Thursday, September 22, 2016

Subsidizing college

According to Forbes.com, Higher education prices have risen far faster than other prices in the economy: across all institutions, undergraduate tuition, fees, and living expenses more than doubled in inflation-adjusted dollars. At private nonprofit four year schools, tuition and fees have nearly tripled compared to 40 years ago, while at four year public schools costs have almost quadrupled over the same time frame. Public two-year schools, which experienced a huge drop-off in state funding in the wake of the recession (and where most of the higher education in this country takes place), have seen tuition and fees grow nearly 50% in the last decade. Bloomberg estimates that the price of college has increased twice as much as that of medical care since 1978. In short, college has become more expensive – and the price continues to increase(Richard Vetter, Forbes.com, 2016).

On the other hand, according to michigancapitolconfidential, there is no link between higher education subsidies and economic growth, and none between college degrees and job creation. Since 1980, Michigan has spent a much higher proportion of personal income on state government support for higher education than nearby states like Illinois and Ohio. According to Ohio University economist Richard Vedder, by the year 2000, the Mitten State was spending the sixth most in the country (2.34 percent of its personal income), double what Illinois was spending and much more than Ohio. This did not lead to higher growth as Michigan’s economy performed among the worst in the country during that time period(Jarrett Scorup,michigancapitolconfidential.com, 2016). 

In my opinion college tuition should be subsidized. I say this because looking at the facts, since 40 years ago, tuition and fees have tripled at most colleges. And the price continues to rise. The college tuition price has gone up faster than any other price in today's economy so students shouldn't be expected to have to pay the full tuition when they don't have a job that can pay for that. A job that can pay for that is what they are going to college for.



3 comments:

  1. I disagree with your view on college tuitions. I feel that with our current economic state and our debt counter in the trillions, we could use the money on far better things than to have a decent sum of paid tuitions be wasted on kids who just party through college and don't learn a thing.

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  2. I do not agree with this subsidize college schools because that more money everyone will have to pay. You should have to pay for what you want to do because there are many ways you can get this lowered. Also this can cause colleges to rise there price more.

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  3. I disagree with your point of view on college tuition. Our government is in a huge hole of debt and I don't see us getting out anytime soon. Paying for college tuitions will only dig the hole much deeper.

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