Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
significance of rising college tuition
positive and negative effect of tuition fee
effects of rising cost of college tuition
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: significance of rising college tuition
Introduction
The current student loan issue is a complex crisis with multiple culprits as well as victims. For one, academic institutions in and of itself cannot deny their responsibility for instigating the crisis. For example, when was the last time, at least in recent years, that anyone heard of a university actually lowering their tuition fees? In reality, year after year the trend has been for universities to increase rates. In fact, according to Larry Abramson of NPR, “tuition and other costs have been going up faster than inflation, and family incomes can’t keep up" (2012). Despite the outrage over this problem, there is also little indication that these costs will drop anytime in the near future. Universities justify raising tuition rates for the purpose of advancing their academic standards, expanding library collections, or making more computer labs. However, students struggle to justify their university spending money frivolously on non-academic projects such as extravagant recreation centers or beautifying student unions while subsequently raising fees on students to pay for the costs incurred.
Furthermore, academic institutions are not being socially responsible as they set up freshman undergraduates for financial failure by enabling credit card companies to peruse borrowers on campus grounds. Credit card companies entice students to enroll in their credit program with the use of free pizza or t-shirts for the exchange of putting their personal credit on the line. Although it is up to the student to read the fine print of the terms and conditions, many students do not understand the repercussions of credit card debt. On a related note, banks are part of the problem as well. As a result of stagnant incomes ...
... middle of paper ...
...ans: It Is Not The Interest Rates...It Is The Sticker Price. Retrieved from Forbes.com: http://www.forbes.com/sites/peterjreilly/2012/04/26/news-flash-to-obama-on-student-loans-it-is-not-the-interest-rates-it-is-the-sticker-price/
Reuters. (2012, June 28). Chicago Tribune: Business. No more grace period on student-loan interest. Retrieved August 20, 2012. http://articles.chicagotribune.com/2012-06-28/business/chi-no-more-grace-period-on-student-loans-20120628_1_federal-loans-student-debt-burden-saddle-students
Tkacik, Maureen (2012) “Column: The Student Loan Crisis That Can’t be Gotten Rid Of”
Reuters. Retrieved August 15, 2012. www.reuters.com/article/2012/08/15/us-student-loan-crisis-idUSBRE87E13L20120815
U.S. Department of Education (2010). National Center for Education Statistics. Retrieved August 30, 2012. http://nces.ed.gov/fastfacts/display.asp?id=76.
The U.S. Department of Education. National Center for Education Statistics. 28 Sept. 2000. The U.S. Department of Education. National Center for Education Statistics. 25 Nov. 2000
Recent studies show that the number of individuals who default on their student loans has been steadily increasing as well. Statistics from the Institute for Higher Education Policy (IHEP) show that between 2004 and 2009 only 37% of federal student loan borrowers were able to make uninterrupted payments; it is an annual average of 7.4% (Cunningham, and Kienzl). According to IHEP, for every one borrower who defaulted, two ...
The American Education system needs to check their purpose and refocus students back on the reason for furthering their education. Although, many colleges are known for many amenities and student activities, college students need to focus on the issues at hand and conquer them with knowledge and compassion for humankind. Americans need to realize that student debt is a national crisis, and the best way to make a change is be involved and responsible for every cost during your education career. As a responsible student, know where your tuition money goes and question changes that are going on at school, students pay for the experience they should know what is
Carneval, director of Georgetown University’s Center on Education and the Workforce agrees that going into debt until you’ll be earning more money is the way to pay for your education. “The only thing worse than borrowing is not borrowing and not going to college at all,” stated Patrick M. Callahan, president of the National Center for the Public Policy and Higher Education. Lauren J. Asher, President of the Project on Student Debt group, states that the financial risk has increased. Ms. Asher points out that more students graduate with at least $40k in student-loan debt, “People lose control of their finances, and sometimes they make choices you wish they hadn’t made.” Darla M. Horn, an organizer of the student-loan-debt art show in Long Island City, NY realized she hadn’t been aware of how much money she had borrowed while in college. Referring to herself as financially illiterate, she found herself “just signing the documents and faxing them
To understand the student debt crisis, one must first understand what caused it and what results from it. College undergraduates use student loans to finance the cost of tuition, room, board, transportation, and personal expenses while attending (Gage and Lorin). Student loans are different from other forms of debt because basic consumer rights like bankruptcy protection don’t apply to students who default on their loans. As a result, students are virtually locked into their debt, offering them little to no ability to refinance it. Solutions to debt problems like consolidation are available to students but that process doesn’t involve shopping for a better deal from competing lenders like it does in other debt areas. Therefore, interest rates often remain high and the loans remain with the original lender (Vanegeren). As Kayla Webley expl...
