1/13/2015
By Charles Payne, CEO & Principal Analyst

President Obama posted a video in a social media network from Air Force One, touting a new program to make community colleges free for the first two years.

The federal government (75%) and state governments (25%) would cover tuition.

I have and will continue to cover the topic of education in my commentaries, because it is the first step to making money, and changing one’s life to a kind of economic freedom that is sweet and worthwhile.

Numbers do not lie: look at how dramatically one’s average lifetime earnings can increase based on education levels:

Here’s the rub. The community college route could be ten times less expensive than the private school route, yet arduous in other ways.

Not only does it take longer to attain a four- year degree, there is a sizable attrition rate.

Organizations that actually work with underprivileged youth for higher education actually frown upon the community college route.

“If the intention is to change the economic trajectory of Breakthrough students (i.e., end the cycle of poverty), then having Breakthrough students begin their post‐secondary educations at four‐year colleges is the best way to ensure they complete their bachelor’s degrees.”

-Breakthrough Collaborative

Buying Votes?

These kinds of proposals always seem to come around just ahead of the state of the union or election time. Is President Obama just buying votes? Under President Bush, student loans climbed 76%; under Obama, 463%; close to a trillion dollars… is this just a political gimmick for the youth vote?

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Charles Payne
Wall Street Strategies

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