The Problem with College Tuition and its Solution Today in America, students graduate from college but struggle to pay off their student debt for years. Other times, smart individuals drop out of college because they cannot afford to pay the rest of their college tuition. In the 1960s and 1970s, tuition was only a small fraction of what it is today, and many were able to afford it with the money they earned over the summer. However, as the years went by, college tuition became expensive and eventually started to rise faster than inflation. Currently, tuition at selective and private colleges and universities has risen annually by two or three percent more than the rate of inflation, which has caused an ongoing controversy within America to …show more content…
Unless changes are made, a great amount of individuals will face a horrific future full of debt and regret.
In the article of “The Reason College Tuition Costs so Much,” Paul F. Campos finds that a large fraction of the increase in tuition can be explained by increases in subsidies. Over the course of the past few decades, administrators have said that the cuts in public funding is the reason why universities raise tuition year after year, which in turn, is the reason why the millennial generation is forced to take on crushing educational debt loads (Campos 1). Yet, contrary to popular belief, public investment in higher education in America is vastly larger today, in inflation-adjusted dollars, than it was during the supposed golden age of public funding in the 1960s. According to Campos, “the military’s budget is about 1.8 times higher
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Interestingly, increased spending has not been going into the pockets of the typical professor. In fact, salaries of full-time faculty members are barely higher than they were in 1970. In such matter, full time faculty members are very rare to come across in a college or university. Today, half of post-secondary faculty members are lower paid part-time employees, meaning that the average salaries of those who teach in American higher education are actually quite a bit lower than they were in 1970. The real major factor driving increasing costs is the increased amount of university
The critical challenge within in today’s society is that college tuition should be free or if not free, more affordable for all students. Certainly, higher education should not be considered a luxury where only the wealthy could afford, but an opportunity for all caste systems. It must be an accessible and affordable opportunity for all students in order for them to invest in their education. Higher education is important because it provides more careers to choose from than the careers offered without having a college degree. Ultimately, the issue here is whether it is right to make college tuition more affordable for the students.
Allan and Davis mention the spike of college cost since 1995 has increased by 150 percent; student debt has increased 300 percent since 2003, and with education, second to the mortgage industry in the nation’s debt, America needs to redirect their attention to the future and focus on education (Allan n. pg). Budget cuts from national to state
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.
Fighting the cost of college tuition is a hot topic these days. As long as I can remember, tuition has always been a reason why most people don 't pursue their bachelor’s or even associate degree. Today 's society has changed students are fighting for grants, financial aid, and even loans to pay through school. In order to be financially comfortable in the 15th century a college education is a must. It is an everyday battle getting financial support from a college’s administration. Colleges need to be more affordable, obtaining funds less stressful, and colleges must enact policies that condone these principles.
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.
One cause of increased tuition is the reduction of state and federal appropriations to state colleges, causing the institutions to shift the cost over to students in the form of higher tuition. State support for public colleges and universities has fallen by about 26% per full time student since the early 1990s. In 2011 American public universities took in more revenue from tuition than state funding. About 80% of American college students attend public institutions. In a financial bubble, assets like houses are sometimes purchased with a view to reselling at a higher price, and this...
An article written in 2015, by the Center on Budget and Policy Priorities explains that “States cut funding deeply after the recession hit. The average state is spending $1,805, or 20 percent, less per student than it did in the 2007-08 school year” (Mitchell and Leachman). With approximately 20 percent less per student given to educational institutes over the course of time, this will amount to a great deal of money lost and schools will need to adjust accordingly. Unfortunately, one of the ways that educational institutes are working to correct this is by increasing college tuition for students. When you do this, it is much harder for scholars to justify attending institute. Some individuals will argue that you are able to get financial aid. However, this does not turn out to be so for must students. This, again, is a setback in getting an education. An article writing by Michael Mitchell and Michael Leachman states that “In Arizona, published tuition at four-year schools is up more than 80 percent”. With this increase of education, how do students know where the money is being spent. Scholars would like to know that the cost of their education is not being spent incorrectly and are curious as to why the cost of education is increasing when there is no increase for them in the
Student Loan Debt According to US news, “the average bachelor’s degree holder takes 21 years to pay off their student loans.” The authors of “The Student Loan Crisis” are persuading the readers to not be afraid of student loans. I strongly agree with the article “Here’s Your Crisis: Student Loan Debt Isn’t a Myth” because they give very compelling evidence that student loans are a very big deal. The total student debt is over $1 trillion now according to the Consumer Finance Protection Bureau.
