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Essays on student debt
Student debt introduction
Controversies on rising college tuition
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During the 1950's the cost of gas in the U.S. was approximately 30 cents per gallon. According to EIA’s weekly survey, in 2008 the U.S. highest monthly average cost of gas was $4.43 per gallon. (U.S. Energy Information Administration). Subsequently, gas is not the only item that has accelerated in cost due to inflation. As the economy continues to downfall and inflation continues to rise, the cost for many valued goods and services have also escalated. College tuition, a common expense for many families has skyrocketed. “Over the past two decades, they’ve risen roughly twice as fast as inflation” (Vogelstein & Toch 68+). Due to rapid college financial increases, families have been reevaluating the benefits of college before spending thousands …show more content…
This abrupt career decision is made without proper guidance and foresight, which results in students working toward a degree that they are not interested in pursuing or they drop out of college. College professors said: “I find my colleagues around the country deeply concerned about students assuming vast debt burdens and about those parents who respond to the financial pressure by urging their children to make career decisions at just the wrong stage in their development” (McPherson). Students are too young and uninformed to be making crucial decisions about their future alone. In order for students to succeed after college with the littlest amount of debt possible and a profession that they enjoy, they need to have a precise path to follow while obtaining an education. Having a plan and guidance allows students to determine the pros and cons of each field of study and the opportunities that are available. This instruction guides students to obtain a degree that offers a variety of stable jobs. Therefore, this process is an efficient way to help eliminate unemployment, and massive amounts of debt for college graduates. Many students assume that by going to college they will come out with a bachelors degree. Without having the navigation skills to pursue a degree, students will fall flat. According to a study by Avery and Turner “Of everyone who enters college expecting to get a bachelor’s degree, more than half leave with no degree and average of $7,413 in debt” (Haltom 14). This problem occurs because students don’t have any specific person guiding them to make sure they reach their goals. Before college, students would depend on their parents to keep them on track and get things done, but now they are forced to manage themselves. Therefore, if students had someone overseeing their progress and
These days, colleges are seemingly endless money pits. Did you know that in 1970 at a public university, tuition on average was only $2,710? Today, we could only dream of it being so low. Once you start looking at the actual average prices of attending a college or a university, you start to think it’s a joke with how expensive it is. It’s definitely no joke. The annual cost for undergraduate tuition, room and board is estimated to be $12,804 at public institutions and $32,184 at private institutions for the 2010 academic year, according to the U.S. Department of Education’s National Center for Education Statistics. That means that even a modest education—a bachelor’s degree from a public university or college—will cost at least $50,000. You can find cheaper colleges for example if you attended a community college, but many of those you cannot get more than a two year degree with. There are also colleges with pr...
As the economy evolves and the job market continues to get more competitive, it’s becoming harder to have a successful career without some kind of college degree. This creates a belief in many young students that college actually is a commodity, something they must have in order to have a good life. There’s many different factors that influence this mindset, high schools must push the importance of the student’s willingness and drive to further their education. College isn’t just a gateway to jobs, but it is an opportunity to increase knowledge and stretch and challenge the student which in return makes them a more rounded adult and provides them with skills they might lack prior to
Imagine only paying for transportation, meals, supplies, room, board for college, and small college fees. This is exactly what other countries like Germany and Sweden are doing. Instead of having students pay an enormous amount for their education, these countries only require an individual to pay for their own basic needs with a small tuition fee as well. It is no surprise that students from the U.S are traveling overseas to get these benefits. In the meantime, colleges in the U.S have only become more expensive each year, and it’s greatly affecting graduating high school students since each student has to find a way to pay for his or her college tuition. The college graduates are then affected because they have to pay for the outrageous debt
Steve Cohen shows the disparity between the rising cost of college and a family’s capability to afford it. Cohen explains “Tuition has risen almost 1,200 percent in the last 35 years, and the sticker price for many four-year private colleges and out-of-state public universities exceeds $250,000.” Moreover, he goes on to say that even at public universities, it is about $80,000 for four years for tuition and other college related expenses. Later in his article, Cohen explains how this leaves middle-class families in a very uncomfortable situation. The parents or other money-making entities in the household want their student to go to college and earn a degree, but now there can be an element of stress in figuring out how the fees will be paid for. Furth...
This research paper will examine two articles related to the costs of college. Article 1, titled The Cost of College: Yesterday, Today, and Tomorrow, discusses the cost of college over the past few years. It looks at the rising cost of education, and it compares that to society’s general inflation and health care costs. It continues by looking at the costs for an in-state, out-of-state, and private university student. It also takes a quick look at how Bernie Sanders’ plan to make college free would either upset most Americans or bankrupt the entire government. Article 2, titled A Game to Help Students Pay the Right Price for College, discusses a free, interactive, web-based game called Payback. It also goes into the life of Mr. Time Ranzetta,
A college education has become the expectation for most youth in the United States. Children need a college education to succeed in the global economy. Unfortunately for the majority of Americans the price of an education has become the equivalent to a small house. The steep tuition of a college education has made it an intimidating financial hurdle for middle class families. In 1986-1987 school year the average tuition at a private university was $20,566 (adjusted to 2011 dollars) while in 2011 the average cost was $28,500 for an increase of 38.6%. Similarly in public universities there has been an increase in tuition: in the 1986-1987 school year the average tuition at a public university was $8,454 (adjusted to 2011 dollars) while in 2011 the average cost was actually $20,770 for an increase of 145.7%. Most families who are able to save for college try to do so, therefore their children are not left with large amounts of debt due to loans. Nevertheless, families are only able to save on average around $10,000, which is not enough to pay for a full educ...
