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Its interesting to me that they didnt mention the fact that the Gov't is essentially upgrading an asset. It seems to me that people w/ degrees on average earn m

Its interesting to me that they didnt mention the fact that the Gov't is essentially upgrading an asset. It seems to me that people w/ degrees on average earn more. If they on average earn more, their taxes ought to be higher as well. So the student is borrowing money at interest, to upgrade themselves and in turn will also pay the government more money in the long run. Seems like a great deal for the Gov't.

altoz 13y ago
First, about half of people that go to college don't graduate in 6 years. That means the asset isn't upgraded but the costs and loans still live on. http://www.slate.com/blogs/the_slatest/2013/02/27/college_completion_rates_54_percent_of_first_time_students_graduate_within.html http://www.slate.com/blogs/the_slatest/2013/02/27/college_co... Second, the very idea that college "upgrades" the asset is specious at best. http://www.amazon.com/Academically-Adrift-Limited-Learning-Campuses/dp/0226028550 http://www.amazon.com/Academically-Adrift-Limited-Learning-C... Third, people with degrees do earn more, but remember that they actually take four years or more off. That's 4 years of taxes and raises that the government doesn't get. Given wages in a lot of non-degree jobs that don't require degrees (public employee unions and public safety work come to mind), this is not an insignificant amount.