Way to Pay for College With Dividends - Essay Example

? Number] Analysing Argument - A Way to Pay for College, With Dividends The article A Way to Pay for College, With Dividends was written by David Bornstein in June 2011. The article deals with the issue of finance management and intends to provide some guidelines for the students pursuing their degrees in social science. The author point out towards certain options available for the students to manage the finance for their studies. The article basically strives to provide some solution to the problem of getting finance for the higher education. In the article, the author includes different possibilities that could work to generate finance for students’ higher education and discuss the pros and corns of each of the described method. The article is based upon the argument of proving the benefits of human capital contract as the more suitable and appropriate source of study finance that is beneficial for the students as well as for the entire society and labour market. The author has impressively described the pros and cons of several ways of arranging the higher studies finance and has persuasively concluded that the human capital contracts are the most expedient and equitable way for the students to manage finance for their higher education. The author has included the experience of some students who have availed different options for securing the finance for their higher education. In the light of the experiences of these people the author insists that the most suitable, fair and supportive mode of college finance is human capital contract that needs to be further refines and elaborates to provide students will freedom of choice about their professional careers. He also highlight the disadvantages and problems associated with the other modes of higher education finance and argues that the comparison of all the possibilities unveils that human capital contract is the best options among all the choices and schemes available and implemented for providing the finance for the higher education to the students. The article explains that the choice of getting study finance through the "human capital contract" appears to be helpful resource for finance for the low income students of US, Mexico and Colombia etc. The author compares this option with certain other possibilities of getting finance. He also talks about the income based repayment introduced by US government and criticizes the finance schemes like income based repayment. He argues that in these methods the students are bound to repay the loans once they finish their education. This liability limits their freedom and they have little options in front of them to initiate their careers and rather spending time in the job of their choice, they are compelled to work for the corporations from where they could earn enough to pay their loans. The author argues that human capital contracts have more options and freedoms for the students and that rather than becoming slaves they could make free choice for their working careers. He shares his opinion “with human capital contracts, students would have wider options. They would know that, regardless of their career choices, their payments would not be unmanageable”. The author answers the people concerns and criticism regarding the market based mechanism of financing and their demands for the free college financed by the government. The author explains that it is not realistic approach to expect that the government should get enough from the taxes to build the free college for the students because usually the government fail to collect the desired amount of taxes from the citizens. He stresses upon this opinion by explaining that expecting government to provide education finance will cause heavy tax burden on all the citizens that will eventually added to the problems of the people rather facilitating them. The article presents the author’s viewpoint that if the government will take the initiative to provide free college education it will result in the imposition of heavy taxes and then the people will widely criticize and condemns this act of the governments. In this situation also, the option of human capital contract looks more suitable and workable because it leaves acceptable degree of freedom to the students. Hence, the main point of discussion in the article in the relative advantages of human capital contract that appears to me more flexible and fair for the students. The author basically wants the readers to assume that the human capital contract is the more suitable and better option for higher education finance. In order to prove his instance, he also answers the questions, criticism and concern of the people related with this option and insists that all the weaknesses of this system could be easily worked out and one could end up with a better source of finance by following the human capital contract option for study finance. He also makes the readers think about the disadvantages of other sources of getting finance for the higher education. He explains that the other methods not only enslaved the students by imposing high repayment liability upon them but also put pressure upon them to look for high paid jobs that could enable them to repay their loans. The author shares his views that the freedom for choosing the job is very important for the students. The finance system must not work in a manner that the students will feel their selves under great pressure of repaying the taxes. Under these conditions many of the career fields will not get the attention of the students because they will tend to look at the high paid jobs only. This will create misbalance in the labour market because the students will run for jobs in high paid sectors only. The social service sector would be neglected and the entire society will bear the consequences of this trend. The overall argument of the author made in the article seems very logical and reasonable because the author has properly addressed the concerns and questions of the people about the benefits and problems associated with each source of higher education finance. He has used real time examples and experiences of some people to supported his argument with the help of logical evidences and some real life examples of the students and experts of the field to show the overall perception of the people regarding different finance resources. The argument presented in the article is well supported and well-presented with the help of some real life examples that provide evidence about the pros and cons of different finance options and convinces the readers to think about the benefits of the human capital contract. The article makes the readers believe that the human capital contract is the best option for study finance that does not limits the career choices and puts no pressure upon them. The source of finance also supports the inclusion of the students in different career fields as well as social services that ultimately could benefit the entire society. The author insists upon his stance and supports his arguments in favour of the human capital contracts by stating that the “Human capital contracts can be used to fund many socially valuable pursuits, but they are not suitable to fund careers that are difficult to justify on economic terms. For example, a student who wants to study international development and then spend five years working in an African village would need to find other sources of financing.” In the article, the author also raises some very important points regarding the problems associated with the study finance options like income based repayment and free college financed by the public taxes. I totally agree with the author regarding the problems with these finance system. I have also observed people experiencing the problems identified in the article and the article makes me assure the long term disadvantages of continuing these plans of high education finance. The argument presented in the article is highly convincing and compelling because the real life examples and experiences included in the article allow understanding the problems associated with different financing options. It makes me believe upon the benefits of the human capital contracts for the students and the society. I also support the same idea as presented in the article and affirm that other finance options are not suitable for the students because they put pressure and long term liabilities upon the student. The entire discussion could be sum up with the conclusion that article is an informative account of information regarding different ways of high education financing. The article explains in details the benefits and problems associated with different financing options for higher level studies. The article throws lights upon the negative and positive sides of different finance options and has convincingly made the people believe that the human capital contract is the best option for the students. The article makes the readers understand the problems and benefits associated with the common sources of college finance and enable them understanding the benefits of the human capital contracts. The author has convened the readers towards this standpoint and provides certain evidences in support of his argument. Work Cited David Bornste. “A Way to Pay for College, With Dividends”, The New York Times Opinion Pages, June 2, 2011. Print. Retrieved online from: http://opinionator.blogs.nytimes.com/2011/06/02/a-way-to-pay-for-college-with-dividends/?ref=opinion Read More