike. Most publicly funded tuition assistance programs are restricted to the first two years of study, typically at community colleges. Free college programs also vary widely in the ways they’re designed, funded, and structured:
Pros: Why College Should Be Free
Proponents often argue that publicly funded college tuition programs eventually pay for themselves, in part by giving students the tools they need to find better jobs and earn higher incomes than they would with a high school education.
Cons: Why College Should Not Be Free
Free community college isn’t a universally popular idea. While many critics point to the potential costs of funding such programs, others identify issues with the effectiveness and fairness of current attempts to cover students’ college tuition. Here’s a closer look at the concerns about free college programs.
What the Free College Debate Means for Students
With Congress focused on other priorities, a nationwide free college program is unlikely to happen anytime soon. However, some states and municipalities offer free tuition programs, so students may be able to access some form of free college, depending on where they live.
How To Cut Your College Costs Now
Saving money on college costs can be challenging, but you can take steps to reduce your cost of living. For example, if you're interested in a college but haven't yet enrolled, pay close attention to where it's located and how much residents typically pay for major expenses, such as housing, utilities, and food.
Should community college be free?
It’s a big question with varying viewpoints. Supporters of free community college cite the economic contributions of a more educated workforce and the individual benefit of financial security, while critics caution against the potential expense and the inefficiency of last-dollar free college programs.
What would happen if we made college free for everyone?
If we made college free for everyone we would be subsidizing the rich. Families that have the money to pay for some or all of the cost of a college education might choose instead to take advantage of free college at a public institution. In effect, the government – and taxpayers – would be subsidizing the rich.
Why do people go to college that is not the best?
They might go to a college that’s not the best one they could get in to because it’s cheaper. They might take fewer risks later in life because of their debt. High levels of debt discourage people from starting businesses, moving to another city in search of better job opportunities or changing jobs.
Why don't Americans have the opportunity to go to college?
Many Americans don’t have the opportunity to go to college because their parents and grandparents and so on didn’t have the opportunity. Free college would help redress that inequity. Con 1: The rich would get help they don’t need. If we made college free for everyone we would be subsidizing the rich.
Is free college too expensive?
Some critics of free college say it would be too expensive to implement. If the idea of raising taxes is a no-go with you you’re probably not a big fan of the free college idea. Some plans, such as the one Sen. Sanders proposed, would use a combination of federal and state funds to make public colleges tuition free.
What is the last dollar scholarship?
Most states propose to fund free college plans as “last-dollar” scholar ships. This means that the state commits to covering unmet financial aid after all other eligible funds — such as the federal Pell grant — are exhausted. Additionally, most plans cover tuition and fees but not additional expenses such as room and board or textbooks.
What is the Excelsior Scholarship?
New York Governor Andrew Cuomo recently announced a plan, the Excelsior Scholarship, to cover state tuition costs for middle- and low-income students across the state. The proposal, which would cover families making up to $125,000 per year, also includes two-year community colleges. While heralded as an initiative that would put New York at ...
What does "free college" mean?
What Does Free College Really Mean? Free college programs that cover students’ tuition are a step toward addressing issues of the cost of higher education, but leave questions of quality unanswered. New York Governor Andrew Cuomo recently announced a plan, the Excelsior Scholarship, to cover state tuition costs for middle- ...
What happens if you lower the price of college?
If you lower the price of college to zero, you are going to get a lot more students enrolling. Absent significant increases in state funding for higher education, the same pool of resources will then be spread across many more students.
Does the last dollar plan cover tuition?
Additionally, most plans cover tuition and fees but not additional expenses such as room and board or textbooks. This “last-dollar” approach helps keeps program costs low, but it is only possible because of the generosity of existing financial aid programs.
Is college a ticket to the middle class?
More than ever, a college degree is a ticket to the middle class. The question is how to get there. One concern — raised by others such as Matt Chingos at the Urban Institute — is that most of the benefits of free college plans accrue to higher-income families. The reason goes back again to the “last dollar” design.
Do low income students get financial aid?
Low-income students already receive a lot of need-based financial aid from the federal government. Many states also already have need-based aid programs. The additional value of a last dollar scholarship is relatively low for these students — they are already paying close to zero in tuition and fees. In contrast, families that make too much money ...
Which candidate supports eliminating tuition and fees at public colleges?
Bernie Sanders supports eliminating tuition and fees at public colleges, whereas Hillary Clinton favors increases in student aid targeted at low- and middle-income students. This report provides new evidence on which groups of students are likely to benefit the most from a policy that eliminates tuition and fees at public colleges and universities. ...
Is the debate over free college more likely to be resolved on political grounds than on empirical grounds?
The debate over free college is more likely to be resolved on political than on empirical grounds, but the ultimate design of proposals to change how students and taxpayers pay for higher education should carefully consider their likely distributional consequences and the tradeoffs between targeted and universal programs.
Why do students have to work while in college?
Students who rely on loans to attend college will get the money they need for tuition, but not much more. Some things aren’t covered, such as housing, books, and labs that the loan isn’t covered. Because of this, many students have to work while in college to cover the essentials. A job can take a student’s focus away from school, which can hurt their grades. Even if everything is covered, many college students get jobs to get ahead of the loan payments that will eventually be due. If college were free for everyone, students wouldn’t need to worry so much about their debt and the things that aren’t included in the tuition, meaning they wouldn’t have to work during college. This would allow them to get better grades in school and better job opportunities in the future.
What happens when you graduate with a high debt?
