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Friday, May 27, 2011
Value of a college education
In Canada, it’s not even a question. The value of higher education is enormous, if for no other reason that 90% of the tuition is subsidized by the province (in Quebec anyway).
In the US, you have to study the tradeoffs to figure out the breakeven point.
Perhaps it makes more sense that you have the US system, so the free market can determine the fair market value. But, gosh, it sure is appealing to the society as a whole when education is an almost guaranteed right, rather than a commodity. Sometimes, the free market determining the fair market price should be set aside, and entitlements like education, health care, and children/senior rights seems like a good place to have it.
Of course, you can abuse such a system, such as some European countries that give 100% subsidy, thereby turning getting an education into a career for some who want to game that system. The key is to force in a certain level of contribution to drastically limit abuse.
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