Why Free College Should Not Be Free?
imagine an America where Colleges are free and there are no student loans needed. That is what people call a Utopia because it will never exist unless we sacrifice something else. The average person is all for free college because student loans are the biggest debt they gain as a young adult. However, they tend to skip over the many negatives that come with free College. Colleges should not be free because the government will use taxes to pay for the college, college is a crucial period where people learn how to handle their finances, and the economy would most likely collapse if colleges were free. Most people know how to handle their finances. Often times, they learn how to handle their finances with first hand experience. In college most
…show more content…
For example, people say that “The economy would grow because people are not ‘crushed’ by their student loan debts.” However, this argument does not take into account how will the college’s fund themselves. However according to Gary A. Olson, “The independent, not-for-profit colleges in New York have an estimated annual economic impact of $79.6 billion. Even small private colleges contribute substantially to the economy.” Therefore, if colleges were free the economy would crash because the smaller colleges would no longer able to support themselves. Also, according to Gary A. Olson, “ If multiple colleges collapse as a result, the economy would suffer a huge blow as thousands, of faculty and staff would suddenly be out of work, and tax revenue would shrink.” Tons of people have jobs in those smaller colleges, so if they shut down because they do not have enough money to pay the staff, then the people working there would lose their jobs. All of these effects could lead to something similar to the Great depression where people lose their jobs, companies are shut down from over taxation, tax revenues are decreased so even the larger colleges struggle to stay in the game because the government can’t support them anymore. All of these sequences would cause an economic crash, loss of many jobs, and a time of difficulty for the average person. In the end, the government will use taxes to pay for free college, some people will not be able to handle their finances, and the economy would most likely collapse if colleges were free. In order to ensure that there is a college that we can go to in the future we must make sure that free college does never exist. If it does exist, then our economy would most likely take a huge blow and colleges will be in a worse state then they already
For example, people say that “The economy would grow because people are not ‘crushed’ by their student loan debts.” However, this argument does not take into account how will the college’s fund themselves. However according to Gary A. Olson, “The independent, not-for-profit colleges in New York have an estimated annual economic impact of $79.6 billion. Even small private colleges contribute substantially to the economy.” Therefore, if colleges were free the economy would crash because the smaller colleges would no longer able to support themselves. Also, according to Gary A. Olson, “ If multiple colleges collapse as a result, the economy would suffer a huge blow as thousands, of faculty and staff would suddenly be out of work, and tax revenue would shrink.” Tons of people have jobs in those smaller colleges, so if they shut down because they do not have enough money to pay the staff, then the people working there would lose their jobs. All of these effects could lead to something similar to the Great depression where people lose their jobs, companies are shut down from over taxation, tax revenues are decreased so even the larger colleges struggle to stay in the game because the government can’t support them anymore. All of these sequences would cause an economic crash, loss of many jobs, and a time of difficulty for the average person. In the end, the government will use taxes to pay for free college, some people will not be able to handle their finances, and the economy would most likely collapse if colleges were free. In order to ensure that there is a college that we can go to in the future we must make sure that free college does never exist. If it does exist, then our economy would most likely take a huge blow and colleges will be in a worse state then they already