FREE UNIVERSITY TUITION is an investment that is critical for the future of Barbados. In fact, a university educated citizenry is so important for our country that this should be a priority for how we spend taxpayer dollars.
As an investment, it is reasonable for us to look at the return we will get from such an investment.
1. University-educated people make more money over their lifetimes than non-university people.
As a result of their higher incomes they pay significantly more in taxes.
2. Some of our university-educated people leave home to pursue greater opportunities in other countries. The Barbadians living overseas often support families left at home, easing the burden on the safety net provided out of public funds. These are funds that add to our foreign exchange.
3. University-educated overseas Barbadians tend to save money in Barbados which increases our foreign reserves.
4. University-educated Barbadians often retire in Barbados. They bring home their retirement incomes, providing a nice stream of foreign currency flowing through our economy.
5. Retirees coming home tend to hire companies and individuals to aid in their settling in and lifestyle in Barbados.
6. Higher income people tend to support philanthropic causes for their fellow citizens.
7. University-educated Barbadians tend to have higher cultural and lifestyle standards for all facets of Barbados life. This push not only makes life better for Barbadians but also for visitors to our country. Go to extraordinary lengths to make life good for our people and visitors will enjoy it as well.
It is my belief that reducing support for education and charging increased tuition for higher education is short-sighted, counter-productive, a wrong-headed way of approaching public investment and borrows from our futures.
– RICHARD TERRELONGE
