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Negative effects of college student with credit cards
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As hard as it is to imagine, college is one of the largest expenses any given person will have to pay throughout their lives. With tuitions leading an average of 20k annually, it's hard to imagine any student would be able to pay that off, let alone all the hidden fees. This brings up the questions, how come college grade wages are dropping, what all the price tags of college are, and how to overcome these fees. College students wages are dropping, this is a result of an abundance of college graduates.Others choose to ignore this fact, and instead believe that college graduates incomes are still larger than highschool grads. But the evidence can be found when compared to years before. The yearly income of college graduate has actually dropped …show more content…
All of this makes a person wonder once again, is college worth it? College is not just fees for education, it also includes a large number of other fees that you need to know before getting into it.Of course, education will always be worth it, even with all the hidden fees.But they still add up, and college students already have trouble paying for their classes as it is.In a report by Pew Social, they state that “75% - say college is too expensive for most Americans to afford.” This shows how the majority of americans feel about the price of education. (1).With people paying for college, and going to school full time, how would one find time to work, and get their their school work done?One paper did their research and discovered that “The average college graduate paying annual tuition of about $20,000 can recoup the costs of schooling by age 40.” (Daily 1).That is only including annual tuition as well, what about fees like parking, books, or even food?“ Between 2004–05 and 2014–15, prices for undergraduate tuition, fees, room, and board at public institutions rose 33 percent, and prices at private nonprofit institutions rose 26 percent, after adjustment for inflation. …show more content…
But how would one live at home if they are in another state, or have no home to return to? Well here are some ways that you can get through college without debt weighing on your shoulders for the next 30 years. As stated her “Most colleges and universities sponsor resident advisor programs that offer reduced tuition or reduced room and board costs if you work in a residence hall.” working in a residence hall is a great way to may money and pay less. But even still that only covers the topic of how to pay for housing. There is still plenty more you need to worry about. One way to cut back on cost is to take smaller steps to reduce payments, for example “you can lower the cost of textbooks if you buy used books or rent textbooks” This is a great way to lower cost, even if it's only a few bucks at a time. In the rare case there is an emergency, and you need some cash but you are broke as dirt, there is always credit cards. Credit cards are also a great way to raise your credit score, as long as you pay on time. College will always be a looming price tag, but with this, and a solid budget, prices can be reduced significantly. Hidden fees do have a huge impact on college, and this can raise students debt tremendously over time. This puts a huge responsibility and amount of stress on students, the pressure of being able to pay for your schooling, life
As McArdle points out, the cost for a college education has gone up over the years, leaving students in debt. I agree with this statement, because a college education was more affordable years ago and now it has doubled it’s cost. According to the article, McArdle states “The average price of all goods and services has risen about 50 percent. But the price of a college
College corrupts people, changes people and segregates families. Many people know the risk of pursuing a college education and still decide to move forward with their decision. We must ask ourselves if the cost is worth it.
To begin, college is not worth its cost due to the economic burdens it places on college graduates. Students put themselves in debt with students loans necessary to pay for their education while also watching their wages decline over recent years(Doc C). This creates a lifelong cycle of
College does have its good and bad, but the tuition money needs to decrease in both public and private schools. College should be the best time of everybody’s life, but money shouldn’t be a distraction.
Everyone knows that going to college and getting a degree is the most effective and guaranteed route to ensure a prosperous financial future, right? College is considered by most to be the best investment you can make in life, but what happens when that investment leaves you drowning in thousands of dollars in debt right after graduation day. This is the situation that millions of college graduates are faced with in 2016. Rising college tuition perpetuates student debt and is on a sharp incline and it seems to have no ambition of ever slowing down. The effect of this catastrophe is felt by millions of families across the country who now question, “is college really worth it?”
Going to college and furthering someone’s future career is a very important part of life.. Making the choice of going to college or not going to college could affect someone for the rest of their life, If a student decides to go to college after high school they will be in debt for many years after they graduate college. “Over the past decade, tuition and fees have risen much faster than inflation and outpaced the cost of housing and health care” (Blumenstyk). Blumenstyk is showing how outrageous the cost of college tuition has become. Whether it is for a University or a Community college either one. Most people spend their whole lives being in debt just because of buying a house and now they will have the burden of paying off their college tuition as well. They may keep getting a bill in the mail that most of them will hate looking at, and also putting down that much money each month for their payment. While college does create the opportunity of increased pay and better jobs, it should not mean students are required to pay all the money they earn back the college. At that point people may as well not go to a
College is one of the most fundamental institutions in our modern world. It is a place where most of our future politicians, doctors, scientists, and leaders are made. Though, it seems that the price tag that comes with a college education is something that is too hefty for some students. Countless debates go on about whether the price of college should be abolished or whether the cost still is on the students to pay for.
