In his book The Price of Civilization, Jeffrey Sachs argues that the cost of making all public higher education free in America would be between fifteen and thirty billion dollars. While this may sound like a large sum, it could actually save money. First of all, the government is currently spending billions of dollars on for-profit schools and other colleges and universities that have very low graduation rates… Currently, only 30% of Americans who start college or university end up graduating, and this represents a huge waste of time and money. If students did not have to work while in school, the graduation rate would improve drastically, and students at universities could graduate in four years instead of six or more years. In fact, the biggest reason why students drop out of higher education is that they cannot afford the high cost of tuition. Not only is higher education seen as a key to economic advancement, but if all 18-24 year olds were in college, we would reduce the unemployment rate by 2 million people, and fewer people would be in need of governmental assistance… While the US has a free K-12 public education, its failure to fund higher education means that America’s economy is unable to compete with other developed nations that have free universities. Furthermore, by removing the need for students to go into debt, the government would allow graduates to be more productive, and they would have more money to spend, which in turn would act as a stimulus for the economy.

Read full article [here].
by Bob Samuels, The Huffington Post.

Posted: November 18th, 2011, by: admin. Categories: . Awaiting Comments.