Pinocchio and the Promise of Free College
A pithy professor once said, Science Fiction is just Science Future. Now, it appears some Higher Education Fairy Tales are trying to come to life, too. It reminds me of the classic movie, Pinocchio, about a wooden puppet trying to become a real boy.
The recent political balloons supporting free community college & free university educations for families making less than $125k sound good. But, as the saying goes, the devil is in the details. If you want to see those details, look more closely at a variety of European countries with those “free college & university programs.” Don’t just read the headlines. Dive into their processes and systems. Here’s what you’ll find.
A. You won’t choose your school- your path will be determined through testing. In the often-cited countries of Norway or Switzerland, you hear glowing reports about their national Higher Education systems. Norway & Sweden boasts roughly 10.5 million citizens each. That is less than the population of the state of North Carolina. We have 17 universities and another 36 accredited private colleges in NC. And yet, those private colleges confer 1/3 of all undergraduate degrees in the Old North State. But “free college” rarely includes private institutions. Surviving Universities would be instructed to re-tool their offerings according to a master education plan. The key difference is the amount of testing and educational direction programmed before a student even enters high school. Here’s an interesting tidbit; both countries have significantly lower University-educated populations than the U.S. That means fewer students earning traditional college/university degrees. You don’t choose your educational future there; you are tested and your path is chosen for you.
B. Changing careers is rare in the European system of “free” college and university. Since your vocational tests identify your strengths, your education is directed towards a career that uses them. It is uncommon to switch from being a teacher to a banker, or an entrepreneur. In the USA, your college or university degree doesn’t define your career path for the next decades of your life. That is not so in other countries and cultures.
C. It is simple math that personal income taxes must rise to develop a “free” Higher Education system. Taxes pay for the government. The government wants to pay for college. Taxes will have to go up to pay for “free” college for one and all. It’s just math. The change is more than the money, though. Other things happen when college is “free.” In general, students who have no perceived “skin in the game” don’t take it very seriously. A company that works directly with colleges and universities, Norton/Harris, wrote an article 3 years ago about the seven reasons why “free” college would not be the right answer. Here they are:
Completion rates will decrease.
Property taxes will increase.
Persistence among college students will decrease.
Private colleges will suffer enrollment declines and financial hardships.
Free college does not address occupational shortages.
Free college will not help solve “crippling student loan debt”.
Student loan defaults will increase.
Today, just 40% of incoming freshmen complete their degree in 4 years. The national average student debt is over $31,000 and climbing. What do you do with the millions who borrowed and paid their student loans back? They would like a refund, please, with interest. They are joined by the fortunate who were able to pay as they attended. They too want and expect the same refund, thank you.
No doubt, the core issue remains The Money. Parents and students don’t have the money. Let’s change our thinking. Instead of chaining ourselves to debt, let’s make a financially sound plan for getting the degree without ruining everyone’s financial future
How about we, the consumers, take back the responsibility of figuring out the finances? If you want or need bold, money-saving, and student-directing ideas, check out, ENOUGH, The College Cost Crisis. That book is an investment that will pay you back over a thousandfold. It pulls back the curtain on the debt, the scholarships, and offers a little-known secret sauce that saves you tens of thousands of dollars.
We must help our students balance the costs with the results. Teach them to do it differently. Show them you will help;
Get them through the RIGHT school
At the BEST possible price
In the LEAST amount of time
That results in a DEGREE or CERTIFICATION they can use.
And do it with the least amount of debt you can.
Next week, a preview of some changes to FAFSA and student loan qualifications. If you have a student getting ready to go or just starting, don’t miss these updates.
Until Next Time,
All My Best,
Bonnie Burkett
