In the attached video I visit Southwestern College in Chula Vista, CA. As I walk around the campus I cannot deny my opinion that education should be free. Nowadays a degree is not an achievement or proof of learning and mastery of a particular subject. It is a product to be purchased. It is a badge of privilege that is only for those with the access to money.
Clearly, the industry that benefits most from formal education is a business. Therefore, I believe that wealthy industrialists should carry the load of education through taxation. Banks really should not be able to earn a profit because the nation benefits overall from the result of having more educated people in the workforce. The monetization of education makes it unavailable to a large group of people due to education’s prioritization of profits.
Currently, it is not fair that graduates pay more in taxes than those who do not attend college because they earn more. However, some of those same graduates are also in more debt. As many carry the responsibility of their student loans. A large portion of this student loan money repaid is recovered to banks as profits which just sits in a vault. If graduates were free from education debt they would have more disposable cash to contribute to the economy.
As it stands now, the government budgets for unpaid student debt and that money could instead be used more positively to find a free-education system. With the profits removed from education the costs to educate the public would be decreased. Europe has already moved towards free education. Norway and Finland extend free education to international students that are outside of the EU and Germany has abolished fees in all states.
If we don’t adopt a new free education model soon. No one will be attending college except those who can afford to pay cash. This will lead to many colleges having to close their doors due to low attendance. Already across the nation college attendance and graduation rates are decreasing.