Imagine a world with no college debt, a higher education equally available to all young people, and no college price barriers. These were the main goals of President Truman in his 1974 commission on Higher Education. Now, let us fast-forward forty years and take a look at the higher education system, which suffered an increase of one hundred and ten percent. “Eighty-five percent of college graduates are forced to move back home with their parents due to college debt, forty-two with debt currently live paycheck to paycheck, and seventeen percent delay buying a new home, and having children due to their student financial loans”(Surprising Side Effects of College Costs”). Higher education institutions increasing their costs have a greater impact on students than just being in debt; the increase I price also results in a countless number of students considering a different alternative for their higher education, future careers, and major life decisions.
When thinking about the “American Dream” in today’s society, wealth, and a flourishing career, seems to have a direct correlation with happiness. But is this “American Dream” worth an overwhelming amount of debt? The Project on Student Debt conducted a survey, which showed that seventy-one percent of college students had a student loan debt averaging $29,400 per student. Because of this alarming dollar amount, students tend to settle for two-year community colleges to obtain a degree. Although this seems like a good idea in
Higher education has been known by many Americans as a luxury for only those who can afford it if not being forever in debt with student loans. The price of higher education has been in debate for many years but it still has not ceased to come into an agreement. Should higher education lower its price or is it worth paying for it? As Andrew Hacker and Claudia Dreifus argue in their article “Are Colleges Worth the Price of Admission?” there are colleges worth mentioning about how successful their financial management has been correlated with their students success. The issue has also come into attention for Sanford J. Ungar, as he explains in his article “The New Liberal Arts,” although liberal arts education may be have its misconceptions, it does pay for its price. Hence, higher education (whether from a regular university or a liberal arts college) is worth the price, as it prepares individuals for the real world more than any other kind of education, it is an unique time were students are allowed to explore and put their abilities into test and it is the opportunity for many to overcome the many obstacles life has to offer.
Colleges have been snowballing into profit making machines throughout the past 15 years. Students wishing to pursue higher education nowadays have to take loans and do everything they can to make minimum payments to try and pay tuition for the college of their choice. The rate of inflation of college tuition has risen immensely as opposed to the stagnant average income for most American households. College has also become more and more crucial to getting jobs and it is predicted that in the near future over two thirds of all jobs will require a college degree. With the need for a college degree increasing at an insurmountable rate the difficulty for finding the funds has also increased at the same rate. Although many believe that colleges
The United States needs to look to other nations that have figured out the necessity of higher education to be at an affordable cost if not free. In 2015, college graduates are facing on average just north of $35,000 in student debt (Berman). In part, the government has reduced the federal funding that each college receives each year. Therefore, colleges have constantly raised the
The increasing cost of higher education in the United States has been a continuing topic for debate in recent decades. American society emphasizes the importance of education after high school, yet the cost of higher education and advanced degrees continually rises at a greater rate than inflation in the 1970’s. According to the Advisory Committee on Student Financial Assistance, cost factors prevent 48% of college-qualified high school graduates from pursuing further education (McKeon, 2004, p. 45). The current system requires the majority of students to accumulate extensive debt with the expectation that they gain rewarding post-graduate employment to repay their loans.
The U.S. is home to some of the greatest colleges and universities in the world. But with an overwhelming 1.3 million students graduating with an average student loan debt of $29,000 each and with youth unemployment elevated, the question of whether or not college tuition is worth the money arises (The Institute for College Access & Success, 2013). Higher education faces intimidating challenges: continually rising costs, access and completion problems, constant changing of technology, and responsibility pressures from state and federal officials. But no challenge is more intimidating than the fundamental question that many Americans face to ask themselves, "Is college worth the cost?" As a result of the economic turn down, many students who graduate are not finding well-paying jobs, either within their field of study or not.
The increasing cost of higher education in the United States has been a continuing topic for debate in recent decades. American society emphasizes the importance of education after high school, yet the cost of undergraduate and advanced degrees continually rises at a greater rate than inflation. According to the Advisory Committee on Student Financial Assistance, cost factors prevent 48% of college-qualified high school graduates from pursuing further education (McKeon, 2004, p. 45). The current system requires the majority of students to accumulate extensive debt with the expectation that they gain lucrative post-graduate employment to repay their loans.
Colleges are noticing a drop in students’ interest in a higher education, because it forces them to fall into poverty. Obtaining a higher education is a dream of many working class citizens, but the price to go to a choice college is not available economically. The majority of students use some type of student loan, they have become the norm for attending college (Johnston, Roten 24). College is becoming unaffordable to many lower class students. With tuition prices this high, students are backing out of school and looking for jobs that only require a high school diploma. Student loans should help people, but it is only hurting them because they feel like they can never repay it. Especially since student debt continues to rise. “Student loan debt rose by 328 percent from $241 million in 2003 to $1.08 trillion in 2013, according to the Federal Reserve Bank of New York” (Johnston, Roten 25).
