With them being in debt they don’t contribute to the economy

With them being in debt they don’t contribute to the economy. If students when they graduate are not in debt, they can buy houses, cars and buy items that contribute to the economy. This would also help the lower class move into the upper classes. By graduating college they would get a high paying job which would lead them into being in the higher classes, and no longer being in the lower class. In 2014, “between six percent and sixteen percent of African-American and Latino students attained a college degree, while twenty-seven to thirty-six percent of white students earned a degree”, according to a study by the University of Chicago Consortium on Chicago School Research.
Many people argue that college is unfair, because the government is going to wasting money on people who are not ready for college. Or how some people might cheat the system since the government won’t be able to stop students from taking loans. “The argument is that people appreciate something they must pay for and work for, but not something that is free.”(Deborah Kurfiss) “they will drop out and have a student loan – but no skills. Brilliant because they did not work for that privilege, to go college.”(Vince Norton) college dropouts use student loans will affect the property owners and the owner will suffer dearly “the taxpayer will once again shoulder the burden” (Vince Norton) it will hurt property owners, and the upper class. Yes, it is true the upper class will have to pay an increasing amount of taxes. Because someone has to be paying for this right. Free college will happen by closing corporate tax loopholes, implementing new taxes on speculative Wall Street transaction, other factors are decreasing the military budget. “This argument is backed by the fact that the cost of college tuition is increasing at a rate far surpassing inflation, and the more aid that’s available to students the higher tuition rates go”(Deborah Kurfiss) These are the concerns that people have about making college free. Taxing the upper class, for the people who don’t work for college.
Free education has benefits but also downfalls. The New York Times states that a college degree is an equivalent of what a high school diploma was 50 years ago. What is even more shock is they state that by 2020, more than 35 million job openings in the U.S. will require a degree from a two-year community college or above. They argue that it is incredibly sad that student debt is at $1.4 trillion nationwide and $35,000 in loans. They state that reducing the cost also is a good economic move for the nation. Since it is allowing Americans to go to college. It will benefit the US. The US will have the best-trained workforce in the highly competitive global economy. While on the opposing side, if tuition is free, colleges will have to increase other payments like books and other school materials that students need to buy. They also argue that if college is free, it might hurt the quality of the nation’s public universities. But it’s funny just to say that the upper class would only, be affected everyone will have to pay an increase in taxes not just the upper class. It’s just like the welfare act we were all charged for helping the lower class income support themselves. There’s even alternative solution as well, there is a program called Higher Education Loan Program (HELP) which is used in Australia. No interest is applied to the program’s student loans. it takes just over eight years for an Australian graduate to repay a HELP loan. the system. This would still mean that taxpayers would still have to help fund it, but it would have everyone happy. People saying that Students would not benefit from this and slack off, are wrong. Now that they are not going to be in debt they, will have more time to study and, focus is on themselves. “More students might graduate on time, ready to take on important jobs in their communities.”(Deborah Kurfiss)