Hack:
Higher Education should be made free

By Rajesh Gandhi - Marketing, Strategy & Partner Manager at Hasibat Information Technologies Co. Kuwait

December 21, 2010 at 9:59pm

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Summary

Higher education is fundamental right for a decent livelihood. It is a proper level of higher education that grooms a person to groom his fundamental capabilities.

The governments worldover should think of subsidising higher education in the form a loan (in the case of a private institution, the govt can stand as a guarantor), which is to be paid on a monthly basis, once the person starts earning.

This way no deserving candidate will be inhibited by lack of funds to pursue higher education.

The national travel document should be endorsed with such loans, as a measure of control, so that the funds invested are returned back for the benefit of the education of the others.

This the person gets educated feels indebted, for his better living’ and will be automatically encouraged to contribute towards the future education of others.

What do you folks say? Has no economist ever thought of this?

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March 22, 2011 at 10:09pm

Aaron Anderson

I agree. Higher Education should be made available at free or low cost to all, but there are those who would suggest that such talk is socialistic at best, and borderline communist at worst. There is a way to build out an alternative mechanism for funding higher education operations so that they indeed reduce or eliminate costs to the students, but don't shift the burden to taxpayers (as in, who foots the bill should students default on the loans you suggest they get). Moreover, loans are not really a true form of free education, and don't encourage any economic innovation on the part of the institutions to begin with. That is, if I can ratchet up my tuition, and student just get the loans to cover the cost whatever they are, is it really a free education? I'm not an economist, but there may be a way. I suggest one dream for business education that might work over at my location.