The American economic system is built off competition, a capitalist infrastructure that promotes a dog-eat-dog world. The foundations of financial welfare in America is based on education, beginning with a college degree to prove qualifications as a potential contender in the game of life. Ironically, in order to suffice the ability to prosper financially, one must already attain the materials to afford those abilities by way of college tuition. Amongst a cut throat ring swarmed by money hungry competitors, it seems utterly unfair to throw in a lower-class that lacks the means to support a college education. By establishing free college tuition America could reduce unemployment rates, improve prosperity for upcoming generations, and benefit the United State’s economy.
First, in the great nation of America, in order to obtain a healthy job and a steady income, a college degree is often the primary requirement, however how must one achieve this if economically unfit. When looking at the concept of a competitive workfield revolving around college degrees and higher education, consider how this might affect unemployment rates. As education is a substantial factor behind modern unemployment rates, it is safe to say that free college tuition could reflect positive results. Going as far to say that “postsecondary education and continuous learning will be a basic necessity for the millions of Americans whose jobs will increasingly disappear in the global economy” (Duncan and Brigdeland). Many Americans fail to take the initiative to study at college as it rests on the fact that many can not support a college education. A study by Indiana University found that “Higher levels of education increase the chance an unemployed person will emerge with a comparable wage and reduce the time required to find new employment” (Zimmer). Conclusively, possessing a college degree increases job opportunities for the margin of unemployed citizens of this nation. Making college free would contribute to decreasing unemployment rates by providing Americans the opportunity to have access to a college education.
Second, it has been proven that based on the socioeconomic status of a child’s family it is unlikely that the child will precede an education or career that exceeds that of the parent’s. If it is inept that a parent or guardian can not afford to put a child into college, then the outcome will be a continuous cycle of lower education and minimum wage jobs. Through societal observation it is evident that “Low educational achievement leads to lowered economic prospects later in life, perpetuating a lack of social mobility across generations” (García and Weiss). A study found that ninety percent of American’s income has decreased since the 1980s, with the wealthiest one percent experiencing a gain in come (Weiss and García). Too often enough a mother or father lacks a college degree resulting in a below average job. When it comes time for the child to exit from free public school education and enter into college, the parents or guardians cannot manage the adequate amount of money to support the college tuition. What begins as the absence of a simple college education allows a continuous cycle that is difficult to break.
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Lastly, free college tuition would benefit the American economy by decreasing what remains of student loan debts. For students that lack in keeping up with the costs of college, student loans are often an alternative resort. A study by Forber found that “There are 45 million borrowers that owe more than $1.5 trillion in student loan debt” (Friedman). By making college free, the economy would be able to flourish as students exiting out of college and entering into the workfield are capable to buy without any financial restraints. Spending after the pursuit of college is the time where fresh working class citizens look to invest in home loans and cars, actions of which progress the steady flow of the economy. To further support the claim of a strong American economy is the idea that free college would allow greater numbers of Americans to find jobs, therefore establishing a source of income. If more individuals are able to find work that supports financial interests, then spending is not limited and consumer buying increases.
Finally, the economic stress that college carries with it leads to lasting effects that can contribute to a never ending cycle. Being a highschool student that observes various social classes, it is flagrant of how financial stability affects a students education. If the education system continues to belittle the lower classes by failing to provide sufficient learning skills or simply prohibiting the students from achieving the same level of criteria as others, then how might the world progress in growth. The downsides of providing a free college education are outweighed by the advantageous outcomes that could follow the millions of students that would benefit from a debt free life. Unemployment rates could drop which could result in America seeing a decline in poverty. Children can break free from a lineage cycle that obstructs the ability to become anything greater than elders or parental figures. The world could stimulate economic growth by increasing the numbers of consumer spending, as income is being gained, providing the economy with a steady flow of commerce.
In all, if America is unsuccessful in its efforts to create a nation that allows everyone the opportunity to seek a college education, will this great nation every see a change in the process that has taken place for decades. As time continues, the issues of unemployment, socioeconomic inequality, and economic recession will progressively worsen. Considering that the most financially successful generations stem from the mid-1900s, a time in which college was free or nowhere near the cost that it is today, consider what modern day society would be if the expensive college tuitions were abandoned. Ignoring the fact that a free education would eliminate these issues will keep America in a never ending cycle that will pursue as prices of college continue to inflate. Ultimately, looking respectively at the changes that could benefit millions of students striving for work-ready education yet lacking the financial means to support the college tuition costs, it is hard to see how the advantages could possibly be overpowered by potential disadvantages.