Wednesday, July 8, 2015. Today Congress introduced a bill that would make two years of college free, helping students earn the first half of their bachelor’s degree and skills they need in the work place.
The bill will also make critical investments in helping more students get access to a four-year college degree at significantly reduced tuition at Historically Black Colleges and Universities (HBCUs), as well as, other Minority-Serving Institutions (MRIs).
A few adjustments will need to implemented for this program to work. They include community colleges strengthening the quality of their programs, states committing to invest in higher education and training, and students taking responsibility for their education by staying on track to graduate. If all 50 states implement this proposal, it could save students at the community college level, where it is a crucial step for many students to achieve a higher education, roughly $3,800 in tuition cost per year.
The Hamilton Project analyzed the earning potential of college graduates from all majors and found that median earnings of a graduate with a bachelor’s degree or higher compared to a high school graduate were significantly higher.
Over the course of an entire career, the typical bachelor’s degree graduate earned $1.9million, twice that of a high school graduate. It is important to note that not all majors yield the same earnings and variations occur within majors, but most graduates with a college degree earn far more than high school graduates and have greater job stability even through recession type economies.