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Student debt and its effect on the economy
Student debt and its effect on the economy
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In the essay, “College Consumerism Run Amok” authored by Kevin Carey describe how colleges are careless with their money. Throughout the essay, Kevin Carey explains why normal people think the average price of college tuition has risen across the United States. People believe college tuition is rising because students demand colleges to have “creature comforts”, such as luxury dorms, a fully operational gym, and a climbing wall. Also, that the creation for “creature comforts” in colleges has caused academic standards to decline. Yet, colleges market to students with these amenities instead of showing students comparable statistics: the quality of teaching, scholarships, and academic environment. Kevin Carey, in the end, sums up his idea with …show more content…
On the other hand, I believe that parents and the students are the one that will create the new standards for colleges to be chosen. Why do I think this way and disagree with Kevin Carey? I disagree with him because business, whether for profit or non-profit, will not change a marketing strategy if they see it is working. Colleges will only change if they see that consumers are changing. Yes, colleges will try to distract consumers with amenities. But, if consumers look for the information they need colleges will give it to them. The reason this works is because students will go to a college that will supply them with their demands, the law of supply and …show more content…
Secondary education rises faster in price than auto insurance. Yet, secondary education is almost required in the United States to succeed. Yes, there are hundreds of people in the United States that have been successful without a college degree, but they are outliers. Students should choose not to go to college based on outliers, but go to college based on the fact thousands have succeeded because of their college degrees. It is more important then ever to know what makes a college great if students are going to pay hundreds of thousands of dollars over four
Introduction: In the essay America’s Most Overrated Product: The Bachelor’s Degree by Marty Nemko argues that attending college does not benefit most students. Many of us grow up believing that going to college is the best option to get good jobs, even if we did not do so well in college. In this essay, we explore statistics presented by Nemko to get a better idea if college is worth the time and money spent on the benefits of having a diploma.
College is marketed towards students as an essential part of building a successful future. The United States “sells college” to those who are willing to buy into the business (Lee 671). With the massive amounts of student debts acquired every year, and the rising costs of
Lankford, Ronald D. "Chapters 2 and 3." The Rising Cost of College. Detroit: Greenhaven, 2009. N. pag. Print.
Every single individual has once heard the words “get good grades, go to a good college and graduate, in order to get a good job and succeed in life.” However, no one can really assure that a student with a degree is going to have a better future than those who do not attend college. Lawrence B. Schlack, a retired superintendent, asserts in his article “Not Going to College is a Viable Option” that college is not the only place to go after graduating from high school. By using different kinds of persuasive techniques the author effectively supports his claim and makes the article an understandable and important tool for both parents and students who believe that college is their mandatory option after high school.
Mark Edmundson’s Essay, On the uses of a liberal education, links a fundamental systemic flaw in post-modern education, a lack of student desire to learn, both about personal and the worldly, through study, education, self betterment, and reflection, with American Consumerism. Edmundson does so by depicting the students as customers; shopping for the easiest, highest ranking, and most “entertaining” return on their investment. However, Edmundson places too high a degree of blame on Millennial Consumerist Culture, rather than examining where this desire for a monetary return on investment stems stems from originally. Edmundson, although fully aware of the cultural dynamic shared amongst many, if not all, paying college students, never raises
Based on Three Reasons College Still Matters, there are three main reasons why a college education is so important. From an economical standpoint, an education is most of the time needed to earn enough money to live comfortably. Attending and completing college provides a possibility for future economic stability. Within a highly competitive workforce a college degree can put a foot in the door to a job of a person’s choice. Statistics show that people who obtain a bachelor’s degree or higher get paid more than those who do not obtain one. Many question the worth of a college degree because of how expensive it is, though some say that the money spent is an investment on a person’s future. One can say that the worth of a college education is within the eye of the beholder. Many q...
