Should College Be Free? The Economic Impact of Free College for 2025

by Imed Bouchrika, Phd

Co-Founder and Chief Data Scientist

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Education face countless issues. On top of the now popular, Safe Space Movement is the never-ending issue of student loan debt. In 2020, 45 million borrowers owed a staggering $1.56 trillion in student loan debt (Friedman, 2020) with 1.5 million US students graduating with debt four years prior (Goldy-Brown, 2019). Student debt is the second largest category of consumer debt in the country next to mortgage debt. However, because the cost of a college education is skyrocketing, students have no choice but to borrow money to pay for their studies.

As a fundamental right, the debate on whether free college education should be a public priority continues. Advocates of free college insist that it would significantly contribute to the economy, and, therefore, secure the nation’s future. But opponents think otherwise, for them, free college is a flawed policy that would eventually fail—why should college be free if it creates inequality in attainment and completion? Those in favor of paying for college propose that money raised from tuition fees could actually be used in helping poor students, while at the same time creating a vital source of income for universities (Adams, 2017).

Should college tuition be free for everyone? In this article, we revisit the main arguments that are at the core of the debate on free college. While the debt burden among students is a major concern, providing loans and grants might not be the only solution that could fix this pressing issue.

Should college be free? Table of Contents

1. Five Issues in the Debate
2. Main Arguments Advocating Free College
3. Main Arguments Against Free College
4. How can academic quality be maintained in free college systems?
5. Innovative Solutions Beyond Free College: Leveraging Flexible Degree Options
6. Case Studies of Countries with Free College
7. How can accelerated degree pathways enhance cost-effectiveness in free college models?
8. How can free college initiatives secure sustainable funding and long-term accountability?
9. How can free college programs integrate professional certifications to boost career outcomes?
10. How can state policy leadership influence college attainment and the effectiveness of free college?
11. How can online advanced degree programs reshape affordability in higher education?
12. How can free college models benefit from integrating dual degree pathways?
13. How can private sector partnerships optimize free college initiatives?

Five Issues in the Debate

While there are affordable online colleges and universities for early education, nursing, and other degrees, there remain five main themes at the center of the debate on why should college be free. There is the issue of inequality, the debt burden that it creates among students, the direct effect on the future workforce, the overall impact of having postsecondary education on society, and the significance of an educated populace in ensuring economic growth.

The economic impact of free college has become more important now that countries are reeling from the effects of the COVID-19 pandemic. With the availability of free college in Europe and other regions, this has proven to ease the burden on many students. This is especially because college education has the potential to drive major change by equipping students with lifelong learning skills and competencies. A recently published report by the World Economic Forum (WEF) highlights the crucial role of post-secondary education in global upskilling. The report suggests that wide-scale investment in upskilling has the potential to increase the global domestic product (GDP) by$6.5 trillion by 2030 and create 5.3 million new jobs globally (WEF, 2021).

Perna and Finney (2014) developed a framework from a cross-case analysis of the relationship between policy and educational attainment. They identified that the characteristics of existing policies, the state’s historical, demographic, economic, and political context, and the qualities of its higher education system will determine the state policies that are needed to improve educational attainment and close gaps. Simply put, offering free college is not a silver bullet that could solve this higher education crisis.

Main Arguments Advocating Free College

Should college education be free? The question of whether college education should be free is one of the most debatable topics in contemporary society. Increasing educational attainment is the main goal of free college. Economic evidence suggests that education fuels economic growth and global competitiveness (Valero and Van Reenen, 2016). Falling enrollment and inequality in higher education access are just two of the concerns frequently cited by the free college movement. The supporters of free college believe higher education benefits not only the individual but the society. In this section, the gains of providing free post-secondary education will be identified.

Free College Would Decrease Inequality

Social inequality is one of the major arguments as to why colleges should be free. Students who choose to pursue college eventually graduate with an average of $32,731 in debt (Friedman, 2020). Students from low-income families are usually held back by the possibility of incurring huge amounts of debt, and opt not to pursue college. Between 1979 and 2012, the inflation-adjusted earnings gap between two-earner households, one with high school diploma and one with college diploma increased by about $28,000 (Pew Research, 2014). This cycle of inequality is expected to continue unless free college becomes a policy.

