Social Cost Of Education

The social cost of education is high. The price of obtaining that education is high. Not having that education will cost an individual more; freedoms, privileges and securities. It is apparent that having a higher education is not only important, but necessary. Paying for that education is a larger issue, though. Even at the community college level, costs range from $4500 to $35000 per year depending on the major. That adds up for the new graduate, who will struggle to pay it back. In return, the government does offer ways to get past that.

This paper will attempt to explain that higher education is imperative to compete in today’s ever changing and evolving economy. The important factor is whether or not the government should be responsible for its citizens receiving this education, or if it is up to the individual. Elizabeth Warren agrees that there is a need for student loan reforms. In Her Needed Call for Student Loan Reform, she outlines why we need it and how this should be done.

The Democratic Massachusetts senator understands the meaning of a lack of educational funding and what that means for our economy. Her credentials include having successfully “fought to establish the Consumer Financial Protection Bureau, the first new pro-consumer, pro-people agency Washington has seen in decades (Vanden-Huel, 2014). She apparently is well versed in financial issues and what is needed to further society. She also mentions that “40% of households are headed by someone under the age of 35 that are saddled with student debt, unable to buy homes, raise families and secure their futures” (2014). The so-called epidemic threatening our education systems is having a direct effect on our economy.

Our current president believes ...

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... is our responsibility to give our children the same opportunities we had as we were growing up, without imposing the financial burdens that are impossible to rise out of. “This year, commencement speakers from across the country should address the problem located on the very campuses that will host them. Challenging students, lawmakers and college administrators to ensure that higher education remains an engine for growth, not a dead end of debt” (2014).

That is a very well said statement about where we need to get to and where we need to be overall. The future of America lies in the hands of our youth. Empowering them to have access to more knowledge and acquire new skills sets will help the economy overall. Thus, lowering education costs is where we can make a difference in allowing our youth to excel, prosper, and make it easier for generations to come.