We recently witnessed another reduce tuition fees campaign.
We need to understand that we live in a world of scarce resources. Even in the so-called system today there are inefficiencies, but at least we do not want to add to this.
Even though many students graduate in huge debt, we cannot make education any closer or really close to free. The reason is because the government is already heavily subsidizing universities and passing these savings on to students.
A value must also be attached to education today, as our deficient high school system allows the entrance of those students who are potentially unsuitable to the nature of the university workload.
Seats should be available to those who can make the most use out of them and return society a return on asset.
Job availability between skilled labour and the unskilled labour markets may create imbalance. There will be a shortage on the unskilled part in the future.
From a psychological prospective value or opportunity cost is also important in understanding why value is important, if education is not valuable or doesn’t represent a significant investment than one may not take things into serious consideration and may also not care incase he or she fails.
Lower fees will not reduce the problem but in fact lead to inefficient use of a resource.
As a society and as future taxpayers, that might not be in our best interest. While not reducing the fees will keep students accountable and responsible for their future performance
Loans, scholarships, other government grants, and more are available as a source of financing one’s education.
So let’s not ask for too much while any decrease in fees means that more could come out of increasing the tax stake.