Free college would also lessen undermatching, which occurs when students select colleges and universities based on financial needs (Lopez, 2019). While these students could opt to pursue post-secondary education in more selective institutions as their academic achievement and credentials predict, their choice of less selective colleges eventually affects earnings and work opportunities, which negatively impacts their contribution to communities.

So, why should community college be free? Offering free college will promote equal opportunity for all students.

Free College Would Eliminate Debt Burden

One of the central reasons as to why should college tuition be free is that not all students and families can afford college. It is widely accepted that while college is increasingly necessary, it is also increasingly unaffordable. Lopez (2019) studied the detrimental effects of the high cost of college education and concluded that financial factors affect the persistence of students of lower socioeconomic status. Student debt likewise takes a toll on mental health and is cited as one of the reasons why college should be free. One study found that 9 out of 10 borrowers experience significant anxiety due to their loan burden (Gravier, 2021). Eliminating the debt burden through free college would encourage students to pursue post-secondary education, which is essential to the post-industrial, creative economy.

Free College Would Produce a Strong Workforce

The benefits of a more educated populace cannot be stressed enough. College education helps people “learn how to learn". The Covid-19 pandemic has highlighted the need to have this ability to re-skill and upskill in times of rapid change. The expanded performance standards and new learning networks in the post-industrial economy will require workers with both broader and deeper knowledge, skills and abilities for entry-level jobs, and to keep up with the accelerated pace of lifelong learning (WEF, 2021).

Computer technology may have the capability to automate processes, but it also requires a higher level of cognitive and non-cognitive competencies to optimally deliver services. College is believed to be the perfect training ground for all these skills to become embedded in the individual who would eventually join the workforce.

Free College Would Reduce Social Problems

Education plays an important role in a nation’s evolution. Studies reveal that those without college degrees are disproportionately afflicted with falling marriage rates, increases in single parenthood, rising mortality, and opioid addiction, to name a few (Deming, 2019). The critical thinking and deeper learning skills that post-secondary education inculcates have a significant effect on human capital. College education decreases crime and increases civic participation. It has also been established that increases in the quality and quantity of schooling directly increase productivity (Johnes, 2017).

Free College Would Drive Economic Growth

The increase in post-secondary education is the key that propels the economic development of nations (Deming, 2019). This springs up the question, “Should higher education be free?" In different types of economies, as college students graduate without debt, this would give them the ability to earn, save and spend immediately, which could stimulate the economy. This spending will create more demand and more employment opportunities, a significant economic impact of free college as claimed by free tuition advocates. A recent study of students beginning at a four-year public university in Texas by Denning, Marx and Turner (2019) found that free college facilitates led to an increase in degree completion and postgraduate earnings.

Although advances in technology have increased productivity, and, thus, reduced the demand for manufacturing workers, the growing importance of technology to the overall economy has upsurged the demand for educated workers. Overall production output encompasses innovation in work processes that result in increased value. This upturn in demand for highly educated workers that can harness the power of technology and its possibilities has been the defining feature of our post-industrial economy.

Main Arguments Against Free College

In 2020, the total number of student borrowers in the U.S. was 44.7 million, with a loan debt of  $1.56 trillion. Horn (2015) argues that free college policies are misguided because they don’t address the root cause of why post-secondary education costs so much. The goal is to increase enrollment, access, and equality, but free college education policies have failed to deliver. This section will present the main arguments as to why colleges should not be free.

Free College Would Deepen Inequality

While free college is perceived to be the mechanism that could level the playing field, an opposing view argues that free college education would further drive inequality due to the wealth concentration among the top 1% of society (Deming, 2019). Students that belong to the upper socioeconomic status could also avail themselves of free college, and since this group has a starting advantage in terms of basic education, it would widen the earnings gap, thus, strengthening social inequality. A free college program would be regressive because students from poor families are less likely to attend college while their wealthier peers can even choose to study in selective universities.

