College is a place for students to learn about dealing with problems and learning valuable lessons that will help them later in life. With the high price of tuition, many students struggle to get out of debt and start to make a living after college. High college tuition is an issue for students and their parents in the US because they do not seem to be implementing different solutions to fix it and many students end up with loans to pay off. There are many possible solutions colleges should try in order to decrease the cost of tuition. Washington Post writer, Jeffrey Selingo, recommends that students should be paying based on individual class. Classes with more students should be cheaper based on less time getting to know the professor. …show more content…
Debt has always been a severe problem for college students. Campo stated, “As has been well documented, college tuition has outpaced inflation for years, and the current $1 trillion in student debt coupled with intense pressure…” These students have a lot to pay off after college and this can be difficult while they are also trying to find a place to live and find a job to start their career. A New York Times publisher breaks it down even more and gives us the average number per person, “college seniors with loans now graduate with an average debt load of more than $25,000” (Lewin). This can be more if the student does not get a job while in college. Lewin shows how it is possible to get out of debt, but it does take a while. The majority of students that get a college degree over a high school diploma earn about one million dollars more in their lifetime. He is saying that college is an investment worth making. The jobs that students will find out of college can help get them out of debt, but not all. Students may not be lucky enough to find the best paying job for their major and will struggle to pay off their student loans/debts. He says that graduates should be patient and smart with their money. If they are smart about their lives after college, they will have no trouble getting out of debt. The problem for most, if not all, students is the inability to pay for all four years. They do not usually have a problem with the first year. Selingo promotes the idea of students getting jobs in college in order to make money. This can be very beneficial toward the outcome of their financial problems. Writer for New York Times, Steve Cohen, says that going to community college for the first year can help solve the money issue. Community college is much cheaper and will still allow
Many people would agree that our country’s young adults have and continue to incur a lifetime of debt by enrolling in college. It’s become an almost acceptable understanding that if you plan to attend college, you might as well expect to graduate with an enormous amount of debt. Robin Wilson, a reporter for the “Chronicle of Higher Education,” and author of “A Lifetime of Student Debt? Not Likely” suggests student loans are very real and can be life altering.
Mark Kantrowitz indicates in his article, Why the Student Loan Crisis Is Even Worse Than People Think, that “Student loan debt is increasing because government grants and support for postsecondary education have failed to keep pace with increases in college costs”(Why 1). This means that the government no longer covers for college tuition fees. College graduates are 20% more likely to work at a job that is outside of their major by the debt they are in. Kantrowitz also mentions that “students who borrow to attend college, it appears that more than a quarter (27.2%) of them are graduating with excessive debt” (Why 1). In reality, leads to student saying that the financial cost was worthless, ending up with a job that is especially not what they went to school
College is one of the most fundamental institutions in our modern world. It is a place where most of our future politicians, doctors, scientists, and leaders are made. Though, it seems that the price tag that comes with a college education is something that is too hefty for some students. Countless debates go on about whether the price of college should be abolished or whether the cost still is on the students to pay for.
For the past decade, The United States has stressed the importance of college education, to those seeking employment, and better careers. For most people, college is the logical next step in education, as it provides a working knowledge of a desired field and opens the door to many opportunities, but college has become increasingly more expensive as time goes on. Many people feel that college is no longer an option financially. Even with financial aid and scholarships, the cost of a college education can still be very taxing. This is due to massive price increase across the boards, but the main issue on most people’s minds is the debt that will be acquired from higher education.
Over the past decade, it has become evident to the students of the United States that in order to attain a well paying job they must seek a higher education. The higher education, usually a college or university, is practically required in order to succeed. To be able to attend these schools and receive a degree in a specific field it means money, and often a lot of it. For students, the need for a degree is strong, but the cost of going to college may stand in the way of a successful future. Each year the expense of college rises, resulting in the need for students to take out loans. Many students expect to immediately get a job after graduation, however, in more recent years the chances for college graduates to get a well paying job isn’t nearly as high as it used to be. Because students can no longer depend on getting a job fresh out of college, it has become harder to repay the loans. Without a steady income, these individuals have gone into debt and frequently default loans. If nothing is done to stop colleges and universities from increasing the cost of attending their school, the amount of time it takes for students to pay off their loans will become longer and longer. The extreme expenses to attend a college or university may leave a student in financial distress: which may ultimately lead to hardship in creating a living for them and affect the country’s economy.
