No-one should be put off going to university for financial reasons (£60k)

[Aeson]

Yes, I oppose providing a subsidy to people who form less human capital in college too.
...
I agree, student loans should be freely available.

How is that not a subsidy? The same people who you don't want to subsidize are going to be the ones who cannot pay back the loan, yet you're still giving them the money.

[DaShi]

The Chinese heavily subsidize education. In fact, it has been an important component to several of their successes in many industries.

[Aeson]

As for forming human capital in college. A bachelors degree is worth $900k more than a high school diploma in lifetime earnings (over 39 years). The average 4 year cost of college is about $30k. That's a pretty damn good return. But I guess KH and Kuci would rather we spend that $30k on another bomb to drop on poor foreigners or something. Social mobility from "alive" to "dead"

(Because lets be realistic, what else are we going to do with it? Cut taxes and not spend it? )

[DaShi]

Bombing poor people would increase the proportion of rich people.

[giblets]

As for forming human capital in college. A bachelors degree is worth $900k more than a high school diploma in lifetime earnings (over 39 years). The average 4 year cost of college is about $30k. That's a pretty damn good return. But I guess KH and Kuci would rather we spend that $30k on another bomb to drop on poor foreigners or something. Social mobility from "alive" to "dead"

(Because lets be realistic, what else are we going to do with it? Cut taxes and not spend it? )

How do you know a bachelor's degree is worth that much more?

[Aeson]

Google said so

[Kuciwalker]

As for forming human capital in college. A bachelors degree is worth $900k more than a high school diploma in lifetime earnings (over 39 years). The average 4 year cost of college is about $30k. That's a pretty damn good return. But I guess KH and Kuci would rather we spend that $30k on another bomb to drop on poor foreigners or something. Social mobility from "alive" to "dead"

(Because lets be realistic, what else are we going to do with it? Cut taxes and not spend it? )

It is not at all clear the quoted figure is the marginal value of a college degree, rather than the average value.

[Kuciwalker]

The people most likely to stop going to college because of a reduced subsidy are mostly those who earn substantially smaller-than-average returns from the degree.

[giblets]

I don't think it's clear how much of the gap between people with college degrees and high school graduates is because of people who go to college generally being smarter or more willing to work hard.

[Kuciwalker]

Yes, that is another strong reason for #67.

[Aeson]

It's average value. It's also very clear that the marginal value is better than any other use the government is realistically going to put that $30k to.

[Aeson]

The people most likely to stop going to college because of a reduced subsidy are mostly those who earn substantially smaller-than-average returns from the degree.

They are also those who earn substantially smaller than average returns without the degree. And most likely to end up on welfare.

[Aeson]

But if you want to sort through all the numbers to come up with a clear marginal value for a college education, feel free. Until then, I'm secure in the knowledge that the $30k for helping someone go to college has more marginal value than pretty much anything else the government is going to do with it. (Including handing the same person $30k, or 3 million people a penny.)

[Kuciwalker]

They are also those who earn substantially smaller than average returns without the degree. And most likely to end up on welfare.

This is a logically incoherent response.

[Kuciwalker]

It's average value. It's also very clear that the marginal value is better than any other use the government is realistically going to put that $30k to.

No, the data absolutely do not admit that conclusion with any certainty.

In addition, there is every reason to believe a priori that the market is OVER-supplied. This is a subsidized, competitive market with essentially no consumer liquidity contraints.