Free College Would Negatively Affect the Quality of Education

Cutting spending on other areas, such as education research and development to accommodate more students could also compromise the quality of teaching. Proponents of education becoming a commodity through free college argue that making education more accessible makes it less valuable. England’s experience with free college revealed that over time, education quality declined. Caplan in his book The Case Against Education: Why the Education System is a Waste of Time and Money insists that the “college-for-all mentality" delivers little lasting value other than a “credentialist arms race".

Free College Would Not Ensure High Completion Rates

There is no guarantee that free college will benefit all students because some might not even want to go to college. Lochner and Monge-Naranjo (2012) found that the return to college for marginal students is low. The least-prepared students would struggle to succeed. There are long-run factors, such as family environment, that have a significant effect on determining college attainment (Cameron and Heckman, 2001).

Free college recipients are not as motivated to study as those who pay for it. In Denmark, these type of students are referred to as ‘eternity students,’ or those who stay in college for six years or more without any plans of finishing a program. Having free education affords these students to continually transfer from one study program to another. In contrast, paying college students showed greater perseverance in studying and finishing a program.

Free College Would Not Lead to a Well-Educated Workforce

Factors such as the quality of faculty as well as the readiness of students are crucial if post-secondary education is to deliver its perceived benefits. The infusion of money may benefit students by lessening the financial burden of going to college, but it does not ensure quality at all levels. This could lead to a deficiency in hard and soft skills in the professional realm, strengthening the case for why shouldn’t college be free.

Making college accessible could lead to compromising the quality of education, which would defeat the purpose of policies that seek to provide free college for the benefit of society. London is the most educated city in the world and sits atop the list of having the most talented workforce, but in this city, college education is not free.

Free College Is Not Directly Linked to Economic Growth

While education is a key driver of economic development, free college alone would not ensure growth. Education raises creativity and productivity, requiring substantial investments in institutions. Since the provision of free college could affect the quality of education, free access for all to postsecondary education might not be able to provide the competencies and skills needed to produce a strong workforce. The government has many competing priorities and free college requires high education subsidies. Unless spending is well-targeted, there is a high possibility of failure in the long-run (Deming, 2019).

Indeed, a study by Perna et al (2020) on college promise programs as published by the American Educational Research Association revealed that efficient use of resources is at the root of the debate on free college. Their work, “Is a College Promise Program an Effective Use of Resources?" published in the American Educational Research Association, states that “promise programs may advance vertical equity by investing resources in a financial award that reduces costs of attendance for low-income students and creating eligibility requirements that permit students from underserved groups to receive program resources. Programs may advance equity and efficiency by investing in personnel and other supports that enable students from underserved groups to meet eligibility requirements, enroll, persist, transfer, and complete."

How can academic quality be maintained in free college systems?

Maintaining academic quality within free college models requires the implementation of robust accreditation standards and continuous performance evaluations. Institutions should adopt performance-based funding mechanisms that tie financial support to clearly defined quality metrics and learning outcomes, ensuring that increased access does not compromise teaching standards. Regular independent reviews and external audits, coupled with collaboration between educational experts and industry stakeholders, are essential to align curricula with evolving workforce demands. Leveraging digital learning innovations, such as online MPP programs, can also support quality assurance, providing flexible yet rigorous learning environments that meet contemporary academic standards.

Innovative Solutions Beyond Free College: Leveraging Flexible Degree Options

Despite the ongoing debate surrounding free college, it's essential to consider alternative solutions that address the evolving needs of modern learners and workforce demands. One promising direction is the expansion of flexible and cost-effective education pathways, such as online degree programs. These programs allow students to acquire advanced knowledge without being confined to traditional classroom settings, making higher education more accessible to working professionals, parents, and individuals in remote areas.

For instance, pursuing an affordable online master is a practical option for enhancing skill sets and achieving career growth. Online master's programs cater to specific industries' needs, ensuring students remain competitive in a dynamic job market. Additionally, many institutions offering such programs emphasize affordability, thereby lessening financial strain for students.

