The Great Debate: Should Students Be Paid to Go to School? Examining the Pros and Cons

College is a significant investment, and the question of whether students should be incentivized with payment to attend school is a complex one. Weighing the advantages and disadvantages, considering alternative approaches, and understanding the long-term implications are essential for students, parents, educators, and policymakers alike. This article delves into the multifaceted arguments surrounding this issue, exploring the potential benefits and drawbacks of such a system.

The Rising Cost of College

The cost of higher education has been steadily increasing, making it a significant financial burden for many families. College tuition and fees form a big part of the cost of going to college, but they’re not the full picture. If enrolling in college, a four-year undergraduate degree can cost between $110,000 and around $240,000, depending on the type of school you attend. What’s more, these costs are set to increase in the future, though you can offset them through scholarships, grants, and savings. According to the Education Data Initiative, between 2010 and 2020, college tuition inflation averaged 4.63% annually. Since 1963, college tuition has increased by nearly 750% after adjusting for inflation. The average cost of college-including books, supplies, and living expenses-is $35,551.

The Benefits of a College Education

Despite the high costs, a college education can be a worthwhile investment for many individuals.

Increased Earning Potential

Overall, college graduates with a minimum of an undergraduate degree earn significantly more than employees with a high school diploma only. According to the Bureau of Labor Statistics, graduates with a bachelor’s degree or higher had median usual weekly earnings of $1,556 when working full-time, compared to just $866 for high school graduates with no college studies. As you progress up the career ladder, you’ll be able to use your growing work experience to secure even better-paid positions, all built on the basis of your college education.

Career Opportunities

Not only can a college degree help you get a better job, but it’s also a minimum requirement for many career paths. If you want to secure virtually any professional position, whether, in business, social services, finance, or IT, you’ll need some kind of tertiary qualification. With more and more employers looking for candidates with a college education, it will be harder than ever to be competitive in the job market in the future if you don’t have at least an undergraduate degree.

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Networking and Skill Development

Going to college gives you much more than a piece of paper. Notably, you’ll meet a wide range of specialists and future professionals in your field, from your fellow students to your tutors and professors. The connections you make at college can put you in touch with career opportunities, give you essential career advice, or provide valuable professional references. They could turn out to be future mentors, clients, suppliers, or business partners. College education teaches several skills that can be difficult to master elsewhere. A range of available courses during the four years of college teaches students problem-solving, critical thinking, cooperation, communication, conflict resolution, networking, and more.

Arguments for Paying Students to Attend School

The idea of paying students to attend school, sometimes referred to as an "academic allowance," is a controversial one, with valid arguments on both sides.

Fostering a Good Work Ethic and Demonstrating Value

Many parents view school as the current occupation of the child. This is a way for children to actually earn their money, rather than just having it given to them. This may help to foster a good work ethic. Additionally, the child is getting paid more when she achieves better results. Providing an academic allowance can also demonstrate to children that education is valued by the parents.

Motivating Students

While we would all like for the intrinsic reward and the love of learning to be enough motivation, there are times when it simply isn’t. We aren’t all interested in every subject. One of my sons has never enjoyed math. There was never any intrinsic motivation for him to learn math. He is currently a senior in college, and he has even chosen a major that requires little math.

Reducing Financial Stress

Knowing that their education is paid for can significantly reduce stress for students. When students don’t have to worry about tuition, room, and board, they have more time to concentrate on studies. In fact, 60 percent of students who enter college and do not finish cite the stress of having to balance work and classes as the main reason for dropping out.

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Increasing Graduation Rates

Students who graduate without debt have a head start on achieving their professional and financial goals. They can consider positions based on their career path and their big-picture aspirations, rather than the highest-paying positions. The burden of student loan debt can follow a person throughout their lifetime.

Arguments Against Paying Students to Attend School

Despite the potential benefits, there are also strong arguments against paying students for attending or achieving good grades in school.

Undermining Intrinsic Motivation

One of the most common arguments against an academic allowance is that children won’t develop a love of learning. They will only be motivated to learn in order to earn monetary compensation.

Creating a Sense of Entitlement

When children have their college expenses fully covered, they may not develop a strong understanding of financial responsibility.

Potential for Rushed Work

I have found that some students will rush through the written material in order to get to the computer assignments. You don’t want your child to rush through the homework assignments in order to obtain screen time. You will likely need to provide some quality control by checking over the homework before allowing the screen time.

