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Problems of student debt
The rise of college tuition essay
The rise of college tuition essay
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According to the article Bernie Sanders on education published in early 2015 “Bernie believes that no student who is willing and able to go to college should be denied based on the income of their parents.”(Sanders 1) College tuition has increased so much that it is unaffordable for middle class and poor families. In the late 1900’s Baby Boomers could work for one summer and pay off their college tuition. Today in 2015 you would have to work an entire year to pay off just your tuition. Not only will you be working that year but you will also have to manage all your class work and be to your classes on time. Inflation is one of the key factors for tuition costs increasing. If you bought a meal in 1978 that cost $5 today it would cost about $11.15.
When a student gets a student loan this allows universities plenty of room to increase their tuition which deceases their enrollment numbers. “With an average yearly in-state tuition cost of over $9000, college students are looking at a financial burden of over $36000 by the time they graduate, and that only counts tuition. Every student spends almost $1200 on textbooks. If you don’t come from a wealthy family it will be all but impossible to go to college. Many families don’t spend a lot of their income so they can save the money to send their kid(s) to college. Either families save for years or they take out loans that will put them in financial debt. So either they can save money through out the years and be on a tight budget or they can take out a loan that will send them into a financial debt for years. Many students have to drop out of college because they cant handle the financial burden. If tuition fees where removed then students and parents can go through the college experience without having to stress about paying for their tuition. If they don’t have to worry about the tuition then they can focus more on their studies and have a better chance of graduating.” Being able to attend college significantly increases opportunities for upward mobility and a better life for our children, which is a key component of the American dream.”(Sanders 1) If we could remove tuition fees than we will have more college graduates and more people to work which will decrease the unemployment rate which will then get people of governmental help.
While his plan is not well defined, according to USA Today, Bernie Sanders plans to pay for “free tuition” with tax increases specifically at this time under consideration: .5% fee on stock trades, .1% fee on bonds and .005% fee on derivatives. One problem with this plan is even with
More than a century later, President Abraham Lincoln passed the Morrill Land Grant Act of 1862 which enabled more than 70 colleges and universities to be created (Staff). The GI Bill in 1956 gave Veterans an opportunity many could not afford before. All of these instances in America’s history have made it easier for ordinary American citizens to learn more about the world they live in. There are numerous opportunities for the leaders of this country to help the issue of college tuitions rising, it is just a matter of initiative. As Bernie Sanders states in his “Public College Should Be Free” speech to the senate, “It is time to build on the progressive movement of the past.” When all younger people with the determination and the aptitude can reach their full potential, regardless of their economic or social circumstances at birth, America will have a tougher economy and a stronger democracy, a motive that goes back before Americans today can
As Bernie Sanders, a presidential candidate for the 2016 presidential elections, claims he can make college free, the subject of tuition for secondary schooling has become a “hot” topic. The New York Times, on January 20th, released a “Room for Debate” titled “Should College be Free?” where many journalists such as Andrew P. Kelly and Sara Goldrick-Rab voiced their opinions on college tuition. “Just one-third of students from the bottom income quartile, who started at a community college in 2003 finished with a degree or certificate by 2009,” wrote Kelly, showing that the poorer find it hard to finish college with a degree. He believed that indigent students would likely not graduate with a degree due to college cost and because they are not motivated enough to get through six years of college. Although it is unpractical to create an educational system where college is absolutely free, creating organizations dedicated to encouraging the needy to get through
"Parents with incomes below $40,000 were much more likely to say they couldn 't afford college compared to those with higher incomes. The unsettling aspect of this poll is that in all likelihood, these parents ' perceptions mirror reality," says Tamara Draut, author of "Strapped”. She talks about how most middle class families can 't afford to put their children into college. The highest education they can get is a high school diploma, which we all know in this modern world it cant get you a lucrative job to maintain your whole life. Most American don 't get the chance to develop their full capabilities through higher schooling due to lack of resources like funds to enable them see their full potential. People will say that education is meant for people who can afford to go. And already the government has made schooling from pre-k to high school free for all public school, so making community colleges free will cost the state about 60 billion dollars as said by the white house spokesman Eric Schultz . Education must not be limited to only privilege people,it should be universal for anybody willing to educate themselves to make their life better and help grow Americas economy reducing
The idea of freedom and equal opportunity that America was built on has sadly been lost and replaced with a system of quality education only being accessible by the wealthy. In-state college tuition should be free for all students meeting admission requirements, allowing students from the full spectrum of economic backgrounds to have the same opportunity to receive the same education. The incidence of poverty in the U.S. is directly linked to educational level. When a college degree is earned, income levels rise (College Board). The best use of federal government anti-poverty funds is not another welfare or assistance program; it is to make college education affordable for everyone.
