According to Finaid.org, on average, tuition in the U.S. increases approximately 8% every year. This means that the cost of college doubles every nine years. Yet wages have been stagnant for decades. Clearly, this is not sustainable for students, their families, and the economy. Higher education should be available to anyone and everyone, not just the privileged or the 1%. If middle class families are struggling to pay for college, where does that leave kids from lower socio-economic classes? As nice as it sounds, FREE college is not the answer.
There isn’t enough government funding to fulfill this promise and it’s too expensive to operate educational institutions. FREE would result in low-quality, and no one is interested in that. But what about AFFORDABLE? Upon graduation, students experience a negative ROI on their education investment. Perhaps they’ll reap the benefits later in life. That is, if they ever pay off their student loan debt. Universities and banks make it so easy to take out student loans, yet no one really lays out the impact of such debt. As of January 2021, the outstanding student loan debt in this country is nearly $1.8 TRILLION. Check out these jaw-dropping statistics: Investopedia – Student Loan Debt: 2020 Statistics and Outlook CNBC: Why does a college degree cost so much?