Why College Should Be Free Essay
Why College Should Be Free Essay
Academic level: Master’s
Essay type: Memoir
Size: 2 pages ~ (730 words)
Access to higher education is the driving force behind a country’s growth. According to Singh et al., average years of schooling have a strong impact on GDP per capita (2005). That means that the more educated people there are in a country, the richer the country and its population are. In the US, the rising costs of education coupled with mounting student debt drive more and more people away from higher education institutions. College education should be free because it promotes social mobility by reducing financial barriers, fosters economic growth and encourages social equity.
The strength of a country’s economy is directly influenced by its population. Countries with higher numbers of college graduates consistently show low unemployment rates and steady GDP growth (Singh et al., 2005). A study by Barro and Lee found that each additional year of education contributes to approximately 1% growth of average annual GDP (2013). For the country’s population, that means higher incomes, more job opportunities, and, generally, higher levels of life satisfaction. On the other hand, the undereducated workforce is less adaptable, and hence, sees higher unemployment rates. Countries that invest in higher education report having a more skilled and versatile labor force. That leads to higher income per capita and higher tax revenues (Palmisano, Biagi, and Peragine, 2022). Improved access to college education would ensure inclusive and sustainable long-term economic growth, which would benefit all layers of society.
According to the Federal Reserve, the total sum of student debt has reached $1.69 trillion, with 42.7 million students in debt (2025). This number alone could be enough reason why college education should be free. Additionally, a study done by Looney and Yannelis in 2015 states that students from low-income backgrounds face more adverse outcomes when taking out a student loan. While some research suggests higher income in households with student debt is attributed to the graduate working harder to pay off the loan (Fry, Braga & Parker), this may also be attributed to other factors. People who have obtained tertiary education have statistically higher incomes, more opportunities and financial avenues to pursue. At the same time, indebted graduates are more likely to say that college education should be free and that theirs wasn’t worth it (Fry, Braga & Parker). Moreover, people who are heavily in debt tend to put away major life events such as buying a home or even saving for retirement, which decreases their quality of life.
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Inequality is a major issue that is only highlighted by the US education system. Why college education should be free? Staggering evidence suggests that free college education contributes to social mobility. A study done in an elite, tuition-free university in Brazil found that low-income students who graduated earned 26% more than their peers over the next decade. For high-income students, the correlation between earnings and education is minor, since they have more job opportunities to explore (Duryea et al., 2023).
Low-income students are more likely to need a loan to enter college, and are less likely to be able to pay it off with minimal interest. Some activists argue that college education should be free for first-generation students. Student loans, lack of access to resources, and pressure from family all stack up, making the college experience much harder for first-generation students compared to learners from privileged backgrounds. A study by Palmisano, Biagi, and Peragine states that the degree of parental education and occupation are the strongest predictors of higher education levels in their children (2022). From these findings, we can draw the conclusion that college education is a major factor in increasing social mobility and equality. Access to college education would reduce generational debt by eliminating its main cause.
So, should college be free? Widespread access to college education ensures higher participation levels. For underprivileged groups, removing or lowering tuition fees would break barriers that make social mobility nearly impossible. As of now, the US education system promotes inequality and favoritism. First-generation students struggle to get accepted to colleges and to keep their spots. The lack of resources makes it impossible for underprivileged students to go to college without taking a loan. While graduating leads to these students breaking the cycle of poverty and reaching higher income levels, they still report low levels of life satisfaction due to financial struggles. Debt forgiveness programs and tuition-free colleges would promote equal opportunities, leading to economic and social change.
References Provided
Board of Governors of the Federal Reserve System. (2025, June 12). Federal Government; Consumer Credit, Student Loans; asset, level [FGCCSAQ027S]. FRED, Federal Reserve Bank of St. Louis. Retrieved [18.06.2025], from https://fred.stlouisfed.org/series/FGCCSAQ027S
Duryea, S., Ribas, R. P., Sampaio, B., Sampaio, G. R., & Trevisan, G. (2023). Who benefits from tuition-free, top-quality universities? Evidence from Brazil. Economics of Education Review, 95, 102423.
Fry, R., Braga, D., & Parker, K. (2024). Is College Worth It? As Economic Outcomes for Young Adults with and without Degrees Have Improved, Americans Hold Mixed Views on the Value of College. Pew Research Center.
Looney, A., & Yannelis, C. (2015). A crisis in student loans? How changes in the characteristics of borrowers and in the institutions they attended contributed to rising loan defaults. Brookings Papers on Economic Activity, 2015(2), 1–89.
Palmisano, F., Biagi, F., & Peragine, V. (2022). Inequality of opportunity in tertiary education: evidence from Europe. Research in Higher Education, 1-52.
Singh, K., Cheemalapati, S., RamiReddy, S. R., Kurian, G., Muzumdar, P., & Muley, A. (2025). Determinants of Human Development Index (HDI): A Regression Analysis of Economic and Social Indicators. arXiv preprint arXiv:2502.00006.