But there’s a problem: These plans are guaranteed to escalate already high dropout rates, as more and more students start their higher education with no financial risk to themselves. They will, however, have ever greater academic risk, since 75% of community-college students now start their “higher education” with remedial reading and math classes, and less than 10% graduate on time.
The ratio of debt to inability that causes students to drop out is unknown, but the more the government lures unqualified students into the groves of academe, the more students will be falling out of the trees.
Statistics about accumulation of student debt are complex, but debts are mostly owed by people with manageable loan payments and by graduate students who will make a good living from their advanced degrees.
“Free” is often the most exoensive approach.