College is not so much a promise of success as it is a chance at success. Young adults should not feel like college is the best and only option for them. Robert Reich emphasizes this idea in his writing, stating “Last year, according to the Federal Reserve Bank of New York, 46 percent of recent college graduates were in jobs that don’t even require a college degree.” For a lot of people, college can be a really bad investment, and although more and more jobs do require a degree there are many jobs that don’t. Even after getting a degree many people find that they are working in a job that has nothing to do with their field of study. Also, Collge is not something that is for everyone, but working is Len Penzo stated “There are plenty of relatively well-paying jobs available that don’t require a college degree. According to US Labor Department projections, 63% of all new jobs that will be created between now and 2020 won’t require a college degree.” For the last few decades, college degrees have served as a guarantee for easy access to a middle-class life. But the middle class is on the decline. Although the necessity of having a college degree continues to rise in our society, there are also many new and innovative ways for people to find a way to make a living without a college degree. Those who have been putting their trust in the old system are finding themselves with nowhere to climb. Finally, college just simply is not something everyone can handle Penzo also stated that “Not everybody is college material. If they were, 54% of all Americans who enroll in college wouldn’t eventually become dropouts. Look, college is hard enough for those who are motivated; for people attending who don’t really want to be there, it’s almost impossible.” The idea that every young person needs to go college is wrong. College can be a pathway to success, but it can also be a waste of time and
Over the last few decades, college tuitions and fees have increased by over one thousand percent, surpassing every category associated with the cost of living including food and medical. This unprecedented rise in cost has resulted in an avalanche of issues for young and middle-age adults. As, a result of steep student loan amounts, graduates are being forced to move back with their parents, fewer young people are becoming homeowners, they are delaying retirement saving, and are dropping out of college at an alarming rate of nearly fifty percent. With all the controversy surrounding the topic of increasing college cost, the revised income-driven repayment program has been created to help borrowers pay back student loans according to their income.
Bernie Sanders said “The cost of college education today is so high that many young people are giving up their dream of going to college, while many others are graduating deeply in debt”. This statement is a great representation of the way many students feel entering college. Furthering your education is something that an individual must work for, however it should not leave a person in debt for life.
In 1975, Caroline Bird’s “College Is a Waste of Time and Money” describes why college degrees cannot buy you five years in the work force. Bird’s essay heavily describes the emotional struts these students encounter while attending college, and the anguish of dreadful classes which seem irrelevant to your actual desired occupation. High school students are inevitably being pushed to believe that college is a fundamental difference between working a desk job making $80,000 a year, and working a minimum wage job the rest of your life. Many college students are finding out that your twenty-thousand dollar degree won’t land you your dream job. Although some may advocate that college is the proven method to a successful career path, the majority of people that attend college are setting themselves up for failure with barricades like loans, low graduation rate, lack of experiences, and career success rate after receiving a degree.
When higher education receives less funding, this discourages students from pursuing a career. Most, if not all students, want the best for
Some people decided to take education to learn more about other academic courses that they needed with their uncertain future. They also have limited support from college such as financial aid but not enough for every student. “ Graduating from a local college with the help of Pell Grants and a lot of debt. She can’t imagine her life without higher education, but as a non-tenure track academic in a tough job market, she has limited job security and she owns more than $800 a month in student-loan payments.” (Hopper 206-207). From Briallen, she had experienced with some tough decisions on going to college with her educational degrees, having financial aid to support to go to a selective four-year college, and getting a job in a tough job market in this world. From learning through the argument from both Hopper sister (Briallen and Johanna), purchasing college degrees will allow students like us can get a higher standard in education to get better opportunities even though they faced their
Most students plan to attend college after graduating high school. Having the college experience is everyone’s dream, especially High School students who are ready to get out into the world and explore all the new things there are out there. College is very important for furthering someone’s career, but no one thinks about all the costs and the stress that comes along with college. Many people only think about the fun and new opportunities they will have but they do not think about how much it costs to have all of this. Tuition fees and costs are increasing more and more each year. Nowadays it feels like you have to be a millionaire just to attend a good college and get a good degree in what someone is attending college for. These costs could
Students and their parents are becoming angry with the rise of tuition and they have every right to this reaction. “In the past 20 years, the cost of tuition has increased twice as fast as the as the overall cost of living. (Larson)” “The price of tuition from 1980 to 1990 increased by
There are over 40 countries that offer tuition- free college. For example, Germany , Finland, France, Sweden, and Norway. Currently in Germany their higher education facilities are completely funded by the public, about 2.4 million students do not pay anything for tuition. (College Access and Affordability: USA vs. the World. (n.d.). Retrieved May 25, 2016, from http://www.valuecolleges.com/collegecosts/). This evidence shows that the German government perceived that higher education costs were holding back their students from attending, so the German government made it easier for them to attend. There are many young adults from the United States that have said no to American higher education costs and have moved to Europe to attend colleges