If I earn a degree from an institution of higher learning--bachelors, masters, doctors--I will be able to produce things of higher value to society at large.
Indeed, having earned such a degree, I will be able to produce things of such high value that society will compensate me many times over the cost of such a degree. In fact, society will reward me so much that I will be able to repay your loan, plus a profit to offset your opportunity cost and even improve your life, and also offset my own opportunity cost and improve my own life. Everybody--the educator, the lender, and the borrower--all benefit from such an arrangement.
Therefore, if you will loan me the cost of such a degree, I will guarantee to you that I will repay your loan with interest, from the profits of all the valuable things I will be producing for society at large.
And then I will go and "earn" a liberal arts degree, and blame you when I cannot produce anything society thinks is especially valuable.
Remind me again: Why do we subsidize higher education?
Indeed, having earned such a degree, I will be able to produce things of such high value that society will compensate me many times over the cost of such a degree. In fact, society will reward me so much that I will be able to repay your loan, plus a profit to offset your opportunity cost and even improve your life, and also offset my own opportunity cost and improve my own life. Everybody--the educator, the lender, and the borrower--all benefit from such an arrangement.
Therefore, if you will loan me the cost of such a degree, I will guarantee to you that I will repay your loan with interest, from the profits of all the valuable things I will be producing for society at large.
And then I will go and "earn" a liberal arts degree, and blame you when I cannot produce anything society thinks is especially valuable.
Remind me again: Why do we subsidize higher education?
via International Skeptics Forum http://ift.tt/2gEscZD
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