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SourceMianyangNewsNetwork    Updated2020-11-25 13:50:05

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  LyrArc Article Gist

  The supporters of free university education bring up some practical and important points. Not providing free university education at a time of rising inequality after a severe  financial crisis that worsened inequality and led to a lost decade for middle class families in the U.S. leads to a situation in university attendance is restricted to people from wealthier backgrounds. Studies in Britain show this says the Economist magazine.

  A report by the Institute for Fiscal Studies, a think tank, showed an increase in tution fees paid out of pocket of 1000 pounds (43) is associated with adecline of 3 to 9 percentage points in university attendance. Work by Thomas  Kane at Harvard University confirms this. Other studies in the U.S. show attendance and completion rates higher for university education with education being more affordable. Results of studies also show that the tangle of application processes and eligibility rules can reduce the benefits of tackling this by the current approach of financial aid.

  For this reason  free tution which is easy to adminster and easy to understand  for all is the real option for today's situation. Wealthy students can pay for it later in life with the progressive taxation. Warren proposes higher taxes on multimillionaires, and Sanders would tax financial transactions such as on stock and capital markets, as ways to address this and bring back free university.

  As the Economist magazine for the first time puts this in its Free Exchange column the real support for free university comes not from economic efficiency, or even the way it benefits all in a free, open and equal opportunities society, but from the values that society believes in. There are broad social benefits to a well educated citizenry. The nation is stronger economically, more open to new ideas and more open to technological change to be able to grow when it has promoted to the fullest extent the education of all its citizens. This is especially true in today's world where more than 12 years of education are needed to build a strong base for a country to grow its economy and industry.



  A warning is presented by the Economist magazine that as the rich pull away from the rest of society they can actually undercut the very values based solutions that are needed today. Their increased political power can restrict the tax increases needed to fund the higher education the nation deserves, that the people deserve.

  Social safety nets are also reinforced and societal  harmony is strengthened when everyone cooperates to help everyone.

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