Researchers at Georgetown Claim Joe Biden’s Free College Plan Will Pay for Itself
“part of Senator Sanders and Congresswoman Pramila Jayapal’s College for All Act of 2017”
Doesn’t it seem coincidental that these researchers are saying this right before the 2020 election?
Campus Reform reports:
Profs claim Joe Biden’s free college plan will pay for itself. Other experts disagree.
Researchers from Georgetown University are claiming that Democratic Presidential nominee Joe Biden’s “free” public college plan would pay for itself within ten years.
According to the “Biden Plan for Education beyond High School,” a Biden administration would make public colleges and universities tuition-free for families with incomes below $125,000. As “part of Senator Sanders and Congresswoman Pramila Jayapal’s College for All Act of 2017,” this plan “will help roughly 8 out of every 10 families.”
According to Forbes senior contributor Rob Berger, the Biden campaign only added Sanders’s policy to the website in March 2020, likely to appeal to the Democratic party’s left-wing after Biden’s victory in the Democratic primaries.
Furthermore, before adopting Sanders’ plan, Biden’s website stated that he planned on funding his proposals “by eliminating the stepped-up basis loophole and capping the itemized deductions the wealthiest Americans can take to 28%.” This has also been removed from the website.
The Biden campaign’s initial estimate of the plan’s cost — $750 billion — was also removed from the website in March 2020, according to Berger.
In September 2020, Professors Anthony Carnevale and Jenna Sablan of Georgetown University announced a report stating that “the total price tag for the Biden plan would reach $683.1 billion” in its first ten years, with a total benefit of $1.2 trillion in the same period. They cite increased earnings among lower and middle-class Americans, which would increase tax revenues.
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Comments
The thing is, there aren’t enough jobs at the moment to make use of all the college graduates being pumped out. Yes, college graduates make more, but, only if a job is available. My guess is that at least half of the college graduates are not employed in a position where the degree is even necessary. They could have started that job at 18 and been both 4 years of income richer and without the added debt. The only beneficiaries of free college are the professors whose jobs are being subsidized by taxes. I guess the research can’t get any more biased.
Even Mircosoft, CPA firms, and lots of other firms ARE NOT requiring college degrees for jobs they previously required them for.
The Education Bubble has burst like the Hindenburg…..
Many of the degrees are useless. Pushing someone into college who doesn’t have the basics will inevitably fa I’ll l. Until they start at the beginning and not simply push through idiots to keep up the numbers why bother?
Maybe all these professors will cut their salaries.
That’s it.
It is ALL a numbers racket now.
What a chamber pot FULL of CRA….er…. Georgetown level IQ….
Did these brilliant people adjust these increased earnings depending on what subjects the students would take for free? Just wondering. In the real world, many people will take advantage of something that’s free but not if they have to work for it.
IOW, Don’t expect a lot of top notch STEM graduates who will contribute greatly to the economy and make good money for it.
Sadly many HS graduates are barely functional. How will they deal with college? A four year party? What are they paying for during this time?
Try 78% of schools in one of the largest cities in the nation getting an F grade and giving free college to most of those functionally illiterate HS graduates.
The voters had ZERO say in that give-a-way by run-a-muck college administrators.
If true the college should borrow the money and get paid by the students who are making all the projected new income. There is no reason for the Govt to get involved at all.
Here’s what happens when the “College Degrees” become common, They become the defacto entry level requirement for any type of job; and although that tide is going out finally, I saw it in practice a few years ago when I retired at 55. I thought I might get a job just to get out of the house but nothing stressful so I went to a Job Fair…
Most of what was on offer were sales jobs or training programs, but one place was looking for some clerical type work with some counter work and some light data entry – think being a counter clerk for UPS or someone similar. Okay, maybe, whatcha pay? $11.50 an hour… but and the recruiter looks me in the eye “You must have a college degree”. Well, I laughed, and she got mad. A degree gets you a job at the counter and $11.50 an hour.
I took a job delivering flowers two days a week for a local florist; a job which ai really enjoyed until they wanted more than two days a week from me.
So long as the loans or subsidies are for useless degrees, no program will pay for itself. There are only so many deans and administrators that society can absorb
“There are only so many deans and administrators that society can absorb”
Actually, there are only just so many McDonald’s around…
We’re not missing a lot of diamonds in the rough. If you score well on the PSAT you can get a National Merit Scholarship and go to some colleges on a full ride. Big scholarships even at lower levels of performance especially for URM. If you’re really strong college material, you can get to college.
But in a tough world, more people should be learning trades, not sociology and grievance studies. College is not the most efficient way for everyone, and we need more efficiency.
Some degrees are so obscure that no one knows if they have value. They are more useful as a footnote on an article that usually makes no sense.
Even if it doesn’t, we can use some of the surplus left over from the Iraq war, which was also going to pay for itself.
Once the government is paying for your education, expect government to have a great deal more say in how much professors are paid, what they will teach and how they’ll teach it. Expect to be directed to degrees that will be ‘beneficial for the community’. More mandatory “Love Big Brother” classes. The one who pays for the piper, calls the tunes.
“Researchers at Georgetown Claim Joe Biden’s Free College Plan Will Pay for Itself”
Must be the new math they are teaching these days.
yikes…let see if I get this right…Joe Biden is willing to put $683.1 billion on the come line? and someone is going to let them roll the dice?
How does this boondoggle not go into infinity as H.S. Seniors graduate every year? And things generally don’t get cheaper as time goes by…
Biden is an empty husk for Globalists.
Today in a speech he said he was running against GWBush….