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The problem of high tuition
High cost of higher education
Effects of financial problems in students
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Recommended: The problem of high tuition
Unit3: Tuition problem
Higher education in the United State is not free, unlike other developed nations. For many years; college education was not that important, but now with not so many jobs available and a lot of people wanting jobs, it involves more education in order to be employed in a profession. The people with the higher education are more likely to get the job they want. Almost everyone agrees that the cost of higher education is rising. Now the biggest problem for students is to pay tuition for attending a school of higher education. Most students have financial issues during their college lives; I am also part of them. The cost of college has become shocking and students are dropping out of college with high amounts of debt. Some
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Most students who are deciding to attend college don’t have enough of a budget to pay for college, forcing them to depend on their parents for financial help. But what if parents cannot provide them with money sources? This would be very depressing to me. Every time tuitions rise, stress rises as well. I think it is because they are trying to make some new change to the school, and the money that they collect from tuition goes towards that new change. Some changes are supposed to be done for a good of the students such as good parking areas, food, convenience buildings, and transportation; but the effect from the high cost of tuition could hurt the institution as well. Some courses can be cut due to decreases in registration; this problem can lead to campus’s staffs losing their jobs. If the student does not have enough money to pay college fees, and they don’t want to go out and borrow money to join school, it causes in student attendance decreases because no one wants to be in so much debt for an entire life …show more content…
The E.F.C. says that this family will contribute $17,375 each year to a child’s college expenses. A $100,000 income translates into take-home pay of about $6,311 monthly. An E.F.C. of $17,375 means the family must contribute about $1,500 a month — every month for four years. But cutting family expenses by 25 percent every month is unrealistic”. Student loans are an option for students who need money to fulfill their tuition. Federal government sponsored programs like the Stafford Loan and the Perkins Loan for help students pay for their tuitions; these kinds of loans offer low fixed interest rates as well as delayed payment options. The Federal Direct Stafford Loan is a particularly great program, as it offers a subsidized option to qualifying borrowers. With a subsidized Stafford Loan, the Federal government will pay all interest on the loan for as long as the student remains enrolled in college.
Here are the lists of affordable repayment plans from the Edvisors web site, for more details go to https://www.edvisors.com/ask/faq/benefits-stafford/. This is trusted source of information leading by experts in the industry, such as David Levy, bestselling coauthor of “Filling the Fafsa”.
• Standard Repayment. Standard repayment is a form of level repayment, offering a fixed monthly payment with a 10-year repayment term.
• Graduated Repayment. Monthly payments under graduate
If you think your educational expenses are more than you and your family can afford, you should apply for financial aid using the Free Application for Federal Student Aid (FAFSA). You will need to apply for financial aid every year by completing a FAFSA. The FAFSA includes all the information necessary to determine your eligibility and must be completed if you want to be considered for any of the federal programs sponsored by the U.S. Department of Education. The FAFSA is available in two formats: paper and electronic. If you complete a paper FAFSA, you will mail it directly to the application processor listed on the FAFSA. Or you can apply online at www.fafsa.ed.gov and list school code will receive your processed information.
According to Trade Schools, Colleges and Universities “Many of America's top-performing high school students never apply to the most challenging colleges and universities even though they have the ability to succeed at them. They often come from minority and low-income households and end up pursuing more affordable, less-selective schools instead.” College can be a burden to many students in a variety of different ways, but the most common reason is due to funds. Making college free for students will help this problem by increasing jobs in the work industry that require degrees, they should be affordable to all people at all cost, as well as the funds should be completely cut off because it would increase jobs and help America's economy grow.
In USA, student loan has become the second largest source of consumer debt, only after home mortgages. A research has revealed that, more than 7,500 borrowers having a debt of $164 million have applied for debt relief under a 1994 regulation. Finally, in June 2015, the US department of education promised to forgive the debts of the bankrupt students. There are generally a few primary programs, which might actually help you to get the Federal Student Loan Forgiveness.
Having the college experience is everyone’s dream, especially High School students who are ready to get out into the world and explore. College is very important for furthering someone’s career, but no one thinks about all the costs and the stress that comes along with college. Tuition fees and costs are increasing more and more each year. Now days it feels like you have to be a millionaire just to attend a good college and get a good degree in what you were attending for. There are some students that do not have a lot of money and live on very little things with their parents, but indeed are very smart and have a 4.0 GPA. Those students are the ones that are unable to attend college if they cannot afford it. College tuition is too expensive,
There is no doubt that college is expensive, price tags for some universities go over a quarter of a million for just a bachelors degree! (That’s if you graduate in four too). The extravagant price for college is no doubt crazy. Trying to better yourself and your future shouldn’t cost $250,000 plus. If public universities were to be free a plethora of problems could be solved instantly. According to Forbes the National student loan debt has surpassed 1.2 trillion dollars (Denhart )! This number is growing exponentially as more students enroll in to college. Why question then whether college should be free? Well, this number is the total amount of student loan debt from all students that have exited college. Some of these students are freshly graduated while some are aged with the wisdom trying to pay their loans back. If public universities were to be free and funded by our federal government, our government would pay this amount within ten years. Relatively a short amount of time considering that the student loan debt is an accumulation debt from students that have graduated more than ten year ago, also this also greatly increase with the following years as well.