So the system that is supposed to lead to financial stability later in life causes families to use nearly one hundred percent of their revenue in a given year to continue the cycle for their kin. The main culprit in this treacherous cycle is, you guessed it, the government. According to Paul F. Campos in his article “The Real Reason College Tuition Costs So Much” he cites Sandy Baum saying, “it’s not that colleges are spending more money to educate students, it’s that they have to get that money from someplace to replace their lost state funding — and that’s from tuition and fees from students and families.” (Campos). Essentially, the government has been cutting funding over the last decade due to various reasons. The recession in 2007 was a major contributor to this loss of funding. In fact, Lynn O 'Shaughnessy writes in her article “Why college tuition keeps rising”, “Since 2008, when the recession hit, total public funding for higher education has declined by 14.6 percent.” (.O’ Shaughnessy). Public funding is a lifeline for middle and lower class families when it comes to sending their children off to college, with such devastating cuts it is nearly impossible for
Today in America, “The average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year. $1.28 trillion in total U.S. student loan debt...44.2 million Americans with student loan debt”(U.S. Student Loan Hero, 1). We spend our lives working, learning, and trying to survive. In order to survive, we need to be educated. In order to be educated, we need money. To collect money, we need a good paying job. And in order to have a job, we need to be educated. It’s a large cycle that goes around in circles, and we can’t seem to find a steady way to help provide these things for everyone. While we all strive to make the best of every situation, money has become an issue, creating problems in many lives around the world. “According to the College Board, the average cost of tuition and fees for the 2016–2017 school year was $33,480 at private colleges, $9,650 for state residents at public colleges, and $24,930 for out-of-state residents attending public universities” (COLLEGEdata, 1). And it’s not easy to have a positive look on the American dream when our own president in spouting things like “Sadly, the American Dream is dead” (President Donald
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...
High schools build their students up to go to college. They don’t expose the students to any other paths but getting a higher education. There are no high schools anymore that teach their students how to start their own business or invent their own product. They don’t educate their students on how to use the Internet to become more educated with things without going to college. In the 1970’s a college student could afford their college tuition without student loans or getting financial assistance their parents. They were able to pay by working a part time job year round or a job over the summer on their time off. The government destroyed this by providing easy students loans to anyone who applied. There weren’t any credit requirements for taking the loans out. According to a documentary called “Conspiracy Scam” on youtube, tuition for a four-year college costs $29,293. It also states that price went ...
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.
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.
Over the last few decades, college tuitions and fees have increased by over one thousand percent, surpassing every category associated with the cost of living including food and medical. This unprecedented rise in cost has resulted in an avalanche of issues for young and middle-age adults. As, a result of steep student loan amounts, graduates are being forced to move back with their parents, fewer young people are becoming homeowners, they are delaying retirement saving, and are dropping out of college at an alarming rate of nearly fifty percent. With all the controversy surrounding the topic of increasing college cost, the revised income-driven repayment program has been created to help borrowers pay back student loans according to their income.
Students dreams of getting a good college degree is getting crushed because they do not have enough money to even apply to one. 55-64 aged adults are the third most educated people in 34 different countries because back then colleges where affordable for most people. Younger adults are the tenth most educated in the 34 countries. It went down because there was a higher tuition resulting in less people being able to afford a college to go to. If people have a hard time paying for less expensive things than they will have an even harder time paying $5,460 a year for a college for four years that is not high quality at
According to The American Prospect, the cost of tuition has increased by 1,122 percent since 1978 (Ellison, 2016, para. 4). Additionally, the debt from student loans has become the largest form of debt within the United States, surpassing the debt accumulation from credit cards and/ or auto loans. Not to mention, one of our nation’s presidents, Rutherford B. Hayes, stated himself, “Universal suffrage should rest upon universal education.” Additionally, Hayes stated in his inaugural address, “liberal and permanent provision should be made for the support of free schools.”
The baby boomer era was the result of many people having babies continuously and at the same time during a certain period of time. As stated by Campos (2015), as the baby boomers reached college age, state appropriations to higher education skyrocketed, increasing more than fourfold in today’s dollars, from $11.1 billion in 1960 to $48.2 billion in 1975. This resulted in the start of tuition increasing because it was shown that more people were interested in higher education and therefore they can adjust the price of attendance. Ultimately greed set in for many on not only the state level, but the national and federal level too. Since it has been shown that people want to achieve a higher education because of the baby boom era, the rise of tuition has been gradually increasing despite the decrease in recent years of attendance. This impact has affected me by making it harder to receive supplemental help to achieve my higher education. It has allowed the placement of many restrictions for help in paying for the cost for me to attend college. Not everyone can save and prepare for the expenses associated with attending college and need some form of financial aid. This doesn’t necessarily mean to just take out a loan to pay for college because then one must pay that student loan back. What if they are unable or don’t finish their degree for the reason they are unable to pay for it? That then leads them further into debt and eventually hurts the