Some thoughts about educational costs, reform and economics

I have written in earlier posts about the need to change and reform the existing educational system, with its general structure and requirements dating back to the last couple of centuries. With the passage of time, students and learners can generally understand and acquire past, recent, advanced knowledge at a younger and earlier age.

It would be beneficial and advisable to give young learners more possibilities, and allow them to begin their college/university and higher formal education at a younger or lower age.

New, alternative methods of education include academic and education acceleration, skipping grades, homeschooling, online education, e-learning, etc, and possible adequate or coherent combinations of these methods.

A detailed study or analysis of the consequences of such changes or educational reforms on a large scale could be undertaken from a financial perspective or in relation to the economics of education. I will try to provide a short or practical analysis, and provide some considerations on the possible implementation of these changes.

In countries such as Germany and France, institutions of higher education or universities can be public or private. In public universities tuition costs and fees are very low or minimal, they mostly include yearly enrollment fees. In France for example these minimal fees are usually applied in public universities to all students, including international students and students of all countries, who can benefit from the low costs of education.

Many countries or nations on a larger international scale involving all continents could negotiate and agree to implement a reformed educational system where young learners or students are given the opportunity to finish their secondary education and get into the university at a younger age, thus being able to finish their university studies before the end of their teenage years. For example, a young, perceptive, fast learner could undergo or follow an accelerated educational method, process or system (with or without homeschooling), and be able to enter the university at the age of 11 or 12, then finish his or her studies with a master’s degree or a PhD at about the age of 16, 17 or 19.
An additional useful change would be to accompany this educational acceleration with a tuition system similar to the one found in public universities in countries like Germany or France, where students pay low or minimal tuition fees.

As a general remark, students or learners who are able or who are given the possibility to finish their university studies in their teens, instead of having to wait until their twenties or thirties to finish these studies and obtain the same diploma, will have saved considerable time, expenses and costs for themselves and for the community, society or country where they live. Such a refined and reformed education system would help reduce educational costs, and reduce costs, expenditures and fees in relation to the allocation of educational resources, and the allocation and use of facilities and buildings for educational purposes.

Considering for example the case of the educational system in the USA and the related student debt issues, implememting such educational changes and reforms would represent an effective solution to the student debt and student loan problems. Thus students would be able to finish their college and university studies at a younger age, with very insignificant debt or debt-free. Within this new or reformed educational framework, a young person who drops out or leaves the university and the formal education system as a teenager at about the age of 16 or 17 will be able to leave after having obtained and finished a university degree such as an engineering degree, or a master’s or a PhD degree, instead of leaving with only high school qualifications or a high school degree.

An idea I alluded to before is that the changes, progress and advances in knowledge, information and scientific theories should be constantly and regularly accompanied by reassessing, re-evaluating and changing the education system and the methods through which these theories and information are presented, transmitted or taught. I think the considerations or suggestions I presented here represent a significant step in the right direction to implement the suitable reformed, inclusive, affordable, effective and efficient educational system of the future.