and tuition plays a major role in students’ decision for attending college. Students according to a 2008 national survey of roughly 1800 students who qualified to attend college 1000 students of those 1800 did not attend college at all. The main reason claimed by 80 percent of the “non-college-goers” was due to lack of money, more especially not enough grant aid. Although a student was well qualified to attend college having no financial aid made their choice to attend impossible. On the other hand, students who couldn’t receive enough grant aid sought other alternatives to go into college like getting loans. Depending on the amount of years one chooses to attend college it can rack up to an unbelievable amount. According to Edvisors, a financial aid website, “The class of 2015 graduated with $35,051 in student debt on average.” Imagine that! It’s no wonder that the students who didn’t receive enough grant aid chose not to attend college. It was because they did not want to accumulate a debt that in most cases they would have to pay throughout their lives, claiming that tuition cost is too much for
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
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.
Whoever goes to college after high school are going to have a mountain of debts caused by student loans for the rest of the student’s life. College and universities are almost inaccessible to the people who want to achieve the dream job because of the high prices of college. In an article titled, “The Challenge of College Affordability: University of Alaska is a bargain in shaping the future” by Ashok K. Roy, it is stated that “The average student debt is approximately $26,600. Roughly $864 billion is out-standing in federal student loan debt while the remaining $150 billion is in private student loan debt”. People don’t have twenty-seven thousand dollars on hand to just pay for college out of pocket. Most people cannot even have breakfast, lunch and dinner, let alone spending money on college. Many students struggle with debt because of unemployment or under-employment. The same article stated, “The Center for the Study of Education Policy estimates that in 2012-13 the average tuition and fees at a four-year public universities was $8...
There are so many students who would extremely grateful to attend any four year institution but can’t because of the lack of funds. College life can be very stressful, and the process can is very frustrating to most students the first two years. When the cost of college tuition is compared to the 21 century financial economy the cost does not make sense, because for a middle-class family it is impossible to afford sending their child to any four-year institution. It hard for students to graduate with the stress to pay-off hundreds and thousands of dollars in loans. Going to college is stressful enough without the need to worry about how we’re going to pay for it and what other costs will continue to rise with getting a degree afterwards. With the current increase of unemployment rate and the thought of going to college seems like a farfetched goal. Many people choice not to attend a four year institution, because they did receive a scholarship or enough government funding. Having a college background is very important for professional growth, it will eventually limit career opportunities. My stand point is, you may not leave college doing the same thing you began with but the life experience is endless. College experience not only gives knowledge that builds you into a better person by giving a broader erosion. With the cost of tuition increasing will hurt our generation, by causing physical and mental stress but in the end it will all pay off. Not all colleges are for the blame; some of the blame is our economy and other factors play a big roll. As students we need to be aware of all our resources offered, such as Pell Grants, and government scholarships. For example, the some states will pay for a student’s college if they graduate high school with a GPA of 3.5 or higher. There are many states that are willing to pay for all or some of college tuition only if students are willing to use
Higher education costs have been increasing at a rapid pace, faster than inflation for the economy as a whole, for the past fifty years. It started in the 1960’s when the federal government passed the Higher Education Act to increase the amount of people able to afford and attend college. Regardless of the Unites States Government efforts to increase the affordability of college, federal aid programs have not risen to expectations due to the ever-increasing college prices. To lower the price of college, the government needs to cut back on student financial spending to go only to the lowest income families and create tax incentives for families to start saving up on their own.
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.
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
The debt will only continue to grow with neglect, so the most effective action to take would be to eliminate the cost altogether. The argument for free higher education is not only an economic issue, but a moral one as well. Currently, social mobility in the United States is at or close to its lowest point in modern history (Eskow).... ... middle of paper ...
Fees and loans are too big of a load for young people to carry. A lot of students drop out do to the pressure of having to worry about all the loans they have to pay back after they are done with college. This should not be an issue to the student. According Iatham Emmmons, “Even worse, a large portion of students never receive funding at all due to the multitude of stipulations that must be adhered to in order to qualify for assistance. A major flaw in the current federal educational assistance programs is that the students’ parents’ income is used to calculate financial need” (Emmons 3). Even citizens who try to get help by applying for funding never end up getting it because they do not meet the needs required for the funding. Education should be p...