Home News Free college is the wrong answer – Politico

Free college is the wrong answer – Politico

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Let’s start by asking the right question.

College enrollment is at an all-time high, but young Americans’ faith in their financial prospects is at a record low. A recent study found that because of the increase in college debt, young adults with student loans have a negative median net worth for the first time in nearly 30 years.

Acknowledging these trends at Tuesday’s debate, Senators Bernie Sanders and Elizabeth Warren reiterated their promise to make public colleges free: In their minds, a college diploma is both a prerequisite for success in the 21st century and financially unattainable for many Americans.

But their proposals miss the point and might make matters worse. They would allocate vast sums of money without nuance or precision, and at the same time crowd out other workforce initiatives that bolster economic opportunity.

Warren hopes to spend $1.25 trillion over 10 years to make two- and four-year public colleges free; she would also help students pay for housing, food and books. Sanders would eliminate undergraduate tuition at four-year public institutions by matching each $1 increase in state education spending with $2 from the federal government.

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