Financial Burden on Parents

Paying for college can be a significant financial burden, especially if parents haven’t adequately saved or have multiple children to support.

Alternatives to Paying Students

While directly paying students for attending school may not be the most effective approach, there are alternative ways to incentivize and support their education.

Praise and Encouragement

Parents on this side of the fence will want to provide praise and verbal encouragement. Remember to praise the effort as much as the results. If the child worked diligently on the assignment, but didn’t do very well, be sure to tell the student how proud you are of his effort. Let him know you are impressed with the way he didn’t become discouraged and give up. Then, provide some assistance with the assignment. Help your child to understand the mistakes that were made. Remind children that we learn by making mistakes.

Special Celebrations

If the child does bring home a good report card, the parents may wish to suggest a special celebration. Dinner at a favorite restaurant or a trip to the ice cream parlor may be in order.

Trade Schools and Community Colleges

While many modern jobs require a degree, this is not the case for all career paths. For example, you can pursue a career in most trades with a qualification from a technical college and/or an apprenticeship. Other roles don’t need any kind of qualification and allow you to build experience on the job. A community college can allow you to gain a degree at a much lower cost than a four-year university.

Online Courses and Entrepreneurship

Another way to build your skills and knowledge is through short-term courses offered by universities or MOOC (massive open online course) platforms. Another alternative to study is to launch your own business, especially if you’re prepared to take on this responsibility, put in the hard work, and have a winning idea.

529 Savings Plans and Scholarships

529 savings plans and tax-advantaged savings accounts allow you to contribute funds that will be invested on your behalf and later withdraw it to pay for your college tuition and expenses. Therefore, your initial investment can grow over time, meaning that you effectively pay less for college in the end. It’s best to start contributing to 529 plans as early as possible to get the maximum benefits. Don’t overlook the value of scholarships and grants, both of which can be extremely helpful in allowing you to pay for college.

The Debate Over Free College

The question of whether college should be free is a related but distinct issue. Free tuition could definitely deliver plenty of improvements to society and open the doors to new opportunities for students. At the moment, while there are programs to help make college more affordable for students, college is not free in the United States. This means students need plans to help them cover the cost of tuition.

Pros of Free College

Decreased Student Debt: If tuition were free, students would take on significantly fewer student loans.
Societal and Economic Benefits: Our society and economy have benefited from tuition-free college in the past.
Equal Opportunity: Everyone deserves the opportunity to get a college education.
Increased College Attendance: By negating the large cost of a college education, we could see an increase in the number of students able to attend college.
Skill development: College offers more than courses related to the student’s major and a chance to enter a specific career field.
Economic Growth: With free college there is potential to drive economic growth. If students graduate with little to no debt, they would have more money from their income to put back into the economy.

Cons of Free College

High Costs: Tuition-free college is not free, and students would still have large debts.
Taxpayer Burden: Taxpayers would spend billions to subsidize tuition, while other college costs would remain high.
Attracting Unprepared Students: Tuition-free college attracts students who really shouldn’t be in college, wasting public money and decreasing college completion rates.
Increased Taxes: If America were to move to a tuition-free college policy, where would the money come from? The short and simple answer is likely in the form of increased taxes. So, who would be paying for those? It could impact the upper middle class as well as those in higher income brackets.
Lack of seriousness: A tuition-free college experience may result in an increase in students not taking it seriously. Some students state that the realization of how much they or their family is paying drives them to perform well in college and actually attend their classes.
Decline of private schools: One concern is that if college is made free, we could see the decline of private schools. Since private schools rely on tuition and donations for a good portion of their funding (and their current endowment programs), they could find it difficult to compete with public colleges on a financial level.

Finding a Balance

Ultimately, the decision of whether to pay students to go to school, or whether parents should pay for their children's college education is a complex and personal decision that holds lasting implications. A middle ground could involve a compromise where parents cover a significant portion of college costs, allowing students to focus on their studies while still instilling financial responsibility. When a good chunk of their college costs are covered by their parents, students can put more time towards their studies and extracurricular activities because they aren’t as worried about working extra jobs or saving money to pay for school. Although students might still have to apply for loans and take on debt, if their parents help cover some costs, the amount of debt they acquire will be less than if the student had to pay it all themselves. This can make a huge difference for students later on in life.

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