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Vocational education vs college education
Why is the cost of college so expensive
Student debt effect on students
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Imagine graduating from high school and deciding you will attend college. As a result, of this you take a loan from the bank and pay for your tuition. During college you meet new friends and get the education you need for your career. Although at first the debt is crippling you get the career you want. In the end, college helped you attain the career, life, & new friends along the way. Recently, the debate of college being worth it has a common one. Each side has its perks and its deficits to go along. The main factor in this debate is the cost of college itself. While it may be true college is pricey, evidence suggests it can easily be paid off. College education is worth the cost because college graduates have higher pay and more opportunities. To start, college education is worth it due to college graduates earn more money. For example, according to source 1, “Over the past four decades, those with a bachelor's degree generally earned 56% more than high school graduates and those with an associate's degree 21% more than high school graduates.” (Marklein). This is a big perk to going to college if for over 40 years college grads on average make 56% more; overtime …show more content…
This is mainly attributed to the debt students acquire. Although this may be true, in source 5, Leonhardt argues, “four-year college graduates who took out loans, average debt is about $25,000, a sum that is a tiny fraction of the economic benefits of college.” (Leonhardt). Truly, due to all additional money college students earn $25,000 shouldn’t weigh them down their whole lives. Likewise, Leonhardt states, “Student debt, meanwhile, has topped $1 trillion.” (Leonhardt). Despite the giant debt, this isn’t an enormous amount because there are millions of students who have went to college. To add on, some of these students spent too much money on their college. Clearly, college education is still worth the cost despite the
As McArdle points out, the cost for a college education has gone up over the years, leaving students in debt. I agree with this statement, because a college education was more affordable years ago and now it has doubled it’s cost. According to the article, McArdle states “The average price of all goods and services has risen about 50 percent. But the price of a college
One statistic that Owen and Sawhill presented was “Hamilton Project research shows that 23- to 25-year-olds with bachelor’s degrees make $12,000 more than high school graduates but by age 50, the gap has grown to $46,500 (Figure 1). When we look at lifetime earnings—the sum of earnings over a career—the total premium is $570,000 for a bachelor’s degree and $170,000 for an associate’s degree. (Owen, Sawhill pg 641). Owen and Sawhill also mention that “with tuitions rising faster than family incomes, the typical college student is now more dependent than in the past on loans, creating serious risks for the individual student and perhaps for the system as a whole, should widespread defaults occur in the future. Federal student loans now total close to $1 trillion, larger than credit card debt or auto loans and second only to mortgage debt on household balance sheets” (Owen, Sawhill pg 642). Basically, what the authors are saying is college is expensive, but for some career paths, the training and education received in college is necessary to have that job and the benefits outweigh the costs. With a high paying career where a college education is necessary, paying off student loans is no problem. On the other hand, people who go after low paying careers that don’t necessarily need a college degrees,
First, attending college effects financial awareness. College needs to reduce the cost of their tuition to help students that are struggling financially. The benefit of lowering college tuition fees including the fact that higher education is often a standard job requirement in many fields, but also that lower tuition costs increases the accessibility of education, which in turn creates social mobility that is often beneficial to the economy. Freeman Hrabowski, President of the University of Maryland, Baltimore County read an article by New York Times called “College is for Suckers.” He mentions that the article “echoes an increasingly common refrain that college is too expensive, that students are taking unmanageable debt.” (Hrabowski 259). even though Freeman states that there are college prep
In the Washington Post, the article title, “College is not a commodity. Stop treating it like one.” Everything revolves around money these days and the economy. The economy is justified to be expensive, by the time you are the age of 22 you will be in debt up to 100k dollars to 200k dollars. Regardless of where you go to college or what you go for you will be in debt. The author states that the value of education
To begin, college is not worth its cost due to the economic burdens it places on college graduates. Students put themselves in debt with students loans necessary to pay for their education while also watching their wages decline over recent years(Doc C). This creates a lifelong cycle of
But what’s more important? Saving money orapplying to college? So here we ask ourselves on more time, is college worth it? Of course, it is.The more colleges you apply for, the better. Expanding your college options are better thanlimiting yourself with a budget.The cost of tests and applications may be high, but that is nothing compared to how muchcollege really costs. In college, you’re not just paying for the opportunity to learn. You arepaying for books, to rooming, to the grass you step on, and to the air you breathe. A student withno subsidizing means to pay for college can find themselves amidst a nightmare when findingout how much college costs. The cost is so high that an “average of $29,400” (Webber 2) isexpected for a single student’s loans. College tuition, is not lenient, and you know it’s bad whenalmost former president Barack Obama mentioned and “criticized the rising rate of collegetuition” (Gutmann 136). The average cost of college can “range from $3,000 to more than$32,000” (How Much Will College Cost Me? 1). And for low-income students? The statisticssay that “only 52 percent of low-income students enrolled in a…college immediately upongraduating” (Elliot 26). The game is not in the favor of low-income students. In fact, collegecosts plus lack of monetary. See, they need jobs to pay for college, but without college, thechances at a good paying job are slim. And so, some never see the end of