Most people today accept the debt that comes from college. Students consider student loan debt as a “good debt.” They see other students make this mistake but follow their path anyway. Nearly 80% of college-bound students have not projected the total amount of money they will need to graduate college.
In the article, “Is student loan debt really stopping people from buying homes?”, written by Jillian Berman, she discusses how being more cautious going into the college life will definitely benefit the student, quoting another author, “Instead students should be mindful of the cost and the amount they’re borrowing when choosing a school” (Berman). Berman goes on to quote, “[…] no, you should not skip college” (Berman). Because skipping college is a nasty idea in the twenty first century and could potentially lead to debt, it is a good idea to think of the smarter options when choosing a college to attend. Many students choose a college based off of if it sounds good or if it’s far enough away from their parents, and this most definitely leads to more cost, especially if a student decides to attend an out-of-state school and does not have the money. Choosing smarter and cheaper paths are the easier way to go when thinking of college. Not everyone, however, will decide to choose the cheaper path, so there are other things that could possibly help the financial
As people of many ages wish to further their education outside of high school, they tend to take out student loans in order to fulfill this wish since the large tuition payment is not in their budget. Paying for an education that presents a degree seems easy to many by taking out large loans to pay for their education. Recently, student loans have challenged the economy of Americans. Education is perceived as a necessary expense to many, in which they do not mind putting a burden on the economy for. Many people believe those loans can be paid off in a matter of a couple years. However, this idea is misguided as many people do not pay their student loans off until their early forties.
In an article written by Andrew Lehren, the author provides the bold statement that “the only thing worse than graduating with lots of debt is not going to college at all” (Lehren). In today 's society, many families lack the funds to provide a full ride for their children in terms of college. Due to this fact, many people turn to alternate solutions such as loans or diving straight into the workforce instead of attending college at all. These solutions, however, may greatly affect a person throughout the course of their life. The problem of college debt is increasing rates in regards to tuition, however, fortunately there are various solutions accessible in order to decrease or eliminate the debt that many american students face.
Several students are disheartened when it comes to college due to increasing prices of tuition yearly. Most will agree that we need a further cultivated society, but to accomplish this, we must take in consideration lowering the expenses of college tuition. It is recognized that decreasing college tuition does have various drawbacks. For example, it may cut into funds for items such as classroom equipment, essentials, staff pay, administration, and dormitories (Goodman). Nevertheless, lowering college tuition will encourage more students to attend college, relieve students of the stressful burdens of loans, while also creating a better educated society, which will be beneficial to everyone in the long run.
When starting college every student must make a very important decision. Whether if they want to get financial aid or to pay the money up front. Having college debt will not only ruin their credit, but he or she may also have to pay off their tuition for the rest of their life. Research says, “According to the College Board, which tracks students’ financing of higher education, undergraduate students in 2013 through 2014 borrowed in the aggregate nearly $63 billion and received $33.7 billion in Pell grants.” By this quote from “Debt, Merit, and Equity in Higher Education Access” it clearly shows the effects College Debt has on their society, but also on their educational future. Every paycheck they receive, a small portion goes toward paying
When a student gets out of college the game plan is supposed to be, get a job in the field that you went to school for and make money so you can start your life. That particular situation is rare considering not all students get a job fresh out of college. For the students that don’t, they have to go back home and settle for a regular job and start paying off their giant student loans and put their life on hold. Even with having the job they wanted the student loans come right around the corner. After college is when the student’s life is supposed to start and the part where you get a car payment, pay rent, utilities, but none of that is possible when you add the enormous amount of money that the student will be in debt by. With the amount the students have to pay fresh out of college, more students are sacrificing more time struggling to pay off the student loans then they spent in school. Student loans are set-up in a way to be flawed and not always completely necessary to the student.
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.
With the rapid growth of college tuition, it has become an important issue in higher education. College Tuition is simply defined as the charge or fee for instruction, at a private school or a college or a university. Most people agree today that college tuition is too high or that it needs to be completely dismissed. There are some however, that may disagree with the claim about college tuition and state that college tuition is necessary for college growth, and it’s primary purpose is to pay for college expenses to support the institution financially. Research shows that college tuition is too high and that debt has become a standard in America after attending post-secondary school.
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.