The provision of subsidized higher education has revolutionized education in most parts of the world. Government from various parts embraces the practice in an attempt to improve their development of the economy; this occurs through the improvement of the citizens’ literacy and skill levels. It opens doors to opportunities for individuals with financial challenges, in educational progress. Many individuals have the ability of achieving high academic accomplishments. A good number of the individuals terminate their education due to funds inadequacy; this is where the government’s subsidies come into the picture. Higher education subsidies’ primary goal is the promotion of college enrolment; this occurs through reduction in tuition costs. Previous studies show that a reduction in the cost of education acquisition makes colleges more accessible, and eases families’ ability to afford intuition.
There are strategies and policies regulating the subsidization process. The guidelines determine who is eligible and how the funds reach the right students. Efficient coordination between the nation’s funding and educational providers ensures the provision of quality of education. The subsidies occur in two primary forms; operating subsidies, and means-tested grants. The operating subsidies primarily receive funds from local and state governments.
The educational system receives annual funds from the government; this makes it possible to subsidize more than half of educational expenditures. It lowers the tuition fee for all students equally. Mean-tested grants, on the other hand, follows outlined criteria. It focuses on the allocation of funds based on the economic needs of each student. The loan programs focus on eligibility of students based on the students and their families’ economic positions. It increases college enrolment and the desire to work harder in achieving educational excellence.
Support of Subsidized Higher Education
Since its introduction, the subsidized higher education has made several changes in the educational system. An increase in government efforts and involvement, in the educational process, has a positive effect on the provision of education. Making the implementation a success requires cooperation of all stakeholders including the; government, students, families, and Department of Education. It has several advantages including; facilitating the fast completion of degree courses, contribution to economic progress, and lowering of the time taken to repay student loans.
First and foremost, it helps students finish their education fast. Statistics show that a large number of students, who qualify for positions in institutions of higher learning, do not make it. It is due to the lack of funds to pay for their tuition, upkeep, and other expenses. Some of them give up dreams of joining college. They resort to affordable options. Other students may join the institutions and later defer. They defer and work for more funds. The interferences slow down the learning process. However, with the introduction of subsidized learning, many students afford the remaining tuition fees. Aid from personal funds and student loans also contribute. They acquire relevant skills, get good jobs and afford quality life. They also work hard in ensuring economic progress; this occurs through the acquired skills and knowledge.
The subsidies also shorten the time spent in repaying student loans. The loans accumulate to a large amount; this takes students years in repaying. Some continue paying student loans even years after employment. Subsidies reduce the loans students require for college. It makes the easy and timely repayment of loans possible; this decreases default rates.
Counter-argument against Subsidized Higher Education
The introduction of subsidized higher education has made progress in the educational field, within the country. However, this has not been smooth sailing. The government faces major challenges in the reform of finance concerning the provision of higher education. The challenges include; constrained public budgets, an increase in demand due to easy accessibility, pressure of rising private demand of education, corruption in the financial systems and funds misuse. It is especially due to focus on student loans and tuition fees as the principal sources of higher education funding.
The financial schemes aid students in acquiring education. However, irregularities occur. There are officials who take advantage of the system; they abuse their responsibilities for personal gains. They interfere with the allocation and keep some of it. The corrupt practices lead to the use of funds for purposes, other than the intended. It cripples the functions of policy makers.
Rebuttal
The country’s educational system should focus on eliminating the challenges associated with subsidies; this ensures maximum benefits on the system. Oversight, micromanagement and monitoring of its financial operations ensures students benefit from the system. It will eliminate discrimination on the basis of sex, ensure outcome-measurement on students, and outline top-down rules and national standards.
Conclusion
The funding of higher education is a crucial part of government expenditure. It works hard in ensuring subsidized education is accessible to the students, in various institutions. Based on the two criteria; mean-tested grants and operating subsidies, this is possible. The Department of Education allocates a substantial amount, annually, to the project. Despite the evident challenges, the funding process progresses. Its expansion increases the number of individuals acquiring higher education in colleges. It is crucial to note that individuals with high literacy, knowledge and skills have better career opportunities; this translates into economic progress in the country.
