The Dollars and Sense of Free College

The Dollars and Sense of Free College

Federal and State Roles in Free-College Financing

Posted: Oct. 29, 2020
Author(s): Anthony P. Carnevale, Jenna R. Sablan, Artem Gulish, Michael C. Quinn, Gayle Cinquegrani
Organization(s): Georgetown University Center on Education and the Workforce

A national free-college program that covers all students’ tuition could cost $58.2 billion in the first year and would reach a total of $799.7 billion after 10 more years, according to this report. The study measures the costs of three major free-college models, as well as the cost of a plan put forth by President-elect Joe Biden. The report finds that the annual benefits of free college would exceed the annual costs of the program within a decade.