Throughout the 20 th and 21 st centuries, a new realization has hit the world regarding the importance of college education. Without a doubt, graduating from an institution of higher education provides an individual with the opportunity to craft their professional life. The last century has seen in the United States shifting from a predominantly industrial economy to a service industry. Therefore, this has increased the necessity to receive advanced training and education. However, the high cost of tuition has been a significant barrier to the education and professional realization of many students. Research by Archibald and Feldman (2012) established that college tuition rises faster than the inflation rate. Therefore, the financial framework of colleges and universities locks many students and deprives the country of much-needed professionals. Making college free has wider benefits for society since it widens the economy, reduces debt burden, and enhances equality.
Widening the Economy
College should be made free because it widens the economy and guarantees the nation of different professionals. The US has many bright and innovative students that complete education at the high school level with the ambition of pursuing their dream careers. However, such aspirations become obsolete when they cannot afford the tuition fee. Expanding higher education access has significant economic benefits for the individual and society at large. The tuition-free policies ensure that students who would otherwise not have enrolled to access education (Economists Say College Costs Hurt Economy). Research has demonstrated that college completion rates are significantly low in the US, especially for students emanating from low-income families (Archibald & Feldman, 2012). Increasing the rate of graduation has fundamental benefits for the country as a whole. First, it ensures that students are well-poised to contribute to the economic well-being of the country. Secondly, graduates receive the necessary skills needed to contribute to the most fundamental aspects of the US economy, including technology, innovation, manufacturing, and the service industry.
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Higher tuition fees, if not changed, will continue to reduce the number of students attending college. The policy of "zero tuition" can have far-reaching effects on the economy of the country. As a country, America has been transitioning from an industrial to a service industry. More professionally qualified individuals are required to expand the ever-diversifying economy. Empowering the students through higher education places them at an economic advantage (Archibald & Feldman, 2012). The engineers, doctors, economists, and teachers will have a direct impact on the economy. On average, college graduates are more likely to earn more than their high school counterparts. College should be free so that the country can produce well-earning individuals that can contribute to the economy due to the high purchasing power (Archibald & Feldman, 2012). Policymakers have an important duty to view college education from a wider economic perspective. They must understand and appreciate that the economy's expansion relies on a highly educated and competitive workforce.
Reduction in Debt Burden
Many American students emanate from low-income families and therefore, cannot afford a college education. Such students are significantly reliant on higher education loans to facilitate their tuition studies. However, this has counterproductive effects as these students must repay the loans once they have completed their studies. Research has illustrated that the average student debt per capita is $31,172 (Hess, 2019). The debts accrue large interests, especially over a long-term period. Despite the substantial debts, most of these graduates are not guaranteed jobs once they graduate. If colleges are made free, the debt burden will be reduced, and students can focus on building their economic and social life rather than repaying the loans. The expensive tuition and the subsequent borrowing of loans mean that the students will take longer to purchase items such as cars and houses. Graduation without debt means that individuals have better opportunities to earn, spend, and save for the future.
The research by the Federal Reserve has shown that half of the students who attended college in 2018 are living in debt. The rate of student debt in the country has been on the rise over the past decade. In 2009, the student loans in America stood at $772 billion. By the end of 2019, the debt had increased to $1.6 trillion, which is an increase of about 107% (Hess, 2019). Higher education is the most important investment that an individual can ever make. However, student loans can be regarded as a significant liability that jeopardizes the welfare of the students. The loans should be changed to grants and sponsorship that allow students from low-income families to access education. Living without the debt burden means that these learners are better-poised to achieve their dreams and live lives that reflect their education efforts.
Enhancing Equality
The free college has been at the hem of Democratic politician's agenda. Their primary argument is that removing the tuition fee will enhance equality and provide each student an equal opportunity regardless of their economic status. Education should not be left to exist within the forces of demand and supply. Allowing education to exist in a free market makes it a preserve of wealthy families in the country. Therefore, only wealthy individuals will take their students to colleges and universities. Therefore, the government must move quickly to make college education free as a way of establishing equality. Traditionally, people of color have suffered the most in terms of their inability to afford college tuition. African Americans and Hispanics have a lower college attendance rate than the non-Hispanic white counterparts. Education should be regarded as a human right for every citizen in America regardless of their socioeconomic conditions. Colleges and governments at large must play a critical role in removing the barriers to its access.
Counterargument
However, making college education free could also restrict the flexibility of low-income students. With free college programs, students have limited power in choosing where to enroll. As a result, these students are more likely to enroll in colleges that do not necessarily satisfy their needs. With limited choice, students have little access to colleges that are likely to propel them to success (Whistle & Hiler, 2019). Therefore, making college free reduces the bargaining power of students and hence the quality of education. However, the government must put in place measures that ensure that education is not diluted. Free college education must be accompanied by state and federal government intervention through grants and financial support. Students should be enrolled based on merit with adequate support from the institution and the governmental authorities.
Conclusion
In conclusion, making college free has wider benefits for society since it widens the economy, reduces debt burden, and enhances equality. First, it broadens the economy by guaranteeing a consistent flow of competent professionals to occupy various economy areas. Also, graduates earn well hence allowing them to spend and spark the economy of the country. Furthermore, it reduces the debt burden and ensures that students are better placed to achieve their goals rather than paying the hefty debts and interests. Eliminating tuition fees makes higher education a necessity rather than a privilege. Both high and low-income families can access education and realize their goals. Opponents contend that making education free limits student's choices and jeopardize the quality of education. However, this can be prevented by creating strong policies and providing strong financial support to students.
References
Archibald, R. B., & Feldman, D. H. (2012). The anatomy of college tuition. The American Council on Education , 1 .
Economists Say College Costs Hurt Economy https://learningenglish.voanews.com/a/college-costs-hurt-economy/1840989.html.
Hess, A. (2019). Student debt increased by 107% this decade, Federal Reserve data show. Make It https://www.cnbc.com/2019/12/30/student-debt-totals-increased-by-107percent-thisdecade.html#:~:text=Today%2C%20some%2044%20million%20Americans,even%20higher%20among%20young%20people .
Whistle, W. & Hiler, T. (2019). Why Free College Could Increase Inequality. Third Way https://www.thirdway.org/memo/why-free-college-could-increase-inequality
