Almost every parent of a high schooler in America, except the parents whose child is a genius, a gifted athlete, or parents who are they themselves fabulously wealthy, worry about how they will be able to afford for their child to go to college. Most parents and students have resorted to finding scholarships, grants, and loans. Many of these loans leave students deeply in debt for years to come. Colleges and universities cost within the United States have increased to a level that is unaffordable and unsustainable for the average student and must be lowered to ensure that the United States remains an educated world power. Students usually have to shell out thousands of dollars a year for just tuition. If the student also needs room and …show more content…
“A typical college graduate earns an estimated $650,000 over a work life than a high school graduate” (Rosentiel). This amount of money is influential to not only the lives of the graduates, but also their children who will then be able to afford to go to college, and since it is such a financial benefit, post-secondary education should not be so expensive. Having that much more money in a lifetime helps the privileged and their children stay privileged and the unprivileged stay unprivileged, creating and sustaining a large wealth gap. “...when more men (and a few women) were going to college, many of them in preparation for their future high-earning careers, or simply because it was becoming more normal. Why, the reasoning went, shouldn’t they pay more” (Rothman)? Going to college was becoming more normal, so anyone who wanted to thrive in a competitive market had attend, but college was also becoming unaffordable because colleges raised their prices. Making college more expensive keeps many low-income people unable to become successful because they would not be able to enroll in college since they could not, at the moment, afford it. Seeing college as an essential but pricing it as a luxury perpetuates an already destructive wealth gap in American …show more content…
Universities could “Cap administrative costs… Operate year round, five days a week… More teaching, less (mediocre) research… Cheaper, better general education” (Pearlstein). All of these suggestions would not necessarily make colleges spend less, but they would spend less wastefully, and therefore each dollar spent would go farther. These suggestions would also improve the quality of the education students are paying for, making teachers teach instead of spending their time on often unimportant research that will go unnoticed. “Democrats focus on interest rates of loans, Republicans are focusing on how much the loan is” (Savidge). Even if college itself does not become cheaper, lower interest rates on loans and smaller loans would limit the amount of debt a student would be able to acquire. With less loans to pay off, students and recent graduates would be able to afford to buy things such as cars and homes, boosting the economy. “ ...the price of college would have actually declined since 2000… if funding had been kept constant and the schools applied that money entirely to the students’ tuition bills” (Webber). If the government kept its funding consistent and invested in the youth of America, the average student would have a much less substantial tuition bill to pay. Schools would lose little money by applying funding to tuition because they would keep the funding, regardless of where it is being applied.
people agree with the state that Liz borrows from Thomas Jefferson, "Everybody should have an education proportional to their life,"(Addison 256). Unfortunately, the average income between rich and poor in America is not accurate, everyone supposed to become somebody in life; college gives opportunity to everyone who wants to do so, to become whatever they want, and at any age with a low cost. as much as the income level between rich and poor in America stays unbalanced; college will always be there to gives opportunity to people who want to learn, but cannot afford to attend university. Liz Addison points out an example in the article.
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
In recent years, there has been a tremendous increase in student enrollment in higher education after high school effecting the need for financial aid for all students. Education has become a growing part in America where more students want to better their lives with a college education. However, the cost of college tuition has increased and more students find themselves struggling to pay off the enormous tuition rates. In a recent study by the Consumer Financial Protection Bureau, student debt has reached $1 trillion in federal loan debt. Student loan debt has crippled the economy and students are struggling to pay off federal loans. In order to help students with the high tuition rates of college the government and universities offer
While college may be initially uneconomical, evidence from a 1959 census shows a “three-fourths of earning difference” between those who graduated from college and those who merely received a high school diploma (Weisbrod et al 495). Weisbrod and Karpoff acknowledge the high cost of college in America, but assert the benefits of a college degree will more than reimburse a person in the long run, therefore the initial cost of attending a college is worthwhile. (Weisbrod et. al). Furthermore, this indicates only “one-fourth of the earnings differences are attributed...to non-schooling factors”, which proves the significant role college plays in determining the future earnings of an individual (Weisbrod et. al 497). College appears to be the most influential factor in regards to a person's earnings, therefore according to Weisbrod and Karpoff, college is necessary for a person who wishes to obtain a higher expected income. Even students who attend mediocre to below-average colleges will receive “a lifetime income that is [around] 10 percent lower ...than that which someone at one of the best schools can expect” (Weisbrod et. al 497). Weisbrod and Karpoff contend even low-tier colleges result in higher earnings, therefore a student should strive to attend any college regardless of the
Tuition and fees has extremely risen over the past years which makes it extremely difficult for both social economic groups to invest in a higher education for their families. Today’s college students borrow and accumulate more debt than previous years (The White House). For instance, “In 2010, graduates that borrowed money graduated with owing an average of more than $26,000”(The White House). As a result, President Obama has expanded federal support to help more families and students to afford higher education (The White House). Also, he believes that it is a shared responsibility of the federal government, states, colleges, and universities for making higher education
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.
