Is Free Education Really Free?

Abstract

The cost of college is remarkable. Shelling out thousands of dollars for some knowledge and a receipt claiming you paid is, in a few words, the modern American college system. Perhaps unsurprisingly, policies have been proposed to reduce the cost of college, even making it free in some instances. On Jan. 9, 2015 President Obama unveiled a plan to make “two years of community college free for responsible students across America.” Given the Republican control of Congress, the idea stands little chance of being passed, but it is still interesting to consider. Under the President’s plan, all Americans, regardless of income, would have access to two years of free community college education provided the student maintains a 2.5 GPA and part-time status. Though the benefits would be numerous, so would the costs.