With the rise of artificial intelligence and increasing automation, the job prospects for millions of people and future college graduates look bleak. One of the trending proposals is giving everyone a universal basic income, no matter what their economic statuses or needs are.
American college students stand to benefit from universal basic income. Pilot studies, such as the one done in Ontario, Canada, have it that each individual would earn US $13,000 per year. If earned over a four-year period, American college graduates would have no debt. Young college graduates with student loans are more likely to have a second job, and to report struggling financially . This creates a problem among student where academic results might fall due to financial stress during their studies, leading to lower employability and perhaps at the worse scenario, pressure on welfare programs.
There are many ways that we can all make college life can be a period of productivity gain, rather than a period of stress and burden. Universal basic income, as well as habits such as re-sell and re-use of things. Mijem is a college app connecting students to enable students to buy, sell, ride, ultimately to earn cash and save money. Having effective programs such as universal basic income and solutions to ease financial stress would do all of us good in the long term.