The high rising costs for higher education is a pressing issue for government around the world. There are three ways to fund tertiary education and each has it’s own benefit. In this essay I will discuss the benefits of each option and opine one as best method to choose.
There are many benefits of government funding for higher studies. Firstly, if all expenses of university education are paid by government it will be helpful for underprivileged students to carry on their studies. As a consequence, social inequality will be reduced and ensure a skilled workforce. As students don’t need to concern about paying fees they can pay full focus on their academic subjects. It reduces their pressure and stress of doing job and saving money to cover up their educational expenses. Moreover, they can spend their golden times for doing research and experiment as well as personal development that will made them achive better grade and success.
Another way of funding for higher studies is that students have to bear their all costs by themselves or their parents. It has numerous benefits.Such as, for paying tuition fees they need to do jobs, that will be counted as work experience and for getting any high paying job after graduation work experiences really will help. When a student have to pay his tuition fees by his hard earned money, it creates a sence of responsibility, and then the person tries to be more ecnomical while spending.In addition, to make the best use of his money he tries to be full focused on study. That will evantually improve the competition.
The third option in which all costs are being paid by the student by taking loans from government fund that must be repaid after graduation is the best one in my opinion. In Australia and US this kind of process currently being followed successfully. This method helps both privileged and underprivileged students to get the same quality education by government loan assistance. As this loans must be repaid after graduation so it doesn’t create extra burden on government funding. As a result, government can allocate more money on other significant sectors like public health, defence, infrastructure development and so on. If a student can run his tertiary education by taking loans and since there is a opportunity to repaid this loans after completing graduation so he can concentrate fully on study without taking any stress. Also, students don’t need to waste their valuable time in searching for job, hence they can use the time for other productive work. That will not only provide quality education but also ensure competitive applicants for the job market.
To conclude, it can be seen that each of these methods has its pros but the third method in which students pay their costs by taking loans from the government that must be repaid after graduation is the best.