The total cost of an in-state university (including room, board, books, travel, and miscellaneous expenses) hit $24,061, up $651 or 2.8% from last year. This to most isn’t just pocket change, having this kind of money annually for 4 or more years isn’t easy, most students get grants, scholarships, or loans to pay for the extensive tuition. So is college really worth the student loans/debt, tuition cost, and possible monetary wages and payoff? Preliminarily, students apply for loans when they don’t have the money to pay for their books or other expenses that derive from college. Loans can quickly turn into a substantial amount of debt by the time a student completes their standard 4 year degree.
In Rhode Island there being the location of Brown University along with many other well known schools there is a large margin of students who are not able to afford an education in a time where a college degree is key for success. For these students of whom do not fall under the circumstance where they qualify for financial aid they have to take out students loans that take years to pay off. In recent years the amount of student debt has been reaching an unimaginable amount as “Americans owe nearly $1.3 trillion in student loan debt, spread out among about 44 million...In fact, the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year” (Federal Student loan statistics). With a six percent increase in
Why College Isn’t Worth It Attending college is something that many High School students look forward to as a buffer or a way to make the transition into adulthood easier, but a rising question has people considering: Is going to college really worth it? While some describe college as their best years, it leaves most attendees in debt and with a degree they may never use. Between tuition fees, traveling, housing, food, and textbooks, all college students are bound to owe at least a few thousand. In 2014, the average student loan debt was between 24,000 and 33,000, varying by state. “Seven in 10 seniors (69%) who graduated from public and nonprofit colleges in 2014 had student loan debt, with an average of $28,950 per borrower.
The rise of college tuition contributes to the ever so rising income inequality. The high cost of pursuing a higher education is very frightening. In the graph in Trends in Higher Education, the average cost to attend a public four year college is around $23,410 per year and average cost to attend a private four year college is about $46,272 per year (College Board). It is a staggering high cost that most Americans cannot afford. Although the U.S department of Education offers financial aid to students, the aid it provides is not an adequate source.
Student loans is the second highest source of debt of $2.1 trillion dollars in the U.S. economy right now. This student loan debt is not only affecting the entire economy as a whole. In America, people believe that earning at Bachelor’s degree is the key to success in order to be financially secure be set in life. However at the same time, the cost of tuition has skyrocketed, and the borrowing of loans rise with it. The rising of student loan and debt will reduce consumption, lower investing, lower the rate of home ownership, and overall make it difficult to sustain financial stability.
Families, who have their own issues, now need to confront the challenges of concocting cash that they scarcely have all together for their child to get instruction at a college institution. Student loan debt is common and is anticipated for undergraduates to seek higher education subsequent to graduating from their high school. College tuition costs are soaring, and a majority of undergraduates experience issues paying for their educational costs. To pay for their college expenses, most students require loans and toward the end of four years, those wind up owing debtors. Student loan debt has an unremitting impression on the lives of those within its grasp, influencing the manner in which they make important life choices.
The average weekly earnings for someone with a high school diploma is about 668 dollars. Someone with a Master’s degree makes about 1,326 that’s almost double. Say you go all the way to a doctoral or professional degree they make about 1,615, that’s 300 hundred dollars more a week. Not only does a higher degree allow people to make more money but the unemployed rate is lower.
Zach Lindley Professor Fisher English 101 11-13-2016 Rising Tuition Costs Is going to school to obtain a degree so that you can further your education still an opportunity for everyone? With tuition growing for the past decades many individuals question whether higher education is even worth it in the long run. Tuition has increased dramatically over the past couple years which has made it extremely difficult for students to pay for higher education. Without new resources for new students it’s getting hardier to take classes and pay for it without ending up buried in debt. Higher education costs have risen due to public revenue shortfalls with greater institutional spending and the solution to this is to provide adequate financial aid as well as regulating school spending.
A subject that should be brought to your attention is the issue of student debt. This is a problem that affects over 40 million Americans, certainly enough people to draw your attention. While scholarships are made available, it certainly isn’t enough considering the fact that the average Class of 2016 graduate has managed to accumulated $37,172 in student loan debt. Personally, as a future attendee of college, these facts are startling. Having not come from a wealthy family, as many other Americans do, I wonder, what can we do to fix this issue?
The average student graduating college in 2016 was in debt $37,172. Overall, 44 million American’s owe $1.4 trillion in student loan debt. That means more people in America are in student loan debt than credit card and auto debt. In today’s society, a college degree is a necessity for a well paying career. This means if you can not afford to go to college or if you cannot bear the student loan debt after graduating, you will not be able to find a professional career path easily.
Most people want to further their education after high school and get the most knowledge they can receive, however college tuition in America is super expensive and is drastically rising. Nearly 40 million Americans have student loans and the total amount of student loan debt in the United States adds up to $1.2 trillion (Berman). The fact of the matter is that since a college education is out of the financial reach for many bright students and their families many young people have been turned down from reaching their full potential because of tuition costs. This is one of many reasons why a college education should be free for all students who complete high school. I will be talking about how more students gaining a college education can help society and the country, why a college degree is more important in todays age than ever, and why the large amount of student debt that is owed is