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
Four-year colleges’ tuition is rising by each year, so college education would be a heavy financial burden for people who pay tuition and housing during school years in debt. They could not afford school and housing expense for various reasons, such as low-income family background, but they still did it by taking loans because they hope that they could gain more benefits by doing such a investment. However, it would not be a wise investment when the person could not clear off the costs of investing, and many colleges graduates would not pay off their students loans in five years after graduation. A famous journalist Edward McClelland says “In a recent survey, 24 percent defined the American Dream as ‘not being in debt.’ They are not trying to get ahead. They are just trying to get zero” (553). Being debt would hold back those people by not achieving all the other goals freely, including their American dreams, and they have to delay everything excepting paying debt first. Certainly, believing that attending college would always make individuals better off is misleading, but investing college education by being debt in ten years would only be
Leonhardt article, I think his idea that college education is important no matter what and it will always be like that - is really strong. Especially with all the data and statistics that he provides in the article, it seems like there is no other choice rather than to believe him and go to get a college degree if you still don’t have it. It is definitely going to pay off. “It’s the most reliable ticket to the middle class and beyond,” he said. When I think about
Jayson Boyers stated that "having a college education can make big differences in some people 's lives" (The Huffington Post Newspaper, 2012). People who do college education often get high level and high paying jobs. The main reason for why students feel hesitant to attend college after they graduate from high school is because they worry about the price of schooling and they prefer to have a job instead to make fast money. Although, people who graduated from high school often are only able to receive jobs at fast food restaurants, clothing stores, etc. When people are able to earn more than enough money to have a stable life they are able to be less stress-free and enjoy their lives more. People who often work in retail jobs face the risk of not making enough money to buy food and also pay their rent. The money that people earn in retail jobs takes a very long time to save up in order to go to college. Alternatively, the world is very competitive and people, truthfully, do have trouble succeeding and even surviving day to day. The most recommended thing to do is to go to college after high school and take out a student loan if needed and pay it off when a career job is obtained. Working very hard now equals to a better life, job opportunities afterward, and positive friendships
In today’s world college is worth the cost but there are times when college isn’t worth the cost for many student’s thinking about college. Many college graduates come out of school with a major and many loans that are needed to pay back. With the major they try to look for a job and then to find out that there isn’t any job openings for that major. Then the people that do have a major are most likely to make more money than someone without a major.
All of this makes a person wonder once again, is college worth it? College is not just fees for education, it also includes a large number of other fees that you need to know before getting into it. Of course, education will always be worth it, even with all the hidden fees. But they still add up, and college students already have trouble paying for their classes as it is. In a report by Pew Social, they state that “75% - say college is too expensive for most Americans to afford.”
Going to a four-year college is great for a person but the debt gathered after for years of college is hard to ignore.“The cost of either degree -- including tuition and lost wages from not working during the two- or four-year period -- has remained largely the same over recent decades as well, at $110,000 to $130,000 for a bachelor's and $40,000 to $60,000 for an associate degree, according to the economists”(Peters). The cost of college tuition is increasing and increasing every year, causing many Americans to acquire debt that seems unpayable. With debt people have to work longer hours or work more jobs just to pay off the debt while paying for items to survive in this world like food. This shouldn’t be the lifestyle people have to live
Those who think a college education is not worth it believe that college can become a setback in life due to the thousands of dollars that college students are spending on tuition and books. Students who attend college will not have the money to purchase a home, spend money on family, vacations, or any other costly items and bills. On the other hand, most college students end up paying for their college loans all of their life or go into debt. They will never have money to rely on since their credit cards will be racking up interest for college loans that need to be paid off. As stated by Paul Taylor in Michelle Adam’s report, the cost of a college education has been at a record level and the cost of tuition and fees has more than tripled which is causing a rise in student debt (58). With rising prices, the economy is making it more difficult for people to afford a college education.
(qtd. in Carrns). College should never feel like a financial burden. America has made college so accessible to anyone and everyone. Students who otherwise could not afford college can go now because they are being approved for student loans worth thousands of dollars, along with credit cards to finance their education. The “average graduating senior . .