Tap here to turn on desktop notifications to get the news sent straight to you. While this may sound like a large sum, it could actually save money.
Share via Email Goldsmith University students protest against the increase in tuition fees. Graeme Robertson Education has long been seen as a principal source of economic mobility. But for years now public education, and especially public higher education, has been under attack.
American states now spend one-fifth less per public college student on average than they did a decade ago. In California, which once boasted a public higher education system that was the envy of the entire world, state funding per-student has been cut in half.
As a result, despite the fact that fees for tuition, room and board have been rising faster than inflation for the last 20 years, public universities in the US have been forced to make deep cuts in the programmes and services they provide to make up for this hole in their budgets.
Similar cuts have been made in the UK, where in the name of rebalancing the budget, the government seems determined to dismantle what has been an extraordinarily successful system of public-financed higher education and replace it with one modelled on the private debt-financed system of higher education that is already on the verge of collapse in the US.
Because neither the existing US nor the prior UK funding model seems to have much of a future in the current economic and political climate, what I propose is this: Not means-tested, not cheap, not subsidised, but free.
These promises would then be stacked together for each university class or cohort for example, the class ofsecuritised, and sold to investors at home and abroad. Through the securitisation process, investors would acquire an equity interest in the average income of the entire cohort.
Because average income moves with inflation, these securities would be largely risk-free, and therefore would be very attractive to investors.
Watch video · Supporters of tuition-free higher education say it is an investment that benefits all Americans. But opponents say expecting taxpayers to shoulder the cost is . Nov 18, · Of course, there are reasons beyond economics to provide free higher education. Not only do we need a more educated workforce, but we also need more educated citizens. It is also important to point out that people with higher education degrees report a higher level of health and happiness. Jan 23, · Should a college education be free? Why? I think it is unrealistic to try to give a free college education. There is a lot of work ahead of us before a completely free education comes into reach. With that being said, .
Some of these savings could even be returned to the taxpayers in the form of tax cuts. The payments ultimately made by each individual student would bear a strong relation to what turned out to be the financial value of their university degree, something that does not necessarily happen now.
They would provide enforcement services against those who failed to pay, but given that payments due are tied to income received, failures to pay should be rare. And unlike the current system for capping and forgiving student debts, no contribution from the public purse would be necessary to ensure that these payments were affordable for all, for affordability would be built into the very nature of the promise.
Look at what this does. It satisfies the concerns of the left: No longer would poor students have to choose between working long hours at menial low-wage jobs to finance their education, thereby jeopardising their ability to perform well in or even complete their courses, and taking on large debts they cannot begin to pay.
Under my proposal, no one would be forced to pursue high-income occupations in which they were not really interested for fear of being otherwise unable to pay their education debts. Instead of merely being used to create economic weapons of mass destruction, the advanced techniques developed by the financial services industry would now be able to be used for a far more constructive purpose — creating investment vehicles of mass education.
This content is brought to you by Guardian Professional. Looking for your next university role? Browse Guardian jobs for hundreds of the latest academic, administrative and research posts.Nov 19, · Kirsty Haigh, NUS Scotland's Vice President Communities also commented: “We have come out because we firmly believe in free education; we believe it .
Nov 18, · Of course, there are reasons beyond economics to provide free higher education. Not only do we need a more educated workforce, but we also need more educated citizens.
Should College Be Free Words | 4 Pages. Should college be free? Posted on May 8, by writefix Should college education be free, or should university students be required to pay tuition fees? Some countries have free education from kindergarten to university, while students in other countries have to pay at every step of the way.
Jan 23, · Should a college education be free? Why? I think it is unrealistic to try to give a free college education. There is a lot of work ahead of us before a completely free education comes into reach. With that being said, . Education should be free One’s mind is boggled by the multitude definitions of “Education”.
For some, education is a gateway for a bright future, for others it is money waster and not exactly necessary in order to achieve one’s goals. Higher Education should be free People have more opportunities for job and employment if they are educated meaning they have access to material conditions which they need for better life such as health care and some necessary services which give protection and safety.