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...
Everyone knows that person from high school that just wasn’t cut out for college. It’s not a bad thing by any means, but if you’re thinking about heading off to college like many American teenagers often do, think about this: going to college can be a waste of both your time and your money. I’m not the first to say it, and I sure as hell won’t be the last. In Stephanie Owen and Isabel Sawhill’s essay, Should Everyone Go to College?, the two authors take a strong economic approach to justify going to college. Owen, an ex- senior research assistant at Brookings’ Center on Children and Families and current research associate at the Urban Institute, a nonpartisan center for research on the problems of urban communities, and Sawhill, the co-director
Children of the twenty first century spend nearly 13 years in school, preparing for what is college, one of the only ways to achieve the so-called “American Dream”. College is the best way to start an advanced career and go further than one possibly could if college degrees were not available, allowing people to achieve their view of the American Dream; whether it be large houses, shiny cars, multiple kids, or financial comfort, college is the stepping stone to achieve the American Dream. But all great things come with a price, college dragging along debt. Students who attend college struggle to find ways to pay for it, leading to applying for student loans. These loans a great short term, paying for the schooling at the moment but eventually the money adds up
The skyrocketing price of college tuition is causing a tremendous concern over whether higher education will be a viable financial concept to the average citizen over the next decades. Some families have opted to explore different means of obtaining a higher education for their children as these costs escalate. There is overwhelming evidence that colleges need to restructure the way they are run because tuition prices are increasing at a rapid rate causing changes in the way students fund their education and in the way the government provides educational subsidies.
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...
If a student were to be able to attend college tuition free, it would allow students who were not able to attend college to enroll, help the lower class receive better jobs with new degrees, and push the economy into a better direction with more jobs and workers all within the United States. College tuition for all high school graduates is an important part of the ongoing economy. If tuition were to be covered many more jobs would become available, help boost the economy and allow students the opportunity to receive post high school education.
Over the past decade, it has become evident to the students of the United States that in order to attain a well paying job they must seek a higher education. The higher education, usually a college or university, is practically required in order to succeed. To be able to attend these schools and receive a degree in a specific field it means money, and often a lot of it. For students, the need for a degree is strong, but the cost of going to college may stand in the way of a successful future. Each year the expense of college rises, resulting in the need for students to take out loans. Many students expect to immediately get a job after graduation, however, in more recent years the chances for college graduates to get a well paying job isn’t nearly as high as it used to be. Because students can no longer depend on getting a job fresh out of college, it has become harder to repay the loans. Without a steady income, these individuals have gone into debt and frequently default loans. If nothing is done to stop colleges and universities from increasing the cost of attending their school, the amount of time it takes for students to pay off their loans will become longer and longer. The extreme expenses to attend a college or university may leave a student in financial distress: which may ultimately lead to hardship in creating a living for them and affect the country’s economy.
Did you know that, “ the current balance of federal student loans nationwide is $902 billion, with an additional $140 billion or so in private student loans.”( Martin and Lehrens 5) In today’s society, college tuition and student loans has been the hot topic recently in our political, social and economical viewpoints. Without a doubt, scholarships, hard work with money management, and community colleges can solve the cost of college and the issue of student loans creating debt.
Reducing or eliminating the cost of college would allow for more low-income students to attend (Huelsman, 2015). It would also minimize the amount of college kids who drop out due to the inability to pay tuition for four years. Ironically, student debt is more burdensome to those who drop out because of their lack of ability to get a high paying job (Andersen, 2018). All of these factors