It strikes me that most people in favour of tuition hikes view higher education as a net loss paid by their taxes, rather than as an investment that will bring high dividends in the future. It is my wish that more people approached higher education funding like venture capitalists approach startups — as an investment rather than as a cost. Let me explain what I mean.
Statistically, 9 8 out of 10 startups will fail, costing venture capitalists millions. However, the 2 that succeed will more than cover the losses on the other 8, with lots of extra profit on top, which is why the VCs continue to do it.
Opponents to free higher education tend to point out how many students have trouble finding jobs after they graduate, especially those who chose to major in humanities. However, if we look at it from the same perspective as venture capitalists, it doesn’t matter that many students who receive higher education end up working minimal-wage jobs. We as a society reap our monetary and cultural benefits from those few who do succeed.