One reason that higher education is not affordable is that the states’ revenue is low and the states are in debt. Because of their decreasing tax revenues, many states need to make cuts in their budget. As a result of this, tuition is rising and other changes are happening throughout colleges. Some of these changes include: higher student to faculty ratios, less but larger classes, and fewer on-campus jobs that normally support students (Hulsey 24). These changes affect students and impact their view and decisions of certain colleges. The tuition rate has also “been rising at about 6 percent a year for most of the past ten years” (Marill and O’Leary 64-66, 93). This percent inevitably makes it harder for students to find an affordable college. High tuition prices also keep some people from attending their dream college. All of these changes have an effect on the students and the rising tuition prices.
According to a Pew survey, 75% of Americans believe college is too expensive for most to afford. The cost of college has skyrocketed since 1978. Tuition and fees have risen a 1,120% since 1978. Nearly 35% of students were unable to attend their first-choice college because of the cost—despite being accepted. There have been many presidential discussions on this topic.
Is Debt Driving Recent Graduates to Move Back in With Mom and Dad? The growing total student loan debt in the United States has many experts worried about the future of both higher education and millennials entering the work force. In 2016, more 18-34 year olds moved back home than ever before and the total student loan debt market crossed the $1.4 trillion mark. To combat this, many students have moved home after college to cut costs and get a head start on loan repayments, but is it the best decision long-term? Saving Money
Vedder, Richard. “More Money Is Not the Answer.” Editorial. Rising College Costs: A Federal Role? The New York Times, 3 Feb. 2010. Web. 19 Oct. 2011. .
With the rapid growth of college tuition, it has become an important issue in higher education. College Tuition is simply defined as the charge or fee for instruction, at a private school or a college or a university. Most people agree today that college tuition is too high or that it needs to be completely dismissed. There are some however, that may disagree with the claim about college tuition and state that college tuition is necessary for college growth, and it’s primary purpose is to pay for college expenses to support the institution financially. Research shows that college tuition is too high and that debt has become a standard in America after attending post-secondary school.
Have you ever thought about the inflation of college tuition in the United States? College tuition is the number one topic in every college student's or potential college applicant’s mind. College tuition rates have increased dramatically in the past decade: they increased by 266 percent in just 16 years. If this trend continues, college education will be available only for the few privileged ones because of its high price. Meanwhile, higher education is extremely important as it gives young people new skills and increases their chances of getting well-paying jobs. It goes without saying that college tuition rates should be controlled by federal and state government and partially funded by it because everyone should have the right for higher
Education institutions need to raise funds. There are a lot of things that need to be done in order for an institute to operate. The money is collected through fees, donations, and any other means (Menon, 2011). Colleges should rely more on donations than tuition fees, the stare could help donate to colleges. “Yes, college is worth it, a four-year degree has probably never been more valuable” (Leonhardt, David). A college degree is valuable, but then why is there so much debt stuck with it. One can say it is a way of doing business but to get best education and facilities one has to provide the funds as well (Menon, 2011). In order for colleges to run they need to have their own funds, they should not be forced upon a student, or at least minimize the tuition fees. If more students are attending college, why not bring down the price for tuition if they are making more money. “The pay gap between college graduates and everyone else reached a record high last year”, according to the new data, which is based on an analysis of Labor Department statistics by the Economic Policy Institute in Washington” (Leonhardt, David). “Americans who attend a four year university and obtained a degree, made 98 percent more and hour than on average 2013 than people without a degree” (Leonhardt, David). That is great, people have really worked hard