Investing in these alternatives also aligns with broader goals of upskilling and lifelong learning. By integrating affordability, flexibility, and targeted skill development, these programs complement traditional higher education models and can fill gaps left by free college initiatives. Furthermore, promoting such options can contribute to building a resilient and adaptable workforce, ready to navigate a fast-changing economic landscape.

Case Studies of Countries with Free College

Countries that offer free college education provide valuable insights into such a system's potential benefits and challenges. Analyzing these case studies can help us understand the impact of free college on students, the economy, and society. Here are some notable examples:

Germany

Germany abolished tuition fees for higher education in 2014, making college accessible to both domestic and international students. The country's approach emphasizes the idea that education should be a public good. As a result, Germany has seen an increase in university enrollment, particularly among students from diverse backgrounds. This policy has helped reduce student debt and financial stress, allowing graduates to enter the workforce without the burden of large loans.

Norway

In Norway, public universities do not charge tuition fees, regardless of nationality. This system encourages a high level of educational attainment and promotes equality among students. The Norwegian government supports this initiative through significant public funding. Although living expenses can be high, students benefit from a robust welfare system that provides support during their studies. The country's commitment to free education has led to a well-educated population and a strong workforce.

Finland

Finland offers free education at all levels, including university. The country's model is built on the belief that education is a right for everyone. Finnish universities focus on quality, research, and student welfare, resulting in high graduation rates and strong global rankings. While recent discussions have emerged about implementing tuition fees for non-EU students, the overall impact of free education has been positive, contributing to a skilled labor force.

Sweden

Sweden provides free education to its citizens and EU students, funded by taxes. The system has fostered an inclusive educational environment, attracting students from various backgrounds. Swedish universities emphasize research and innovation, producing a highly skilled workforce. Critics argue that the model is costly and may lead to higher taxes. Still, supporters highlight the long-term economic benefits of a well-educated population.

Scotland

Scotland offers free tuition for Scottish and EU students at its public universities. This policy aims to promote equality and access to higher education. While it has successfully increased enrollment among local students, there has been ongoing debate about the sustainability of the funding model. Some propose that the system should be extended to students from the rest of the UK, but this has raised concerns about financial implications.

These case studies illustrate that free college education can increase access and higher enrollment rates. However, they also reveal challenges, such as funding sustainability and the potential impact on educational quality. By examining these examples, policymakers can gain insights into the advantages and drawbacks of implementing similar systems elsewhere.

How can accelerated degree pathways enhance cost-effectiveness in free college models?

Accelerated degree programs can reduce overall education costs and enable students to enter the workforce sooner by streamlining curriculum structures and focusing on competency-based outcomes. These pathways help mitigate financial barriers by shortening program duration and minimizing related expenses, thus offering a viable strategy for free college models to maximize their impact. For example, incorporating accelerated tracks such as the shortest associate degree program enables institutions to deliver essential credentials quickly while sustaining academic rigor and aligning with labor market demands.

How can free college initiatives secure sustainable funding and long-term accountability?

Developing free college models that are both accessible and high-quality requires robust funding strategies and transparent oversight. Policymakers must explore diversified financing options—combining public investment with private partnerships and performance-based incentives—to mitigate fiscal risks. Establishing clear performance metrics for educational outcomes and institutional management helps ensure that resource allocation directly contributes to sustained academic quality. Moreover, integrating streamlined pathways, such as pursuing the easiest undergraduate degree, can bolster cost-efficiency without compromising rigorous standards. Collaborative monitoring among government agencies, colleges, and industry stakeholders further reinforces accountability, ensuring that free college initiatives adapt to evolving economic conditions while consistently meeting learner needs.

How can free college programs integrate professional certifications to boost career outcomes?

In a rapidly evolving job market where industry-specific skills are in high demand, integrating professional certifications into free college curricula can offer graduates a significant competitive advantage. By incorporating targeted credentialing programs alongside traditional academic pathways, institutions can better prepare students for immediate workforce entry and address skills gaps. This model promotes a seamless transition from theoretical learning to practical application through close collaboration with industry experts and certification bodies. Moreover, embedding these industry-recognized credentials through initiatives like the highest-paying certifications ensures that graduates possess both a robust academic foundation and the essential, up-to-date technical proficiencies required in modern industries.