Going through college should not be as easy as going through a drive-thru at a fast food restaurant. Young adults should be interactive and critically thinking throughout their education, not disinterested of it. Author Simon Benlow, in his essay “Have It Your Way: Consumerism Invades Education,” believes that students are turning to consumerist ways, not thanks to the college’s culture (139). Since my return to community college, there has been a trend with the younger adults: Not caring.
Everything revolves around money and the economy. Hunter Rawling stated, “Most everyone now evaluates college in purely economic terms, thus reducing it to a commodity like a car or a house.” (Rawling, 2015, paragraph 3) I agree with the author with this quote because I personally think that college is reducing the commodity and also bringing it back up. College is not a commodity, economic value is not all there is to college. “If we were to treat college as a commodity, and an expensive one at that, we should at least grasp the essence of its economic nature.” (Rawling, 2015, paragraph 4) I like this quote because, everyone thinks of commodity as something good. But, really in reality it is not. It makes you think twice and not want to discuss things that are important. The most important thing for
A high school education is no longer sufficient to succeed in America’s increasingly complex economy. However, because of the high price point of a college education, far too many Americans are unable to afford education beyond high school. As shown in the graph below, the higher level of education received greatly increases the chances for employment and also dramatically increases the average salary potential of an individual.
Some students would argue that a college education is not a vital aspect of the future of children because it is too much schooling, costs too much, and it is not needed for their future. First of all, these students have struggled through 13 years of school whether elementary, middle, or high school. They have endured many long days and late nights to pass their classes. Although it is true that 4+ more years of school will be mentally tough and hard to endure, these important years will help shape
At many universities changes are happening every day for students. According to a 1997 article in Harper’s Magazine by Mark Edmundson titled On the Uses of a Liberal Education, universities are changing due to consumerism affecting the education system. A professor of English at the University of Virginia. In the article, Edmundson says his overall point is that the consumer ethos is winning (Edmundson 50).
Throughout the years, America has always debated whether education is needed- if it helps people succeed or not. The argument in the past was always over high school education, which is now mandatory. That decision has helped the US rise economically and industrially. Today, the US is in the middle of the same debate- this time, over college. Some, like David Leonhardt, a columnist for the business section of The New York Times, think a college education creates success in any job. Others, such as Christopher Beha, an author and assistant editor of Harper’s Magazine, believe that some college “education” (like that of for-profit schools) is a waste of time, and can even be harmful to students. Each stance on this argument has truth to it, and there is no simple answer to this rising issue in an ever changing nation full of unique people. Any final decision would affect the United States in all factions- especially economically and socially. However, despite the many arguments against college, there is overwhelming proof that college is good for all students, academically or not.
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.
As colleges’ funds dry up, colleges must turn to the public to further support higher education. By raising state taxes, colleges can collect funds to help improve the school’s budgets. The state provides funds from the taxes for colleges to receive a certain amount for each student currently enrolled. All community and traditional four year colleges collect these funds in order to maintain the school’s budget. As reporter, Eric Kelderman states, “less than a third of colleges’ budget is based from state taxes”. The school’s budget is how colleges are able to provide academic support programs, an affordable intuition, and hire more counselors. Colleges must now depend on state taxes more than ever for public colleges. Without collecting more funds from state taxes, as author, Scott Carlson explains how Mr. Poshard explains to senators “our public universities are moving quickly toward becoming private universities…affordable only to those who have the economic wherewithal to them” (qtd. in.) Public colleges must be affordable to anyone who wishes to attend. If colleges lack to provide this to students, it can affect dropouts, a student’s ability focus, and cause stress. The problem of lack of funding is that colleges have insufficient funds. Therefore, the best possible solution for the problem of lack of funding would be increasing and collecting more funds from state taxes.
Many people dream of finishing college for the possibility of attaining a great career with wonderful wages. Nowadays, however, people are more concerned with the amount of debt they will gain after attending college. This money problem skews people 's opinion of going to college, and they try to avoid being in debt as much as possible. As a result, more people steer away from the college life and enter into the work force without a degree. These people, however, do not understand that the college experience, knowledge, and the degree they gain are worth any amounts of money. College education is priceless.