Some of my work colleagues and I were discussing higher education and the cost of getting a degree.
I like to view what Milton Friedman has to say about the subject. The question Dr. Friedman puts forth is “Whether or not Higher Education Subsidies are justifiable activities of the government?” The argument that Dr. Friedman puts forth is that by having a federal government subsidize education you are taking the taxes of lower income people and then using those funds to benefit the people that are typically of higher income families.
According to Pew Social and Demographic Trends in 2012 estimated that 31% of American adults ages 25 and older have bachelors degrees compared to 1971 where only 12% of adults had attained a bachelors degree.
According to the Pew Research of Social and Demographic trends the biggest increase in borrowing has been among more affluent student.
Here is a quick look at the numbers of where I went to school. As an African American male in 2012 there were about 558 AA male Students enrolled in the spring session. There were 917 AA women enrolled at the University of Central Oklahoma. The Total Student Population was 15,832. Within the same year the graduation rate in 4yrs would have been 12% 6 years 36% and 41% in 8 years.
|AA enrollees and graduates in 2012 UCO|
|Enrollees||4yrs grad||6 yrs grad||8 yrs grad|
According to the American Counsel of Education found that in 2007 – 2008 the individuals who earned their baccalaureate degrees in 2007- 2008 were not nearly as racially diverse as the overall undergraduate student body. The graduates were largely unmarried, childless, white young adults in their early 20’s who were financially dependent on their parents and who seamlessly moved along paths toward degree attainment.
What I find interesting is that in the height of political talks there are people that are claiming that the GOP are doing damage to the country and are failing in the case of where I am from I see outcry against Mary Fallin. She proposes cutting 25% of the state income tax as a result would reduce the education funding. I wonder why? Why is it that if she reduces the expenditures towards education she is failing the state as some of my peers would say? My question is what can be done to increase the number of AA University graduates. Continuing to push for more funding is just going to inflate the cost of education.
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