Free College for most?

[Wahoo Redux]

Dunno how we pay for this, but

CBS News: Dems Unveil Bill for Free College

[marshwiggle]

Dunno how we pay for this, but

CBS News: Dems Unveil Bill for Free College

G.W. Bush could have said this about the Iraq war.

Didn't someone more recently say something about "making Mexico pay" for something?

It's one of those pesky questions that keep coming up for politicians.

[Parasaurolophus]

Dunno how we pay for this, but

CBS News: Dems Unveil Bill for Free College

You pay for it by having the Fed enter a number on a computer. (Which, in fact, is exactly how the Iraq war was paid for--and everything else the federal government does. The federal government isn't a state or municipal government; it's not dependent on tax revenue.)

[marshwiggle]

Dunno how we pay for this, but

CBS News: Dems Unveil Bill for Free College

You pay for it by having the Fed enter a number on a computer. (Which, in fact, is exactly how the Iraq war was paid for--and everything else the federal government does. The federal government isn't a state or municipal government; it's not dependent on tax revenue.)

They must have different computers in Venezuela, and other places with hyperinflation. Or else there are a LOT of governments that need to train people in how to enter numbers.

[dismalist]

If I understand it correctly, "free tuition" only means making Pell Grants more generous. That by itself is no bad thing.

[Here is a fairly detailed summary of the bill https://edlabor.house.gov/imo/media/doc/Aim%20Higher%20Act%20--%20Bill%20Summary.pdf

The rest of the bill gives bennies to friends, as can be expected, but is also dysfunctional here and there. Giving cash directly to colleges to boost completion [bottom of page 11], is one example:  Watch those completion rates grow!

[Parasaurolophus]

Dunno how we pay for this, but

CBS News: Dems Unveil Bill for Free College

You pay for it by having the Fed enter a number on a computer. (Which, in fact, is exactly how the Iraq war was paid for--and everything else the federal government does. The federal government isn't a state or municipal government; it's not dependent on tax revenue.)

They must have different computers in Venezuela, and other places with hyperinflation. Or else there are a LOT of governments that need to train people in how to enter numbers.

Venezuela's problem is that it has high debts in a foreign currency. Debts in US dollars are not payable in Bolivars, so it's fucked.

US "debts," however, are in US dollars. And the US can't run out of US dollars.

[marshwiggle]

Dunno how we pay for this, but

CBS News: Dems Unveil Bill for Free College

You pay for it by having the Fed enter a number on a computer. (Which, in fact, is exactly how the Iraq war was paid for--and everything else the federal government does. The federal government isn't a state or municipal government; it's not dependent on tax revenue.)

They must have different computers in Venezuela, and other places with hyperinflation. Or else there are a LOT of governments that need to train people in how to enter numbers.

Venezuela's problem is that it has high debts in a foreign currency. Debts in US dollars are not payable in Bolivars, so it's fucked.

US "debts," however, are in US dollars. And the US can't run out of US dollars.

Just like the Nazis couldn't run out of Deutschmarks.

[dismalist]

Dunno how we pay for this, but

CBS News: Dems Unveil Bill for Free College

You pay for it by having the Fed enter a number on a computer. (Which, in fact, is exactly how the Iraq war was paid for--and everything else the federal government does. The federal government isn't a state or municipal government; it's not dependent on tax revenue.)

They must have different computers in Venezuela, and other places with hyperinflation. Or else there are a LOT of governments that need to train people in how to enter numbers.

Venezuela's problem is that it has high debts in a foreign currency. Debts in US dollars are not payable in Bolivars, so it's fucked.

US "debts," however, are in US dollars. And the US can't run out of US dollars.

This is the wrong thread for these views in the sense that financing is being discussed, whereas whether the project is good or not is of primary importance. They should be taken to a new thread if interesting enough.

[Parasaurolophus]

Dunno how we pay for this, but

CBS News: Dems Unveil Bill for Free College

You pay for it by having the Fed enter a number on a computer. (Which, in fact, is exactly how the Iraq war was paid for--and everything else the federal government does. The federal government isn't a state or municipal government; it's not dependent on tax revenue.)

They must have different computers in Venezuela, and other places with hyperinflation. Or else there are a LOT of governments that need to train people in how to enter numbers.

Venezuela's problem is that it has high debts in a foreign currency. Debts in US dollars are not payable in Bolivars, so it's fucked.

US "debts," however, are in US dollars. And the US can't run out of US dollars.

Just like the Nazis couldn't run out of Deutschmarks.

I dunno. How much monetary sovereignty did the Nazis have? My recollection is that the Reichsmark was on the gold standard, which decreases monetary sovereignty.

[Sun_Worshiper]

Education has a large multiplier effect, so in the long run programs like this can effectively pay for themselves if they are carried out thoughtfully. That said, I would prefer that people pay something for college, even if it is very little, so that they are incentivized to get a return on investment.

[marshwiggle]

Education has a large multiplier effect, so in the long run programs like this can effectively pay for themselves if they are carried out thoughtfully. That said, I would prefer that people pay something for college, even if it is very little, so that they are incentivized to get a return on investment.

There's lots of evidence that people put a lot less value on things that are free. And for education, think of all of the students who slack off now; if they can stay at it until they get kicked out, and without it having any direct cost to them, (only the opportunity cost of not doing something else), it will be much worse.

[apl68]

Education has a large multiplier effect, so in the long run programs like this can effectively pay for themselves if they are carried out thoughtfully. That said, I would prefer that people pay something for college, even if it is very little, so that they are incentivized to get a return on investment.

It doesn't need to be free--it does need to be something that ordinary everyday people can afford.  As it largely was in the postwar era.

[Caracal]

Education has a large multiplier effect, so in the long run programs like this can effectively pay for themselves if they are carried out thoughtfully. That said, I would prefer that people pay something for college, even if it is very little, so that they are incentivized to get a return on investment.

It doesn't need to be free--it does need to be something that ordinary everyday people can afford.  As it largely was in the postwar era.

Its possible that if students weren't taking out so many loans, they would be better incentivized to make more sensible decisions about their ability and willingness to do the work.

I've had quite a number of students on the GI bill. They pay nothing at all and they are almost all very motivated.

[marshwiggle]

Education has a large multiplier effect, so in the long run programs like this can effectively pay for themselves if they are carried out thoughtfully. That said, I would prefer that people pay something for college, even if it is very little, so that they are incentivized to get a return on investment.

It doesn't need to be free--it does need to be something that ordinary everyday people can afford.  As it largely was in the postwar era.

Its possible that if students weren't taking out so many loans, they would be better incentivized to make more sensible decisions about their ability and willingness to do the work.

I've had quite a number of students on the GI bill. They pay nothing at all and they are almost all very motivated.

Are you suggesting that people with military training are disciplined enough to succeed? Maybe something other than the lack of financial pressures going on here..............

[Langue_doc]

I've had quite a number of students on the GI bill. They pay nothing at all and they are almost all very motivated.

I've had similar experiences with students on the GI bill. They've all been highly motivated and a delight to have in my classes.