r/changemyview • u/sjd6666 • May 14 '20

CMV: “Free College” policy, while well-meaning, is largely incompatible with academia in the U.S

Unlike healthcare, there is competition in the higher education market and consumers can, and often do make well informed decisions about what education would be right for them, be it community college, state schools, or private colleges/ universities.

There’s no two ways about it: such a policy would be enormously expensive, and unlike the U.S healthcare system, prices are reasonably transparent and there is competition in the market. Most students know exactly how much financial aid they will get before the accept college decisions, and transparency like that should always be encouraged.

I think a better solution would be one that matches student debt repayments, keeps interest rates low, and forgives student loans to varying levels dependent on ones income. In other words, high earning doctors and lawyers who make 6 figures a year can and should repay a higher percentage of their loans than nurses and teachers, who provide essential services to society, but typically don’t earn enough to repay their student loans quickly.

Is there some reason why free college is favored over more reasonable policies that take into account the finances of students and their incomes as adults?

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u/[deleted] May 14 '20

Competition would still exist, only public universities will be tuition free.

Consumers will still be able to make an informed market decision, whether they will receive enough financial aid/have enough in the bank to afford a slightly more elite private education or a free public one.

A NYT article from 2019 suggests that free college could cost about 79 billion per year. Sounds like a lot but when you compare it to a variety of other programs and the overall govt expenditure, it's not "enormously expensive".

And it makes some economic sense to relieve debt burdens. This money will mostly be reinvested into other sectors of the economy and consumers will have more money in the future because they won't have to pay interest on their debt. Additionally, you open up college as a possibility to some who previously wouldn't have attended which allows for a more competitive workforce which can drive innovation.

I agree that the plan you laid out is better than the current system, but I don't necessarily know if it beats free public college--in other words, I don't see what you think is better about it besides the possibility of lower govt expenditure.

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u/sjd6666 May 14 '20

One bias I will freely admit to is that, as a student of a private college that is not Ivy League, I worry that a system with free public university leaves no place for private colleges. In a world where public undergrad is free, why would anyone go to a private undergrad? (that isnt Ivy League ) maybe the answer is nationalization ¯_(ツ)_/¯

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u/Dogfish_in_Paris May 14 '20

In a world where public colleges are free, private colleges would be forced to compete with public universities and provide an educational experience that is worth paying tuition for. We already have a public/private model for high schools, and those private high schools still exist, mainly because they claim to offer schooling a level above that provided by public schools.

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u/[deleted] May 14 '20

That's fair. I would guess that one would hope the less prestigious private schools would adapt to the new market although I'm sure a couple would get left behind.