How can state policy leadership influence college attainment and the effectiveness of free college?

State policy leadership plays a pivotal role in improving postsecondary attainment, beyond merely making college free. Effective policies must focus on both increasing access and ensuring quality education for all students. Here’s how:

• Establishing statewide goals: Perna and Finney (2014) highlight the importance of state leadership in setting shared goals for higher education attainment. These goals should align with the state’s economic needs and workforce demands, ensuring that students graduate with skills that are in demand.
• Collaboration between state and institutions: A partnership between the state and higher education institutions is crucial. Policies should incentivize colleges to increase completion rates, improve graduation rates, and offer programs that align with market needs. This can enhance both student success and workforce preparedness.
• Addressing root causes of low attainment: State policies must tackle underlying issues like underfunded institutions, overcrowded classrooms, and insufficient support for at-risk students. Policies should focus on improving these structural aspects to maximize the benefits of free college programs.
• Ensuring efficiency in resource allocation: The success of free college programs depends on the efficient allocation of resources. Policies should not only focus on reducing tuition costs but also on investing in faculty, infrastructure, and student support services to maintain quality.

By focusing on these areas, state policies can help make free college programs more effective, reducing barriers to college completion and ensuring a strong workforce for the future. For students interested in higher education, earning top paying degrees can significantly enhance career prospects and long-term financial stability.

How can online advanced degree programs reshape affordability in higher education?

Online advanced degree programs have emerged as viable alternatives that enhance access without compromising quality. By leveraging digital platforms and flexible scheduling, these programs lower operational costs and broaden educational access for working professionals. They also offer targeted curricula that can quickly adapt to industry trends and skills demands, ensuring that graduates are competitive in a rapidly evolving labor market. Institutions that partner with industry experts and apply rigorous quality controls pave the way for effective, cost-efficient learning pathways. For example, enrolling in the easiest online master's programs to get into can serve as a strategic step toward acquiring advanced skills while addressing affordability challenges across the higher education landscape.

How can free college models benefit from integrating dual degree pathways?

Integrating dual degree pathways within free college models can broaden academic horizons and amplify career opportunities by combining complementary fields of study. Such integration enables students to develop interdisciplinary skills and access enhanced professional networks, which are critical in today's dynamic job market. By aligning curricula with evolving labor market demands and incorporating tailored dual degree tracks through partnerships with specialized institutions, free college programs can offer higher value and competitive advantages. For example, programs offered by colleges with dual degree programs illustrate how dual degree options serve as a conduit for blending theoretical knowledge with applied expertise while maintaining affordability and accessibility.

How can private sector partnerships optimize free college initiatives?

Leveraging strategic collaboration with industry leaders can drive innovation and bolster long-term sustainability in free college models. Such partnerships enable institutions to align curricula with current labor market demands through research collaborations, targeted internship initiatives, and the integration of cutting-edge technologies. By pooling expertise and resources, academic institutions can design skill-specific modules that complement traditional learning and provide pathways to advanced credentials, such as a 1 year masters online. This cooperative approach not only enhances practical learning outcomes for students but also reinforces accountability through shared performance metrics, ensuring that free college initiatives remain adaptable to evolving industry standards.

Increasing Attainment Through Leadership

Economic barriers are not the only reason why postsecondary completion rates have remained low. As these arguments reflect, there is a deeper problem that can be traced to state policy leadership. Perna and Finney (2014) concluded in their research that “improving attainment is expected to require state policy leadership that sets shared statewide goals for attainment and steers the state’s colleges and universities to achieve these goals." The state, as well as the educational institutions, should work together by formulating policies that would give students access to high-quality post-secondary education.

The arguments presented on why should college be free are to some extent valid, but other crucial factors still need to be addressed. It is interesting to note that the counter-arguments highlighting the weaknesses of the free college policy also underscore the need for the state and the institutions to work hand in hand to increase attainment and reduce inequality.

