Market and Government Failures in Reducing College Cost

There was a time in America where college was based solely on merit, higher education and pursuing the American Dream to obtain a career and gain social status to be successful in society. According to the Economist newspaper, rising fees and increase of student debt, shared with dwindling financial and educational returns, are undermining at least the perception that university is a good investment. Now due to high cost of an average good university, students are leaving college owing back over $100,000 and are not getting the job of their original dreams.

Colleges have failed to stabilize tuition cost and has risen almost triple the cost since the 80’s in reference to The Economist news paper. In our country only 57% of Americans will be able to successfully complete their four-year college degree within six years as high tuition costs remains. Another failure that allowed colleges to raise tuition is due to the major cuts from states leaving the colleges to support themselves. The state found other concerns as priority and to invest in according to the New York Times article, Obama Vows Action on College. When the state or federal government no longer advances in aiding colleges and universities where does that leave our country for the future?

President Obama stated that the government would not continue to invest funds into an "undisciplined system." Field K. (2013, August 21) Obama Vows Action on College Costs, but Observers Say His Options Are Few. P.1, Washington Post. As well, the President stressed on how he will withhold some federal aid from colleges that fails to keep tuition growth low, and has proposed grants for states and colleges that adopt cost-saving measures. NY Times states that the federal gover...

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...t will build our future career seekers of the future. Heuve, V.K (2012, May 1) Free College? We Can Afford It, The Washington Post.

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Field K. (2013, August 21) Obama Vows Action on College Costs, but Observers Say His Options Are Few. P.1, The Washington Post

Garrahan, & John. (2014, May 02). Forgiving student loans won't fix crisis. Daily Journal Retrieved from http://search.proquest.com/docview/1520399845?accountid=27899

Heuve, V.K (2012, May 1) Free College? We Can Afford It, The Washington Post

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