Thank you for your attention and interest on our Free College Discourse.
The Best of the Pro Free College:
“…low-income students are discouraged by the complexity of the process of applying for financial aid and college admissions, even if they are qualified and enthusiastic about going to college. We find somewhat more support for this hypothesis. More than 65 percent of the Boston public school students in the study reported at the start of their senior year in high school that they planned to attend a fouryear college immediately after high school graduation, but less than 25 percent of them actually did so.
A $1,000 difference in tuition is associated with a 6 percentage point difference in college-going. Indeed, these estimates are quite consistent with the older literature summarized by Leslie and Brinkman.”
Christopher Avery and Thomas J. Kane
The Best of the Against Free College:
“Other research shows that completion rates fall the less students pay towards the cost, hinting that free tuition might raise already scandalously high dropout rates.
Rather than greater college attendance enhancing economic growth, my bet is it would be retarded. I have run literally hundreds of regression equations on the relationship between state higher education spending and economic growth: the relationship is almost always negative –higher spending, lower growth. Raising taxes on private sector earnings to fund colleges lowers growth because the output reduction associated with higher taxes on the highly efficient and market-directed competitive private sector is far greater than any positive effects of more education administered by less efficient and market disciplined higher education providers.”
Richard Vedder, Economic Historian
Sunday begins the Discourse on Private Equity. Send me a note if there are any aspects you want me to address. Have a wonderful weekend!