Redefining College Affordability: Securing America's Future with a Free Two Year College Option

Abstract

For almost fifty years, the federal government has tried to make the American Dream universally accessible by using need-based financial aid to lower the price of attending college. Talented students are forgoing college because of the costs, students who start college are unable to complete because they cannot afford to continue, and even students who finish degrees may not realize all of the expected returns because of sizable debt burdens. This report argues that it is time for the federal government to partner with states, public colleges and universities, and localities and businesses to offer two years of college for free. This report outlines a Free Two Year College Option (F2CO) that can be funded with existing resources, developed to overcome the problems in previous efforts to make college more affordable, and designed to ensure that wider access occurs without reductions in educational quality. ; Lumina Foundation