Employers consider a degree necessary for getting a job at their company. However, not many people can afford college. The solution is to take out loans, then college becomes affordable. These loans create a whole different issue, student loan debt. This can affect people their whole lifetime and has been happening for years upon years. But, in the more recent years America is starting to shed more light onto the issue and are becoming curious on why colleges charge twenty five thousand dollars, or more, for a year of education. Many different countries offer free college, but in America student loan debt keeps getting worse.
Today two thirds of college students need to take out loans to pay their tuition. Inflation on college tuition has more t...
According to the Bureau of Labor Statistics, college tuition and relevant fees have increased by 893 percent (“College costs and the CPI”). 893 percent is a very daunting percentage considering that it has surpassed the rise in the costs of Medicare, food, and housing. As America is trying to pull out of a recession, many students are looking for higher education so they can attain a gratified job. However, their vision is being stained by the dreadful rise in college costs. College tuition is rising beyond inflation. Such an immense rise in tuition has many serious implications for students; for example, fewer students are attending private colleges, fewer students are staying enrolled in college, and fewer students are working in the fields in which they majored in.
It is a norm and expectation in society today for students to pursue higher education after graduating from high school. College tuition is on the rise, and a lot of students have difficulty paying for their tuitions. To pay for their tuitions, most students have to take out loans and at the end of four years, those students end up in debt. Student loan debts are at an all time high with so many people graduating from college, and having difficulties finding jobs in their career fields, so they have difficulties paying off their student loans and, they also don’t have a full understanding of the term of the loans and their options if they are unable to repay.
Pisani, Joseph. “A Guide to Student Loan Forgiveness and Repayment Options.” Huffington Post. 26 Sept. 2013. Web. 21 Feb. 2015.
That is five thousand dollars more than previously. Five thousand in only four years, mind boggling. If a student wanted to pay off that amount in ten years, it would be $167.36 a month, versus in 2012 it would have been $116.05. Many students and their families live paycheck to paycheck, and they do not have that money to spare each month. The increase in price will hurt more than it would help.
Reed, Matthew et. al., “Student Debt and Class 2010” Project on Student Debt. The Institute for College Access and Success. Nov. 2011. Web. 12 Nov. 2011
Vedder explains that universities in general believe that they can raise the price of tuition because due to the increasing amount of government aid to education, most notably student loans, the families haven’t been too concerned with the rising cost of education. He claims that there is a vicious circle in regards to university financing. In the first year, the tuition would be increased and to deal with the political pressure that comes with it, Congress makes student loans more accessible and affordable. As a result of this, the demand for education becomes greater and as such, the colleges are then able to raise prices again which would result in more political pressure and thus, more affordable loans. In order to deal with this growing problem, Vedder believes that the best way to do that would be to simply stop allowing these third parties to give more money when the tuition increases. By doing this, it would make the student more aware of the price of tuition, thus not as likely to enroll at a university with a relatively high cost of tuition.
United States Department of Education, National Center for Education Statistics. (2004). The condition of education 2004. Washington, DC: United States Government Printing Office.
“Student loans can turn what should be a blessing—an education—into a burden” (Dave Ramsey). Student loans can cause many graduating students to feel lost and helpless because they have so much debt after graduating. Because of student loans, college students think they can just get through college and pay the loans off easily after they graduate since they will be making money. However, sometimes it isn’t that easy. You can graduate college without taking out one single loan!