The Myth of Free College

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

There’s no such thing as a free lunch, or free college. But that reality hasn’t stopped Democratic presidential hopeful Sen. Elizabeth Warren of Massachusetts from touting her trillion-dollar-plus plan.

Step one of her plan would cancel most or all of the student loan debt carried by nearly 45 million Americans, up to $50,000 per person as long as their household incomes don’t exceed $250,000. This step alone would result in a one-time cost of $640 billion.

Step two is ensuring students don’t accumulate loan debt ever again by making college “free” like K-12 public schools. Officially dubbed the Universal Free College program, the estimated cost of this part of her plan is a jaw-dropping $1.25 trillion over the next 10 years. But never fear: Warren will pay for it by imposing an Ultra-Millionaire Tax on the rich.

There are several flaws in Warren’s free college scheme, starting with the fiction that her proposed tax on “ultra-millionaires” will actually raise enough money to pay for it.

For example, most European countries have ditched their wealth taxes in large part because they generated so little revenue. So, when the free-college coffers come up short, average taxpayers will be stuck making up the balance—a very real possibility, especially since Warren also has vowed to bankroll her $70 billion-a-year “free” Universal Child Care and Early Learning plan with the same Ultra-Millionaire Tax.

One of the worst elements of Warren’s plan is that college degrees will become about as meaningless as many of today’s high school diplomas.
Americans already spend an average of more than $13,000 per pupil, per year, for every public elementary and secondary school student—almost as much as they spend for each student at public two-year colleges. That kind of money should buy a top-notch education. Yet nearly 75 percent of high school graduates are not deemed college-ready in English, reading, math and science.

If history teaches us anything it’s that we can’t subsidize our way to college affordability. The federal government’s reach into higher education has grown steadily over the past 60 years—and with it college inflation rates, which are about twice as high as general inflation rates. As a result, average tuition and required fees at public two- and four-year institutions have increased by more than 300% since 1963.

Contrary to what Senator Warren claims, the cause of these skyrocketing increases is too much government funding, not too little. 

 

By Vicki E. Alger

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Never miss any important news. Subscribe to our newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *

McIntyre Report

Top 10 Crypto

in USD

in AUD

in GBP

in CAD

Current Price of Bitcoin 2.0

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Enter email to receive ANR News articles ,2 free ebooks, plus the Global Health Organisation Report

Editor's Pick

Enter email to receive ANR News articles, 2 free e-books, plus the Global Health Organisation Report

Donate Now to Help Take Back Our World

$1000 Donation Turns Into $4000 of the New Global Currency

OWC (Our World Coin) Sponsorship Offer

If you donate to the Resistance you will receive major incentives.

Such as the following in Our World Coin which lists early 2022.

Plus if you donate over $2500 you will also receive 20% in Bitcoin 2.0