When students graduate with a high amount of debt, they often put things off to pay the debt down. Many recent graduates wait to buy their first home, get married, and start a family. If college were free for everyone, college graduates wouldn’t need to worry about being saddled down with a mountain of debt. This means that they would have the money to spend on a house and a family. When grads can spend the way they want without worrying about debt, it can be very beneficial for the economy.
What are the pros and cons of free education?
Although it likely won’t happen, there are several benefits of free college for all in the United States. 1. Reduce the Amount Of Student Debt. Student loans are the most common type of financial aid requested by college students.
Why do students carry debt?
A student loan is a graduate’s first significant financial transaction, and making the payments gives them a lesson about paying off debt for the future. Also, when a student pays off their debt, it helps them to establish credit. If college were free, these lessons wouldn’t be learned, and it would be harder for graduates to establish good credit.
How would free college affect the value of education?
Free college would change the value of education from the standpoint of an employer. Students would still be allowed to attend a four-year college, and a degree from one of these schools would be looked upon higher than an education from a free tuition school. At the same time, students who have skills and talent but no money would still attend college. This would make it possible for them to compete with all other applicants when looking for a job.
Why would states build colleges on government ground?
States would build colleges on government ground so that residents could get a free education. Unfortunately, times have changed, so here is a discussion on the Pros and Cons of Free Education. Today, children can attend public school from kindergarten through the 12th grade for free.
Why is free college bad?
Some think that free college would be bad because some college students are more focused on their social life and partying in school than they are learning. Free colleges could create guidelines that would force students to be held accountable for their education. To be able to attend, students could be required to maintain a specific GPA. They could also be expected to graduate on time and be placed in a job placement service. With these stipulations in place, students would be held accountable and work harder to remain in school.
What act made it possible for states to place a college on government land to promote an advanced education?
Land-grant institutions, established by the Morill Act of 1862 , made it possible for states to place a college on government land to promote an advanced education. These public colleges often offered classes without tuition. Here are the pros and cons of going back to such a system.
What would happen if college was free?
If college was free, the financial lessons would disappear and there would be fewer opportunities to establish a strong credit profile. 3. It could devalue the worth of a diploma. In the United States, student loans have already devalued the worth of a 4-year degree.
How much did student loan debt rise in 2015?
1. It would reduce the amount of student debt being carried over time. From 2011-2015, the amount of student loan debt associated with college attendance rose by 39% , reaching $1.3 trillion. Student loans are the most common type of financial aid that is requested by college students.
How much does the Pell grant cover?
The average Pell grant in the United States currently covers about 30% of tuition costs. In the generation before, this grant covered 75% of tuition costs. When there is less debt involved, students can focus more on their school work and less on finding a job to pay for those expenses.
Why are taxes important in high school?
Taxes help to support the educational process through high school. Once you receive a high school diploma, however, the price of schooling rises dramatically. That is why many have wondered if college should be free as well. What many people may not realize is that in the mid-19th century, colleges were free in the United States.
Is free college a safety net?
It would equip people for a changing economy. Free college would also be its own form of a safety net for workers in an economy that is changing. As one industry winds down, another picks up. That requires workers to be retrained, which at the moment is a financial responsibility which falls on them.
Is financial responsibility a form of responsibility?
Even under a system of free college, students would still have a stake in their education. Financial responsibility is only one form of responsibility that is possible.
Five Issues in the Debate
There are five main themes that linger at the center of the debate on why should college be free – the issue of inequality, the debt burden that it creates among students, the direct effect on the future workforce, the overall impact of having postsecondary education on society, and the significance of an educated populace in ensuring economic growth..
Main Arguments Advocating Free College
Increasing educational attainment is the main goal of free college. Economic evidence suggests that education fuels economic growth and global competitiveness (Valero and Van Reenen, 2016). Falling enrollment and inequality in higher education access are just two of the concerns frequently cited by the free college movement.
Main Arguments Against Free College
In 2020, the total number of student borrowers in the U.S. was 44.7 million, with a loan debt of $1.56 trillion. Horn (2015) argues that free college policies are misguided because they don’t address the root cause of why post-secondary education costs so much.
Increasing Attainment Through Leadership
Economic barriers are not the only reason why postsecondary completion rates have remained low. As these arguments reflect, there is a deeper problem that can be traced to state policy leadership.
Background on Free College
First-Dollar
- The author found the most positive impact from programs that covered community college tuition outright through a first-dollar program. By eliminating community college tuition, the author estimated a 26% increase in overall enrollment in higher education. And 86% of the increase at community colleges would be due to students who otherwise would not have attended higher ed…
Last-Dollar
- A number of states have chosen to enact last-dollar programs because they cost less to provide. This study found that these programs increase enrollment in higher education by 10%, nearly a third of the increase of first-dollar programs. Similarly, last-dollar programs increase degree completions, but at a lower rate (11%) compared to first-dollar programs (22%). Many criticize la…
Need-Based
- This study showed that need-based free community college programs would increase higher education enrollment by 11%, a rate comparable to last-dollar programs, though lower than first-dollar programs. The researcher found that these programs do benefit low-income students, as they fill in any gap students may have to cover tuition. However, the stu...
Why This Matters
- This research is important for policy conversations today. Democratic presidential nominee Joe Biden has proposed making public higher education tuition-freeunder a first-dollar program. However, his plan is more expansive than the ones studied here. Biden’s proposal also includes public four-year colleges and universities, as well as private Historically Black Colleges and Univ…