It is true that making education universally accessible, regardless of financial implications, is a fundamental pillar of a nation’s complete advancement. Although this approach has some negative ramifications, I completely agree with this point of view for several reasons.
Admittedly, there exist some negative sides to offering free education. Chief among them is perhaps the excessive financial demand. When authorities make education free for all people, they allocate substantial funds, which forces them to raise taxes, increase the national debt, and neglect other crucial areas of development, such as technological advancements or innovation. Consequently, such an approach may limit countries’ competitive edge in the global economy, thus threatening national progress and economic stability. Prime examples of such nations are Greece, Argentina, and Venezuela, where these financial strains have hindered other key sectors of growth.
Despite these apparent downsides, my verdict is clear. If governments extend free educational opportunities, they help individuals from disadvantaged backgrounds gain access to essential skills and knowledge. In other words, such individuals become more qualified in cutting-edge and specialized fields like medicine, information technology (IT), engineering, and astrophysics, which leads to broadened professional opportunities, and they can earn higher incomes as opposed to their previous situation, thereby achieving financial stability and freedom as well as reducing the poverty. In a context where soaring living expenses, poverty, unemployment, and social instability have reached unprecedented levels, subsidizing education entirely takes on added significance in terms of achieving optimal development.
In summary, although making education at no cost raises serious concerns regarding economic equilibrium, I contend that its merits deserve greater attention. Only through granting free education can a nation achieve total growth.