Assignment:
Why we as a society need to subsidize education in general?
Everyone knows the importance of the education. Is government being solely responsible for financing the educational facility in the country? Or is the society needs to contribute equally with the government?
In most of the countries, education is subsidized by the taxes, grants, and donations because people think it will benefit the society in general. But we forgot this approach in higher education.
A college education is expensive and most of the governments are not providing funds to the students. We are not able to understand this concept that the universal education is a right and higher education is the priority. It is important to know the importance of higher education for the sake of the country’s current and future well-being.
Who should pay for higher education?
The question is who should pay for the college or university expenses. The students, the government, and everyone who will receive benefit from it. According to a latest Census data students who went to high school earn $ 50,000 per year. A college student earns almost $ 94,000 per year. These stats clearly show the advantage of the higher education.
According to some basic economic principals, the education is not only good for the person who gets it but also for everyone who is directly or indirectly associated with it. An educated person is not a liability for a nation but an asset. An educated person not only changes his life but also contributes to the economic prosperity.
In Economics,benefits of education are called “Positive externalities”. There are lots of good things that are created with the help of education, and all these good things are enjoyed by others. So that’s why it is important not only for the government but also for the society to contribute to the education, especially at the higher level.
What are the issues surrounding college affordability and value to the students at all levels of education;
A college education is a right, not a luxury. Despite lots of new reforms and programs introduced by the government college fees are still not in the approach for many the people.
Here are some of the issues students are facing these days;
Cost:
The cost is the main factor in college fees. Almost fifty years ago President Lyndon B. Johson signed a landmark piece of legislation and said that this legislation will open new doors for the people of the America.
The purpose of this program was that the students can apply in 5o states of the America and their application will not be turned down because they are poor. But the reality is opposite; college education is still not affordable for poor people.
The economy:
The economic scenario is changing every day. The inflation and the unemployment are rising every year. Both these factors are not allowing the governments to introduce new reforms at the college level. The investment in the college degree is increasing every year, making it difficult for poor families to approach the expensive colleges.
Quality Education:
In some part of the world, government owned institutions are not able to provide quality education. This deficiency is giving space to private institutions that are providing quality education but with high fees. The Government is not able to hire quality staff and equipment which are need of the day.
Here are some proposals to improve higher education standards:
Govt Grants/Loans:
Other than the society the government has to play an active role to facilitate the poor students. The government needs to introduce Youth Loans on easy terms and conditions. These loans and grants will help the poor students especially. The government grants are more necessary in the underdeveloped parts of the country.
The technologies that decrease the cost of educating students:
The cost of education can be reduced with the help of the technology, here are some facilities:
Digital Textbooks:
A college student spends almost $ 1300 on textbooks each year. This cost can be reduced with the help of digital books. The schools should allow the students to use digital books if they are not able to pay for the textbooks
Virtual Learning:
This method is also getting popular these days. Many colleges are offering online courses. This is quite cost efficient method where the cost of building and other indirect expenses can be saved.
Cloud technology:
Cloud technology helps to reduce the IT and hardware cost.
Spending more per student in K12 education:
The government allocation of educational funds depends on the size of the state. All the states are not created equally. A decrease in the public funding like budget cuts can affect the students and the pay of the faculty.
According to the National Center for Educational Statistics, each state spent $ 10,763 per student in 2012-2013 which showed 3.5% decrease as compared to 2010-2011. The government needs to allocate more funds to each state to facilitate students at school level.
References:
1-An Educated Population Is Essential to a Nation’s Prosperity, yet Some Politicians Are Demonizing Our Educational System for Political Advantage (29 March 2012) retrieved from
https://verdict.justia.com/2012/03/29/an-educated-population-is-essential-to-a-nations-prosperity-yet-some-politicians-are-demonizing-our-educational-system-for-political-advantage
2-3 Ways to Reduce the Cost of College with Technology (04 June 2012) Retrieved from
https://www.edtechmagazine.com/higher/article/2012/06/3-ways-reduce-cost-college-technology
Attachment:- lecture11pt2.zip