Expanding access to higher education should be a national priority to equip the future workforce for the post-industrial economy. Critical thinking skills, abstract problem-solving, serious consideration of values and ethics are just some of the skills and competencies that college education teaches.  Free college education may have a large short-run cost, but it will provide significant benefits in the long run. Policies that increase college attainment can pay for themselves because college graduates have been proven to earn higher wages, and, therefore, have the capacity to pay higher taxes (Deming, 2019).

Having a well-designed free college plan is crucial to eliminating low rates of degree completion and minimizing overcrowded and underfunded institutions. While those who advocate and those who oppose free college differ in their perspectives, both agree that the economic impact of free college cannot be overstated for its potential to shape a well-equipped workforce. A well-educated workforce is an important ingredient in the stability of economies and in the overall advancement of societies.

Key Insights

• Student Loan Debt Crisis: The U.S. student loan debt reached $1.56 trillion in 2020, impacting 45 million borrowers. This significant debt burden has heightened the debate on free college education.
• Economic Impact of Free College: Free college is argued to boost the economy by increasing educational attainment, driving economic growth, and enhancing the global competitiveness of the workforce.
• Reduction of Inequality: Advocates argue that free college can reduce social inequality by making higher education accessible to students from low-income families, potentially closing the earnings gap between high school and college graduates.
• Enhanced Workforce Competency: Free college is believed to prepare a more skilled and adaptable workforce, crucial for the evolving demands of the post-industrial economy and technological advancements.
• Potential Quality Decline: Opponents of free college warn that it might lower the quality of education by overburdening institutions and reducing the incentive for students to complete their degrees efficiently.
• Inefficiency in Resource Allocation: Critics argue that free college does not address the root causes of high education costs and might lead to inefficient use of resources, failing to ensure long-term benefits.
• State Policy Leadership: Effective state policy leadership is essential for improving educational attainment and addressing the deeper systemic issues within higher education, beyond just financial barriers.

FAQ

1. What are the main arguments for free college? Advocates argue that free college can reduce social inequality, eliminate student debt burden, produce a stronger workforce, reduce social problems, and drive economic growth. They believe that higher education benefits both individuals and society, and making it free will increase access and completion rates.
2. Why do some people oppose free college? Opponents argue that free college can deepen inequality, negatively affect the quality of education, not ensure high completion rates, and not necessarily lead to a well-educated workforce. They also believe that free college is not directly linked to economic growth and could lead to inefficient resource allocation.
3. How does student loan debt affect individuals and the economy? Student loan debt places a significant financial burden on individuals, affecting their mental health and financial stability. It also impacts the economy by limiting graduates' ability to spend, save, and invest, which in turn affects overall economic growth and productivity.
4. Can free college reduce social inequality? Yes, proponents argue that free college can reduce social inequality by making higher education accessible to students from low-income families. This can help close the earnings gap between high school and college graduates and promote equal opportunities for all students.
5. What is the potential economic impact of free college? Free college is believed to drive economic growth by increasing the number of educated workers, boosting productivity, and enhancing global competitiveness. Educated workers can better adapt to technological advancements and contribute to innovation and economic development.
6. How might free college affect the quality of education? Critics argue that free college could lead to overcrowded and underfunded institutions, compromising the quality of education. They believe that without proper investment in faculty and resources, the overall educational experience could decline.
7. Does free college ensure higher completion rates? Not necessarily. There is no guarantee that free college will benefit all students, as some might not be motivated to complete their degrees. Factors such as family environment and student readiness play significant roles in determining college attainment.
8. What role does state policy leadership play in educational attainment? Effective state policy leadership is crucial for improving educational attainment. States need to set shared goals for higher education and steer colleges and universities to achieve these goals. Collaboration between the state and educational institutions is essential for increasing access, quality, and completion rates.
9. Can free college lead to a well-educated workforce? While free college can increase access to higher education, it does not guarantee a well-educated workforce. The quality of education, faculty, and student readiness are critical factors in ensuring that graduates possess the necessary skills and competencies for the workforce.
10. Is free college directly linked to economic growth? Education is a key driver of economic development, but free college alone may not ensure growth. Substantial investments in institutions and efficient use of resources are necessary to produce a skilled and educated workforce that can contribute to economic development.

References:

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