By Jacob Maslow–Branded Content
At one time or another, everyone thinks about going to college. While the choice of education is entirely up to you, there is one thing that will always be a deciding factor, which is the cost. Despite there being many ways to pay for college, it can strain on your finances. Paying out of pocket can leave a huge dent in your bank account while loans can affect your overall credit score if not paid on time. This leads to a question many people have asked: should college be free? Here are the pros and cons of getting a college education for free.
Pro: It Allows Everyone to Get an Education
In a perfect world, everyone is able to pay for the education they deserve. Unfortunately, that’s not always the case. There are a lot of people who are unable to go to college because they can’t afford it. What’s worse is that they might not be approved for a loan either. Since a college education is necessary for most jobs these days, you would think everyone would be provided with tuition-free schooling. That way, people would be able to live well while boosting the economy.
Pro: Student Debt Would Be Completely Eliminated
One of the most common forms of debt is undoubtedly student loan debt. Regardless of the level of degree a student earns, they usually walk away with some amount of student debt. In fact, taking out a student loan from a private lender is how most people afford the high cost of college. Student debt can put a lot of strain on you both mentally and financially, so making college free would alleviate a lot of this unnecessary stress. Being able to attend for free would probably increase the attendance rate as well.
Con: Many People Wouldn’t Understand How to Properly Finance
Let’s be honest, going to college for free does sound like a dream come true. However, it may not be as great an idea as you think. College is a place where you go to learn and sharpen your basic life skills. One of these includes managing your finances properly. Although the debt can be a hindrance, it also teaches us how critical budgeting and saving is. Without this crucial skill, it wouldn’t be a surprise to see people spend their money and then struggle to make monthly house or car payments.
Con: The Value of College Would Decrease
It’s kind of shocking to know how many people underestimate the value of college. Going to a university for free might decrease the overall value of a college degree, including a Ph.D. It’s the idea of getting a good job that ultimately motivates us to keep working hard and mastering the skills of our chosen program. Honestly, what people truly want is to have the cost of college reduced, not entirely free. If people were allowed to college any time they wanted with no risk or reason, they might not see the benefit of earning their degree.
Photo Courtesy of Jacob Maslow // Cosmic Press