As kids, we are taught we need to make it big. Ever heard the phrase “Shoot for the stars”? Ever wondered what it really meant? Ever wonder how to get there? I find that the reason for such a phrase to exist is because once you have, ‘made it big’, you would not have to worry about problems the majority of the population have. Such as financial stability, popularity, boredom, recognition, starvation, etc. Though the fact still remains, how do you get there? And that is where the college factor comes in. Colleges are the pinnacle of your learning experience within educational systems. They are the centers in which people gather to perfect their art. Whether it be the entertainment industry, politics, fashion, or even cooking, there is always a college for you. Each class is taught by a professor, a master of their field, and the campuses of any college is nothing to sneeze at. The result of going to these prestigious institutions can also result in gaining a higher payment than the average worker. With such a mass amount of these buildings dotted across the U.S.A, you would imagine many people attending them. While that is the case, the result of doing so is becoming less and less affordable. …show more content…
The increase in cost has surpassed the government’s Consumer Price Index by six percent. Sorry, was that six percent? I meant six percent, every year. While this number may seem small to you, tell that to the 66 percent of Americans currently in debt for the next thirty years. In fact, the total student loan debt for the year of 2018 is 1.48 trillion. That is almost double the total credit card debt. As you can see, the numbers on the payment of college are already high and only going to soar higher. If the issue is not subdued within the next approximately 50 years, the majority of the population will not be able to attend them at all. If only they would lower the
College tuition The cost of going to college is getting ridiculous. If a student were to apply to an out of state public college in 1997 they would be paying on average $8,840; now at the same out of state public school they would be paying around $26,010. Are we expecting people who have little money to stop their education even if they want to keep going or be in a huge amount of debt? If colleges were tuition free or had minimized costs the economy would be better or could improve and so would the lives of millions of people.
Higher education has undoubtedly undergone immense changes throughout history. These changes are addressed in the article “Not what it used to be; Higher education,” written for The Economist. The article begins by saying that American colleges are clearly still doing well, as “more than half of the top 100 universities, and eight of the top ten, are American” in international rankings. The main point of the article, though, is how drastically the costs and debts accompanying a college education have increased throughout history. The article states that “In 1962 one cent of every dollar spent in America went on higher education,” but by 2012 this number tripled.
Also, in the past 65% of baby boomers with student loans still carrying debt for their own education. Only a few students can afford to attend a university without getting help to pay for college through loans from the government, family, or banks or even two or more. It is also reported that a moderate college budget for an in-state public college for the 2017–2018 academic years averaged $25,290. A moderate budget at a private college averaged $50,900 the average student loan debt is $37,172 per student. Even if a student doesn't complete the credits need to obtain their chosen degree students are still required to pay for the loan in full.
According to the last recording of student loan debt, the total amount of the United States student loan debt is roughly one and a half trillion dollars (A look at…). Statistics like these present the urgent need to resolve the major financial issue of student loan debt. Solutions have been given by many people to solve this issue but most solutions fail. The main reason behind student loan debt is falling to far into debt to the point where it is almost impossible to come back. The origin behind all of this is a lack of a student loan amount cap.
“First, research shows that the highest college loan has hit $30,000.” That is a problem. There are numerous of ways to resolve debt. There are: scholarships, grants, financial aid, etc. Being so far in debt can hurt your credit and discourage one from ever graduating the college they are participating in.
This is a very concerning matter because the more tuition goes up, the higher the population will be in debt which will cause our country to go farther down the hole of debt. Some people that do not have to worry about student debt anymore probably think that it is not their concern but even if they do not have to deal with it themselves they are still affected by the increasing amount of debt. “the biggest cause of rising debt is the steady increase in tuition and fees, which critics variously blame on falling state support for public universities, light faculty workloads and excessive spending on facilities, athletics and administration” (Price 1). One of the biggest cause of the increased rate student debt is going in is tuition and
Today, I would like to talk to you about a critical issue that is affecting over 15 million young Americans as we speak - the rising cost of college education in the United States. With tuition costs soaring every year, increasing over 175% in the last 20 years more than three times that of inflation, many students are forced to take out loans to finance their education. While loans may seem like a good solution to the problem, they have significant drawbacks that are hurting the future of our country. First and foremost, the loan system for college education in the United States is not sustainable. The total amount of student loan debt in the United States has surpassed $1.8 trillion according to NerdWallet, and it is growing at an alarming rate.
Let us face the facts, a college education is expensive but the rewards are significant. A college degree will not only progress a graduate’s earnings possibly but their capability to be hired in general. Gillian B. White the writer of “Even with Debt, College Still Pays Off”, Graduated from Northwestern University. She is a senior associate editor at The Atlantic. She is also a Freelance Journalist, writer, and editor.
College debt is only increasing, “two-thirds of the class of 2011 owed 26.600.” According to Ellis of CNN Money, “the increase comes at a time when unemployment has remained stubbornly high for college graduates - 8.8% for 2011.” Most kids would rather party when they get out of high school then get a job, therefore students who have parents with steady jobs will have an advantage over the
In European countries such as Germany, the government has begun to pay for higher education to help future citizens have the option of higher education. Persistently students today are enchanting out student loans to have enough money for college. Students should be prevented from being charged so widely and shouldn’t be deprived by student loans. Since student loans are pouring students into a debt to the point where students will be working to pay off their student loans. Congress is trying to cut federal debt, while they struggle to reduce debt; tuition repeatedly increases to the point where student debt has surpassed credit card debt.
College is one of the most important and life changing times in the life of an American. Leaving high school behind and venturing out to the adult world is an amazing experience that every individual should experience. However, young adults from every corner of the country leave college with crippling debt or do not go to their preferred college of choice. College education should be cheaper as it will help families and students financially and give them the satisfaction with having the opportunity to go to their first choice for college.
According to the article, around 60% of american undergruduates are under debts which indicates that most of college students can hardly afford college tuituion nowadays. If universities continue to increase tuition with a high rates, it might cause more students cannot afford a college degree. Author points out that accessability to student loan is one of the reason which caused dramatic rise in tuition. Therefore, author thinks that Congress should regulate college and spend more on educations. The source is new and creditable.
Many people dream of a life filled with riches, but that dream is hard to obtain without a college degree. It is somewhat ironic how people dream of being a successful student and going to college but the cost of tuition turns that dream into a horrible nightmare. It is not a shock to most people when they that college tuition is expensive, but in the past few years it has increased to an all-time high. Lower and middle class students have now begun to realize that college tuition is holding them away from their dreams. Even though college tuition could provide opportunities for job creation and economic growth, tuition is not affordable for the average American household which in effect, prohibits students from taking opportunities like going to college in the first place.
The cost of college tuition is an enormous problem now days. For a long time, the subject never got brought up and today things are changing. Students study hard and try their best to get that college acceptance letter from their dream college. Students all around the world are struggling with college debt and trying their hardest to receive those so-called ‘perfect’ grades. However, college tuition is not very affordable and is increasing every year.
College Isn 't The Only Answer If anyone has ever went to high school, then they have heard about college. Everyone has a different point of view on the idea of college. Part of it depends on how someone was raised.