Rep. Dick Zimmer predicts that at the current rate of rising college costs, by the year 2000 the average price tag for attending a four-year public university will be over $50,000 and the average four-year cost at a private university will exceed $104,000. (College costs continue to climb, 14) During the years between 1970 and 1994, the consumer price index increased just under four times, but the average cost of tuition, room, and board at four-year public colleges went up nearly five times, and private college costs rose almost seven times, from just under $3,000 to over $20,000. According to the U.S. News Cost of College Index, the average middle-class worker must now labor 95 days to pay for a year at an average private college. Two decades ago, it took slightly more than half as long to pay for the same education. (Elfin, 90) By 1994, the average four-year cost at a private college was over three times the typical family's annual income. (Reiland, 59) However, The College Board recently announced that US college tuition and fees for 1996-97 increased at nearly the same rate as they had in the previous year, adding that the more than $50...
If you are not paying completely for your college tuition, then your parents are helping and or you took out loans and eventually have to pay them back. Seeing how most college freshman are 18 or even 17, means you do not have much money saved if any at all and your parents are stuck paying for everything you need, going to college for more than four years or even at is going to cost you, or should I say your parents. Undergraduate loan borrowing crossed the $100 billion edge in 2010 and aggregate loans surpassed $1 trillion U.S. dollars a year ago. “This (student loans) increase has put a disproportionate burden on students and their families—hence loans. The median household income for a family of four is about 24,300 in 1980, 41,400 in 1990 and 54,200 in 2000. In addition to the debt that students take on there are few statistics on how much parents pay and how they pay it” (Williams 2006). It's not advanced science. It's the economy, Undergraduates and laborers looking for more schooling are obtaining lots of cash through government and private advance projects to help take care of the continued raising expense of school and preparing for careers. Much of the time, parents in charge of the undergraduate loans are in or are close to
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...
How does the rising cost of college tuition affect us? Every year thousands of students attend a college or university, usually of their choice, with the goal of achieving a higher education and to better their future. The cost of attending college is too high and it needs to go down; there needs to be more scholarship and grant opportunities. The high cost of attending college is a major reason that students aren’t able to achieve higher education; others take this as a challenge and it is motivation for them to work harder to achieve their goal. One might ask why would someone want to spend money to receive more education and miss out on more years of work that they could’ve performed? For many, it is so they can receive more salary for the jobs that they will have later in life, also so that they can get training for their wanted career. The cost of attending college is high and continues to rise without indications of decreasing. The rising cost has many benefits such as earning more pay, but it also has its disadvantages such as the debt that is accumulated from student loans. Not everyone can afford to drop down thousands of dollars and attend school for a few more years. Students who wish to receive a post-secondary education must decide whether it is the right choice for them depending on their financial standpoint, meaning that they must decide if they have the resources to further their education.
Today, more jobs require more than a high school diploma. In order to get a good paying job, a college degree is required. More people are attending college in order to get better paying jobs, but is going to college worth a good job with rising tuitions across the nation? According to College Board, from 2002-2003 to 2012-2013, the average tuition and fees for a private institution rose about an average of 2.4% every year. As tuition prices increases every year, it affects millions of college students. It affects college students who have to use government aid to assist paying for college.
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...
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.
Even though there's no exact answer to what it costs to go to college today, it is possible to make a good guess. Figure out what kind of school you want to attend and find out how much it costs to attend. From there, tack on an estimated percentage increase — five percent per year is a good guess(Texas Guaranteed Student Loan Corporation, 2014). According to Merkein(2013) the average sticker prices at the nation's four-year public universities rose 2.9% this year, the smallest annual increase in more than three decades, suggesting that the steeper increases over the past few years "did not signal a new era of accelerating prices," says a report out Wednesday(Merkein , 2013). “A college education is one of the best investments that students and families can make,” Coleman (Hechinger, 2013). Yet ...