Free tuition will not solve the problem of pricey education
Live MintOne morning late last month, the financial futures of hundreds of medical students in the Bronx, New York, changed forever. The donation, one of the largest in US higher education history, is an act of generosity that will undoubtedly improve life for Einstein’s students and potentially benefit the surrounding community, one of America’s poorest. It also highlights how much US colleges and universities rely on wealthy donors—and raises the question of whether more systemic changes would better serve students and society. It’s also important to note that the high cost of higher education in the US forces millions of students to take out loans to pay tuition. It’s entirely possible that plenty of Einstein students will just become millionaires significantly faster than they otherwise would have because they don’t have a heavy debt load keeping their net worth in the red.
History of this topic
I owe £84,000 in university tuition fees – and that’s before it goes up
The Independent
University tuition fees: What it means for students and why are they increasing?
The Independent$1B donation makes New York medical school tuition free and transforms students’ lives
Associated PressNYC medical school goes tuition-free thanks to $1 billion donation
Associated Press
Give all students a free year, student union says
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