Dana Lindsay: It’s time to invest in American education

The best investment America can make right now is in education. This month, the process starts for up to 43 million people to apply for student loan forgiveness. The Biden administration is keeping its campaign promise to forgive student debt up to $10,000 for those making less than $125,000 a year. I applaud President Biden for taking this step. However, now is the time to turn the conversation toward a more long-term solution to our skyrocketing cost of higher education. Investing in free college for all is essential to moving America forward.

As discussed on the briefing room fact sheet on whitehouse.gov the cost of both public and private four-year colleges has tripled since 1980. In that time federal support has only marginally increased. Pell Grants that once covered about 80 percent of the cost of a four-year degree now only account for about 33 percent of the cost. The impact of this rise in the cost of education has been felt most significantly for students from working families. On average, a student now leaves college with $25,000 in debt. Lower income students are becoming deterred from pursuing degrees or are unable to complete them due to the financial burden.

The current system of rising costs and insufficient grants is no longer working. Student loan forgiveness is a temporary fix. We need to make four-year colleges free for all. Specifically, we need debt-free programs that take into account all costs students have while in school. Costs such as room and board, books, and transportation. This type of free college model is the most expensive to fund initially, yet, it is the most effective at making a college education accessible to all students.

What makes free college a good investment? Well, in comparison to other forms of social welfare assistance, education is an investment that will yield results. In the article “Should College be free? The pros and cons,” Dillworth states “research shows that free tuition programs encourage more students to attend college and increase graduation rates, which creates a better-educated workforce and higher-earning consumers who can help boost the economy.” Essentially, an increase of people working higher paying jobs creates a direct increase in taxable income. That tax money can, in turn, help fund these programs and others. Without debt, college-educated earners will have more disposable income to spend in their local economies, to become home-owners, and are less likely to be reliant on other forms of government assistance.

Imed Bouchrika agrees that there are benefits to free college programs. In an article “Should college be free? The economic Impact of Free College,” Bouchrika highlights some of the benefits of an educated society. He describes that free college programs decrease inequality and reduce social problems. “Studies reveal that those without college degrees are disproportionately afflicted with falling marriage rates, increases in single parenthood, rising mortality, and opioid addiction.” Bouchrika also describes how education enhances critical thinking and deeper learning skills. This leads to increases in civic participation and decreases in crime rates. The true cost benefit of the ripple effect of access to higher education may be exponentially more significant than economists predict.

Student loan forgiveness is great if you’ve already received your education but what about students currently enrolled or young people just starting to make plans for their futures. It’s time to turn the conversation back to the benefits of free college education. This investment in education has the potential to transform America if we give it a chance.

Dana Lindsay is a resident of Summit County and currently enrolled as a graduate student at the University of Utah. She chose to pursue a degree in Social Work to be a resource to others and advocate for change.