TERTIARY STTERTIARY STUDIES UDIES
Break the mould of how we educate and who pays
The question is not if society can make free tertiary education available, but whether it should
Much of the public debate over the financing of tertiary education revolves around identifying the sources of funds for "free" college and university attendance. The debate assumes that taxpayers ought to fund students’ acquisition of qualifications. This assumption must be challenged. The question is not if society can make free tertiary education available, but whether it should. The answer is arguably no, because qualifications are income-producing assets for graduates. Most students attend university to obtain qualifications that will allow them to earn a greater lifetime income than had they not attended. Generally, the economic benefits to graduates are relatively high. Taxpayers typically should not finance such income-producing assets for individuals. If people invest in a house in order to rent it to others, taxpayers do not finance the purchase price. To do otherwise would magnify inequality. Taxpayer funds should be made available to finance social justice objectives that...
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