Morehouse College students who graduated in 2019 are a happy lot as their college debt was wiped clean by Robert F.Smith, the richest black man in America. Also, there are college graduates from other countries who don’t have to worry about their debts as their countries are known for providing generous stipends and affordable tuition during a four year degree. College debt in the United States is building up and young adults are struggling to offset what they owe. At the moment the college debt owed by students is around 1.5 trillion dollars. The New York Times recently carried out a study asking their readers from around the world what they paid for during their college education. The Times received around 800 responses and this came from readers in more than 40 countries. Below are some of the responses from different countries. These countries included the likes of Denmark, Taiwan, Philippines, Ireland as well as Brazil.
According to a recent study, Denmark is said to allocate a total of 1.6 percent of its GDP on post-secondary education. On the other hand, America only allocates 0.9 percent of its GDP on the same. Denmark is also a member of the Organization for Economic Cooperation and Development and this has contributed to low college debts. A student who studied in Denmark wrote that most of her fees were paid for by her taxes. As for books she noted that she paid 500 dollars less compared to what she paid during her study in America. Students living away from their parents in Denmark while pursuing college education receive 900 dollars per month from the government. Students are allowed to work while studying and still receive the support from the government. Students with children receive more money because of the added responsibility.
The Times learnt that students in Ireland get through college by receiving grants from the government that is supposed to pay for college education and living costs. Students in the country receive around 3,000 Euros per year. There is also subsidy for students from the European Union wishing to study in Ireland.
In New Zealand there is a policy that was introduced by the Labor Party under the country’s Prime Minister Jacinda Ardern.The policy ensures that students pursuing postsecondary education don’t pay any tuition for their first year. Philippines has subsidized tuition fees through the introduction of the Universal Access to Quality Tertiary Education Act by President Rodrigo Duterte.