According to the Campaign for America’s Future, “It would cost less for the government to make all public universities tuition-free than what the government already spends on the patchwork of financial aid programs it currently supports.”
According to a recent accounting taken by the U.S. Dept. of Education, the cost of making college free is $62.6 billion. That’s less than one-10th of this year’s $631 billion defense budget.
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You can read more in this article in The Atlantic.