Increasing the quality of education and ensuring education is accessible to all plays a crucial role in achieving socio-economic benefits. A quality education liberates the individual, who in turn, creates an equalizer within the society. Unfortunately, the current education system is characterized by high levels of inequality. For instance, the cost of MBA has risen sharply, and so it is affordable only to the rich.
While education is required to ensure socio-economic inequality, some serious challenges need to be addressed. This post highlights some of the challenges within the education sector. If the government addressed these issues, we will be in the right path towards ensuring education for all, and hence eliminating the socio-economic inequalities.
1. The Rising Cost of Education
Good-quality education for all can be a powerful engine for addressing socio-economic inequalities. However, the rising cost of MBA and other higher education courses continues to widen the gap. The cost of a university degree has risen at a higher rate than the national inflation. Consequently, the high cost locks students from poor backgrounds out of the colleges. One of the reasons for increased college tuition fees is the declining public funds. Therefore, families are left with an insurmountable student loan, or they are unable to send their sons or daughters to the college. The impact is so high among the low-income students.
The government can take the cost of a good education away from the families. This can create an immediate impact on the income gap between the rich and poor, as the cash benefit is proportionate far greater for families on lower incomes. With equal access to quality education, the society can enjoy reduced socio-economic inequalities.
2. Addressing Inequalities in the Education system
Achieving socio-economic inequalities will remain a dream far from achieving, unless there are measures to address the current inequalities in terms of ensuring accessible higher education. We have heard of serious racial discrimination while enrolling students to join higher education in some universities. Besides, student’s fee is based on nationality, forcing some to pay exorbitant fee to acquire the precious commodity called higher education. The government should come up with legislation that protects racial discrimination at colleges and universities. Such legislation will ensure accessible higher education opportunities for all eligible students. Therefore, to handle the socio-economic inequality, governments should make higher education accessible to all.
3. Democratizing Education
Democratization of education focuses on ensuring an equal playing ground for all students. The current government should focus on providing free tuition for all students who qualify to join a university. Besides there should be legislation that prohibits private and public universities from over-charging their students at enrollment through to graduation. That way, we can achieve education democratization, which is an important factor.
Conclusion
Education plays an important role in ensuring economic and social stability. However, the education should be affordable to all. This begins with protecting the students from high cost of MBA, and working towards democratization of education.
- Darrick Hamilton and Naomi Zewde,(2020), Promote economic and racial justice: Eliminate student loan debt and establish a right to higher education across the United States. Equitable Growth
- Allan Akhtar, (2019)7 countries where higher education is free. Business Insider