Obama's plans for College Tuition

[barcotta]

Create the American Opportunity Tax Credit: Obama and Biden will make college affordable for all Americans by creating a new American Opportunity Tax Credit. This universal and fully refundable credit will ensure that the first $4,000 of a college education is completely free for most Americans, and will cover two-thirds the cost of tuition at the average public college or university and make community college tuition completely free for most students. Recipients of the credit will be required to conduct 100 hours of community service.

Others have expressed this sentiment more eloquently than I am about to, but here's my concern:

Human nature being what it is, it is difficult, and for most people impossible, to value something you have not earned. If you save all your nickels for a year and buy a bicycle--that bicycle has much more value than the one your parents bought for you. The bicycle that was earned is certain to be more greatly appreciated, will be better maintained and protected and, overall, will just have greater meaning. Anyone think I'm wrong?

Now, you might say that you were always appreciative of gifts and valued them--and maybe you were. I promise you that you are the exception to the rule.

You also might say that the education credits are, in fact, "earned" by successfully completing school and completing the community service. Maybe. However, currently people have to cough up big money or go into debt to obtain traditional college degrees--particularly Bachelors and up. So, since they are bearing the costs themselves (now or later) we should expect a good result. People should be motivated to work extra hard and finish, right? If the statistics are to be believed, that's not the case. Graduation rates are laughably low. Are they running out of money? Maybe some are--but I suspect most are running out of patience, desire, discipline and determination. Do you think having the government subsidize higher education to this extent will restore patience, desire, discipline and determination?

Oddly enough (or perhaps not oddly at all), for those careers that require Bachelor's degrees as nothing more than a qualification unrelated to job knowledge or skill, CLEPing and the big 3 really seem to be the the best answer. It's quick--low cost, and, best of all, people actually finish!