• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Should higher education be free? The demand for higher education has been increasing rapidly however the supply of higher education is increasing at a lower rate. With supply unable to match the demand it has resulted in higher education value and worth

Extracts from this document...

Introduction

Should higher education be free? The government believe that education is important for the future development of the UK, and are continually investing in the market. With more students than ever before wanting a higher education, competition is growing not just in the Uk, international students want their higher education in the UK .the biggest issue we have seen become more discussed about is the fees that students have to pay and if there should be a fee Higher education currently has a fee of �2335 a year for UK undergraduate on any full time course. Previously university were limited to the rich white people and then over the years opened up and allowed more lower classes and other ethnic minority. The government currently run a system which allows students to take a loan out to cover the fees in which they pay back once they have left the higher education are earning an income suitable to start paying the loan back of. The government also currently offer a grant to students who are coming from less financially able families to help with the higher education. When students decided to look at the choice of higher education they look at marginal benefit and marginal costs and make a rational choice. When looking at the marginal benefit of attending university you find ideas such as increasing their market value of the student, better job perspectives and a more in depth knowledge of you specialised area. ...read more.

Middle

Another possible source of finance is to have the students coming from rich family backgrounds paying more. However you may find that families are unwilling to pay for their child education and may cause the student to have to pay the higher price due to their family wealth. This would mean theses students would have to pay for it by taking loans and then they are put at a disadvantage. Also education is supposed to be based on merit, were students who worked hard and get the grades are able to attend university not about who can financially afford to attend. If higher education was made free at the expense at both the tax payers and other government services being reduced and smaller payments being made by students will increase the demand and more people would be willing to go to university. However this would be inappropriate to do as the government are unable to meet the demand. Going to higher education increases the student market value and also their salary. Therefore the students should pay from some sort of payment for the education as they are receiving benefits from it. However the amount the pay back should not be too high that it should be difficult for them to pay it back even with the higher value. This is why a part government and part student payment of fees should be implemented as it is the most beneficial waay of higher education. ...read more.

Conclusion

The idea of no tuition fee for the students will encourage more students to go through college and continue to university. On the other hand some argue by making higher education free the importance of a degree is no longer and the motivation of the students is minimal. In conclusion we shouldn't have a free higher education; however it should be a small amount which can be afforded by the students. I believe a proportion should be paid by the government through taxes and decreases in their expenditure on other services such as nuclear weapons or the army. Student should still pay an amount in order to stop other students who will be attending but not actually working, and the rest can be paid through the taxes which will be also come of those who go into higher education .students will then start jobs with higher pay and therefore will be paying higher taxes as they are higher in the tax brackets. Sources These are the website I have used in order to create this essay. 1. http://www.london-student.net/2009/01/19/education-should-be-free/ 2. http://www.economicshelp.org/2007/10/how-should-higher-education-be-funded.html 3. http://tutor2u.net/economics/gcse/images/demand_supply_excess_demand_increase.gif 4. http://tutor2u.net/economics/gcse/images/demand_supply_excess_demand_increase.gif 5. http://uk.answers.yahoo.com/question/index?qid=20100106104903AANKmSE 6. http://news.bbc.co.uk/1/hi/education/2337183.stm Text Books These are the books that have helped me with the essay. 1. Economics for Business Fourth Edition by John Sloman and Kevin Hinde 2. The cost of free education: schools and low income families By Judith O'Neill, Janet Paterson pages 2, 76 3. Financing higher education: answers from the UK By Nicholas Barr, Iain Crawford ?? ?? ?? ?? Should higher education be free by hana ali Student id w1225228 Economics Page 1 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Applied Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related University Degree Applied Economics essays

  1. Marked by a teacher

    Elasticity of demand

    3 star(s)

    Most modes of public transport are inelastic because anyone using it usually does so because they don't have the funds to pay for there own private transport and the government should take advantage of this. b) Since the 1950's the United Kingdom has moved away from public transport and more towards the use of private transport.

  2. British Grocery Market-market structurre, supply & demand curves & economies of scale

    This means that when the companies produce identical goods/services, the competition is limited to the price factor. That is why oligopolistic companies are interdependent. Anderton (2006) specifies that The actions of one large company will directly affect another company. In oligopoly structure, ,if one large firm decides to pursue policies

  1. Show carefully how a market demand curve can be derived from individuals' indifference maps ...

    But why is the income effect so large for a Giffen good? By reducing the price of good 1 purchasing power is increased, whilst money income is kept constant. In the case of the Giffen good the consumer uses the extra purchasing power to decrease his consumption of good 1 by increasing his consumption of good 2!

  2. The dotcom bubble and the stock market fall in 2000-2001

    It would be interesting to mention that financial bubbles have existed for centuries and one of the earliest crises of the type in known as the Dutch tulip mania. In the 17th century prices for tulip bulbs rose and finally reached extraordinarily high levels and then collapsed in the blink of an eye.

  1. Environmental Cost & Benefit Analysis of Haulbowline Island Waste Site

    However, as we have already discussed in the Assignment II, the approach that CBA and economic planning take into consideration when dealing with the environmental issues is extremely monetary beyond our capacity to estimate the value of environmental goods and services (UNEP 2010; Heinzerling and Ackerman 2002).

  2. Economics Questions on Entrepreneurs, Equilibrium Pricing. Markets and the Labour Supply Curve.

    The substitution effect will push the consumer/purchaser one way and the perverse real income effect will push them in the other way, which may result to a no demand response. D: Scheme 1. Price ceilings which are set up by installing regulations which are designed to guard individuals with lower

  1. BAfter the Berlin wall came down movement between East and West became possible. What ...

    However, in reality because the market is perfectly competitive the Eastern drivers may not charge a higher fare, and supply may only increase because the demand has increased, so a new equilibrium needs to be set. This can be shown on the following diagram: This diagram shows how in the long term the quantity demanded for Western drivers (D(West))

  2. Outline and discuss recent (1999-present) trends in the size of government and the composition ...

    Real value added: industry Annual growth % -4.1 0.8 1.1 4.7 -0.1 2.9 -0.0 .. Real value added: services Annual growth % 2.6 1.5 2.8 3.3 3.9 3.1 2.8 .. Government deficits and debt Government deficit % of GDP -0.6 -4.0 -5.0 -4.4 -3.3 -2.2 -2.8 -6.5 General government debt

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work