Throughout the USA college tuition has increased drastically; in the last five years Georgia colleges have had 75% increase along with other states such as Arizona whose tuition has increased by 77% (NPR). Since 2006 the tuition in Utah has increased by 62.8% and is rising throughout the U.S. (Desert News). Between 1885-2016 the price of college has increased between 2.1% to 4.3% per year beyond inflation (CollegeBoard). Through calculations, that equates to about a hundred precent increase since 1885. It’s no secret that college tuition has skyrocketed, increasing student debt and leaving prospective students to ask “Is College Worth It?” college education is beneficial in that it teaches students valuable life lessons in responsibility, prepares students to enter the workforce and can be relatively inexpensive. The eduction is “college education” is worth every penny but America has created clichés to define the college experience which are expensive and unnecessary. In a radical new world a college education is required in many high paying jobs, which leads to the question “Is the experience of college all it is built up to be?” Through recent research, many articles and news mention about the value of higher education seem to only take account of is the financial aspect. A college education is worth what one makes it and is an investment in a future and in one’s self. The purpose of college the education is to be prepared to go into a the workforce having gained the
There is no escaping the fact that the cost of college tuition continues to rise in the United States each year. To make it worse, having a college degree is no longer an option, but a requirement in today’s society. According to data gathered by the College Board, total costs at public four-year institutions rose more rapidly between 2003-04 and 2013-14 than they did during either of the two preceding decades (Collegeboard.com). Students are pressured to continue into higher education but yet, the increasing costs of books and tuition make us think about twice. Sometimes, some of these students have to leave with their education partially finished, leaving them with crushing debts. It is important to find the means to prevent these
College has become a significant chapter in the lives of many Americans today. In most cases, to reach the well-paying and dreamed-of careers, students must have a bachelor's degree or higher in a certain field of expertise — typically from a university. While this is true, many students have realized that university-level education, even in-state, is not cheap. With tuition rates on the rise, college is beginning to be seen as more of a burden than an opportunity. Although scholarships and financial aid decrease the net cost of attending college, the majority middle class students are not equipped with enough aid to graduate debt free, or even close to it.
The cost of tuition for higher education is quickly rising. Over half of college freshmen show some concern with how to pay for college. This is the highest this number has been since 1971 (Marill and O’Leary 64-66, 93). The amount of college graduate debt has been rapidly increasing also. With limited jobs available because of the high unemployment rate, college graduates find themselves staying in debt even longer. Although grants and financial aid are available to students, students still struggle to pay for their college tuition. Higher education costs are prohibitively expensive because the state’s revenue is low, the unemployment rate is high, and graduates cannot pay off their student loans.
Today colleges are growing more and more necessary for attaining a solid path towards a successful career, yet the rapidly increasing cost of tuition is driving students away from their dream of attending college, due to the preposterous amount of money that is now being demanded by colleges across the nation and world as a whole. It is sad to see students being turned away from a successful future due to the money-hungry nature of the universities that dot the globe. More and more impossible it is becoming to have a “rags-to-riches” scenario that used to highlight the American Dream, as if a student doesn’t have the riches to afford a higher education and the tuition that is drug upon its coattails, then our society is doomed to be clothed in rags forever, unless major changes are brought about to restructure and end the indefatigable growth of tuition rates across the board.
College tuition has been an increasingly intense topic of discussion over the years. The costs of higher education have been debated by many people, and it has been discussed as to whether costs are becoming too high for students to afford. College has become more and more popular, and now as many as 20 million students attend universities reported by The National Center for Education Statistics (1). The value of a college degree is immense, but college tuition is becoming too expensive for students to afford, and furthering the problem are students’ lack of knowledge on how to pay and earn money towards their college degree.
Since the beginning of the 20th Century, college education has been available for everyone and anyone who is willing to develop their knowledge regarding a specific professional field. Currently in the United States, the percentage of high school graduates going to college has increased considerably: 68 percent in 2011 compared to 49 percent in 1940 (Menand, 2) and the record high set in 2009 with 70 percent of total high school graduates enrolled in college ("Bureau of Labor Statistics"). Notwithstanding, it has come to the attention of many that the college tuition and fees have been increasing at an accelerated rate. According to The New York Times, college tuition and fees increased 439 percent from 1982 to 2007 (Lewin, 1). This
The cost of tuition at colleges and universities in the United States has seen a steady increase over last several decades. Since the 1980s, the list price for tuition has risen by roughly 7% per year, while the inflation rate has averaged 3.2% per year. The effect of this mismatch in the rise of the cost of tuition versus the average inflation rate has had monumental effects on the ability of students to afford a higher education. This, in turn, has forced more students to take out increasingly large amounts of loans, causing for the national student loan debt to grow to over $1 trillion dollars, more than total credit card