For more details regarding this plan, see the fact sheet.
What started this fire though? Yes, has President Obama indicated, there is a need for our workforece to be more educated to maintain pace with the global economy we are depending on, but what really made the people take a step back and look at college and student debt and scratch their heads? It may have been something like this:
The infographic above is chock full of information for you to use when arguing with your mother or father about how affordable college education used to be. Now keeping in mind of what President Obama proposed, here is what Bernie Sanders proposes; a debt free education system. But where is this money coming from (what you're probably asking)? If you're hedge fund manager or a career military person, you probably won't like the answer; Sanders wants to rob wall-street and cut military spending.
When asking current college students about spending money on their education, the majority of them don't understand debt or else have no problem borrowing for their education. Those that have the highest understanding of student debt are less likely to find that education is a worthwhile investment (Nonis, Hudson, Philhours and Hu, 2015). If this is the case, if we are losing groups of people because they feel a college education isn't worth the burden of debt, we may lose tomorrow's leaders. We may lose integrity in our education system and replace it with the belief that only the economically elite deserve an education. I understand that my argument may seem biased towards the Democratic party, but as far as I can see, these are the only people who are taking shots at a sustainable solution.
References
Nonis, S. A., Hudson, G. I., Philhours, M. J., & Hu, X. (2015). Thinking Patterns: An Exploratory Investigation of Student Perceptions of Costs and Benefits of College Loan Debt.Journal Of Financial Education, 41(2), 24-48
The Rising Cost of College (n.d.). In coursesmart.com
The White House. (2015, January 8). President Obama Announces Free Community College Plan [video file]. Retrieved from: https://www.youtube.com/watch?v=d-QDfEMXAgk
The White House. (2015, January 8). President Obama Announces Free Community College Plan [video file]. Retrieved from: https://www.youtube.com/watch?v=d-QDfEMXAgk
love, Love, LOVE this post! Awesome infographic.....and the video is spot on. I find it fascinating that President Obama is willing to make 2 years at CCs free.... but I still wonder who will pay for it :-) Germany's higher ed is free already, but I am not sure how that is funded either.
ReplyDeleteSo many students go into great debt for an education. Perhaps another approach would be debt-forgiveness.
One of my daughters has her DPT (doctorate in physical therapy) and gradated with a great deal of debt. When she received that phone call all graduates hate to receive, the one where you are being told how much to begin paying back and by when... she explained that she was only making $30,00 because of a lack of referred clients and she could not really afford to pay any more than $10. She was told she did not make enough money to pay them back, so they would give her another year - with interest, of course...
Obviously, we need more scholarship programs, more fundraising to defray student costs, but loan payback assistance is also important.
I am so glad you addressed the cost of higher education! I think we all agree that some form of higher education is necessary to compete in the global economy and I think CC's are the starting place for many students. As a parent of a 16 year, we are starting to look into colleges and programs of study. I think CC's have much to offer in education and should be considered by more high school students. Especially if they are not sure about their major.
ReplyDeleteBLOG RESPONSE: Waiting for... Bernie?
ReplyDeleteBernie Sanders is a democratic candidate running for the presidency in 2016. Many of his policies are considered socialist by critics, opponents and news reporters. One of his main policies, as you mentioned, focuses on education. Sanders wants to provide free education for all undergraduates who attend public universities and colleges (Rooney, Web). However, many people wonder, 'how the US will pay for free college to all?' Sanders states that it "could be paid for by placing a small tax on financial transactions such as stock and bond trades (Rooney, Web)." This type of activity is what has earned Sanders the title of socialist. The idea of taking from one and giving to another is a risky way to become president in the US in the current political climate, however, Sanders and his followers see the benefit. The following video provides commentary (although somewhat brash) on the benefits and funding method from Sanders new bill, The College for All Act: https://www.youtube.com/watch?v=RmkS6daFKBA This video also contains an interview where Sanders discusses the bill with CNN reporter Wolf Blitzer. Current student debt and rising college expenses strain the economy and lock students in loan payments for years, as you pointed out. This policy, however, presents an idea that may turn many voters off but does at least have, supposedly, a way to pay for it. A policy like this needs combing through by economists before final judgment is handed down, but at least proposing an idea to relieve student debt.
References
Rooney, B., & Presidential candidate has introduced legislation to eliminate undergraduate tuition at four-year public universities. (n.d.). Bernie Sanders wants college to be free. Retrieved September 21, 2015.
Bernie Sanders: Free College For All. (2015, May 20). Retrieved September 21, 2015, from https://www.youtube.com/watch?v=RmkS6daFKBA
My concern is that if state schools are free.... then private institutions will die a very fast death.....
DeleteBLOG RESPONSE #1: Waiting for…Bernie?
ReplyDeleteIt is interesting (and pleasing) to see these statistics laid out in your infographic. Your post says it all, everything I researched in what makes a blog post successful, you've included. I love your catchy title, upon reading through your post and taking a look at the daunting increases in higher education, I am intrigued that the “free education” topic isn’t more popular. This article explains how today’s graduates are stuck between a rock: crushing debt to begin their career with and a hard place: a career that won’t pay you enough to live while paying back the loans took out to begin your career. I also read ahead to Dr. Duggan’s reply about private institutions dying a terrible death if public education is free. I disagree with that statement for two reasons. First, the private institutions will eventually be more competitive to work at for faculty members, as they will pool educators with higher salaries and benefits packages. Secondly and as a result, these private institutions will prove to be more exclusive as they will educate those who are willing to pay the price of tuition and some will view a private education as more marketable and desired. I find it hard to believe that the top private institutions (Harvard, Princeton, Stanford, etc.) will suffer through the elimination of public tuition. If anything, the acceptance rate will fall, as the applications to enroll in an exclusive university will ultimately increase.
Gautney, H. (2015, August 15). College Affordability: Comparing the Clinton and Sanders Plans - Bernie Sanders. Retrieved December 6, 2015, from https://berniesanders.com/college-affordability-comparing-the-clinton-and-sanders-plans/
Simmons, M. (2014, October 17). The Benefits of Free Higher Education. Retrieved December 6, 2015, from http://quietmike.org/2014/10/17/benefits-free-higher-education/
Why would students choose to pay tuition to a private institution when they can attend public for free?
ReplyDelete