The true power of the tuition-free community college plan announced by Boston Mayor Marty Walsh lies not in the nominal financial relief it will provide but rather in its symbolism.

Tuition costs at community colleges typically represent only a part of the true cost of attendance, so the Tuition Free Plan will be a start when it comes to meeting students’ financial need. But more important than the money, the Tuition Free Plan sends a critical signal to Boston students.

First, higher education is worthwhile, accessible, and affordable. Despite the very real consternation over student debt, higher education is still one of the best investments an individual can make. Studies have shown repeatedly that those who hold any kind of post-secondary degree enjoy higher earnings and lower unemployment rates, lead healthier lives and are more civically engaged.

Second, the Tuition Free Plan underscores the value of community colleges. Here in Massachusetts, our bevy of excellent private and public four-year institutions tend to steal the spotlight, but we shouldn’t forget that community colleges are the backbone of the US higher education system. Serving 45 percent of all US undergraduates, these open access institutions help a diverse population pursue their education dreams, and help prepare students for the 21st century workforce. In fact, nearly 30 percent of Americans with associate’s degrees now make more than those with bachelor’s degrees.

Lastly, the Tuition Free Plan sends a strong message that the city of Boston is committed to investing in higher education as a broader public good. Historically, the United States has fostered the education of our citizens. The first thing the Pilgrims did after they took care of hearth and home was to build a college. The founding fathers believed that “an educated citizenry is a vital requisite for our survival as a free people.” In the 19th century, we were one of the first nations to create a system of compulsory education through high school and a network of publically funded, state universities. We awarded our returning veterans after WWII with college degrees, helping create the modern middle class. Lyndon Johnson’s Great Society made sure anyone could afford a higher education regardless of their economic background.

But over the past 40 years, our national policies have marched inexorably closer toward higher education as a purely “private good” and as a result, more and more higher education consumers bear the bulk of costs. Between 1990 and 2009, state governments decreased funding for public higher education by an average of 26 percent. According to the Young Invincibles, a national organization working to engage young adults on issues, higher education made up just 10 percent of the Massachusetts budget in 2014, less than the national average.

The good news is that the tide is turning. On the national front, presidential hopefuls Hillary Clinton and Bernie Sanders have incorporated debt-free or tuition-free college into their platforms. Meanwhile, sparked by grassroots efforts at the state level such as Tennessee’s Promise program, President Obama recently expanded his America’s Promise plan for national free community college with a $100 million competition to encourage more states and communities to work toward tuition-free community college. And it’s not just governments who are ponying up: The W. E. Upjohn Institute for Employment Research estimates there are currently about 80 local promise-type programs across the country, many of which incorporate some level of private funding. Foundations and businesses from Arkansas to Michigan, from Pittsburgh to Los Angeles, are stepping up to the plate to ensure greater college affordability.

Closer to home, it’s a positive development that Massachusetts spending on education may be on the rise. As the undisputed seat of higher education in the country, though, we should be a leader in making education a priority and forming the public-private partnerships that unlock education dreams and help students everywhere realize their potential. Innovative ideas such as a proposal sitting before the Massachusetts Legislature, to provide businesses with tax incentives to assist employees with student loan repayment, can lead the way.

Boston’s Tuition Free Plan will help a little in the cost of community college. But it’s real value is sparking an important conversation about the importance of higher education to our state’s economic health and societal well-being — and the role we all must play in lifting up our students and, by extension, ourselves.

John Zurick is the president of SALT and executive vice president of American Student Assistance, a nonprofit with 50-plus years of experience helping millions of students make better decisions about paying for and paying back the cost of their education. SALT is ASA’s financial education program, designed to empower college students and alumni to confidently approach, manage, and pay back their student loans while gaining financial skills for life.