Gave a little thought to President Obama's proposal that community college be free. One determinant factor to me, is whether the price tag for the college education is going to go up or down if we make it free.
I think a college education is too expensive. Regardless who is paying for it, the cost needs to come down.
I don't have time to look up the statistics, but I wonder how the price tag for high school compares with that of community college. I suppose high school is less expensive. If we convert college to fit the economic model we have for high school, we should be able to reduce the cost.
There is a principle of economics I once came up with. If you put money on the table, someone will sweep it off. Currently, much of college education is paid for through student loans. As long as that loan money is there, the colleges and universities sweep it off the table. They can charge high tuition rates, because there is a source (the loan) that is going to pay the money regardless how high the tuition.
But, if college is free, there is no student loan.
I don't favor free community education if Uncle Sam is footing the bill. Uncle Sam simply goes into debt to pay its bills. That leaves no cap on how much money can be placed on the table. But, if we model the economics for community college after that of our high schools, property taxes foot the bill. No one likes their property taxes to go up. They won't allow it. There is resistance to high tuition rates.
So, yes, if we do it this way, you might -- maybe -- sign me up as a proponent of free community college.
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