On Jan. 9th at Pellissippi State Community College in Knoxville, TN, Pres. Obama issued a landmark proposal for the government to pay the tuition for two-year community college programs nationwide, making them free. It is a stunning step that could raise the quality of life for millions of Americans.
The obtainment of a secondary-education is the path to the middle class for both newly graduated high school students and older adults looking to advance themselves who could not otherwise afford it.
According to a piece in the NYT by Justin Wolfers, in “The Upshot”, the macro economic benefits would also be great for it would increase both output and raise living standards across the middle and lower classes. He continues that:
Mr. Obama’s proposal is an effort to revive education as one of the drivers of economic growth. If he succeeds in persuading more of the next generation to continue beyond high school, and to invest in community college and possibly beyond, there’s a strong chance the rate of economic growth will be bolstered for decades to come. And relative to other ways of strengthening growth, investment in community college is most likely to ensure that the middle class shares in the benefits of it.
Now students must attend community college at least half-time, maintain a 2.5 GPA, and make steady progress toward completing their program to be eligible. So there are strings attached that I am sure the critics will love to claim are not there.
And for those fiscal hawks out there, the government would pay for 75% of the costs (by investing $60 billion over the next 10 years) while the participating state would cover the remaining 25%. But keep in mind that the annual Federal budget is $3.5 trillion , making $60 million a drop in the bucket.
And one other thing. Make sure that we keep in mind that furthering one’s education does not solely benefit us economically. It also makes us more informed, better suited citizens ready to lead our nation through voting choices or even by holding higher-office.
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