A college’s main sours of revenue in tuition money which as previously stated, is four hundred percent more expensive than twenty years ago. People who are seeking the traditional path into the work force are forced to pay these crazy high prices and are enticed by a pretty residential life and the thought of new found independents. The reality of student debt have not set in yet. Student debt is at an all-time high with an average of 29,000 dollars per student. Because of the tradition of going to school and the amazing residential lives, it can be easy to recognize the severity of the situation you are putting yourself in.
Higher education is problematic because it is not designed for all students. It is expensive, can cause debt, and the probability of a degree will be useless. A two-year degree is much quicker than a four- year, although the world only focuses on four-year colleges. Two-year colleges are primarily focused on pre-requisites for a major at a four-year school. Attending a two-year college can save money, and it will give the student a faster time to start their career with little or no debt.
Without these numerous factors that vary vastly among different colleges and universities one simply may not assume every student that finances a loan goes into long term debt. College admission may be a hard decision when it comes down to price. Many other students fail to attend their dream school due to the financial struggle. Ultimately there are students that pay the full price for admission no matter what the cost just to attend their dream school. To many students college is worth the price for admission.
Somewhere along the way Americans began supporting the idea that all students should go to College. Students get the idea by the time they are in middle school that they need College to be successful. There are so many loopholes around college as well as evidence showing that having a degree doesn’t mean person A makes more money than person B. College isn’t for everybody, and people can go get their 3 year degree only to find out that the whole experience wasn’t worth anything to them and now they have all their student debt to deal with. College, unfortunately, is very expensive; However, in America we have many options for students to pay for their education, almost all ways of paying tuition put students in debt.
Their could be a theory that the idea of not going to college and just working could be a way to earn more money after all would be misleading since people who are college graduated, their extra credit of work for higher education will be acknowledged from their workplace and would indicate as important and would pay the person more than someone who did not do anything to make them more educated. From the rise of unemployment, “those with a high school graduates is tuck in a part-time job with entry-level wages, and very few option for full time employment”. People who did not do pursue to higher their education would have a hard time to level up their job status and remain the
Debt forces students to postpone life in several key areas including buying a house, getting married and saving for retirement. On top of all this, college degrees are more common than ever; record numbers of Americans have a college degree and its impact on future earnings is not what it used to be. So, college students are paying more for a degree that will earn them less than the same degree did a generation ago. And we want to go into debt getting this degree? This is absurd.
The increasing rate in which students are dropping out of college is alarming, because it will affect our society in the long term, as the students of today are the employees of tomorrow. Governments need to address this issue, because everyone’s future lies in the hands of teenagers. They need to find a solution to the increased prices in colleges relative to people’s earnings. Years ago, attending college may have been only for the people who were well off, but today having a bachelors degree holds the same value as a high school certificate did years ago. Teenagers’ aswell need to understand that attaining a bachelor’s degree is key for getting a well-paid job later on.
“Three decades ago, full-time workers with a bachelor’s degree made 40 percent more than those with only a high-school diploma (Leonhardt)”. This shows that without going to college there is a big difference in getting paid less. A lot of “Adults who did not attend college believe that, on average, they are earning $20,000 a year less (Pew Social & Demographic Trends)”. If people want to feel like they are getting paid the amount they should for the work they are doing then people need to go to college. The average “income for those with a bachelor's degree was $65,482, and $92,525 for those with advanced degrees (Is a College Education)”.
Since college tuitions have inflated so much, it is not uncommon for student to ask for a loan to pay college. Consequently, the average student loan from public colleges is 25,550, this number is among the 66 percent of students who have a loan. In private university, the number just increases, 75 percent of students require a loan and the average loan debt is of 32,300 (U.S. Student Loan Debt). We all know how important is to get a college degree, but what we don’t know is how our student debt is going to affect us after we graduate. Unfortunately, when students ask for a loan, they do not have strategies to repay that debt, it is not their fault, but schools’ fault that have not taught financial literacy in their schools.
Most college students do not have a steady flow of income and almost none can pay for college out of pocket. This makes the student think if college is an investment that is even worth it. Most people are spending at least $50,000 on their college education and high school students can’t even begin to
Student Loans make create more pressure for the scholar and their family. Student borrowing student loans do not have enough to pay off the debt plus tuition. In state tuition and out of state tuition make a great impact because student who want to go out of state to study in a major, they will have to pay more. For Example, Kennen Estela and López, Estela, writers of “The Financial Needs of Community College Students” writes, “In 2006-07, average tuition at a community college was $2,361. This represents only 38 percent of the cost of the average tuition at a four-year public university ($6,185)… Financial aid poticies at the institutional, state and federal level have failed to acknowledge the need to support transfer students and increase the participation rates for students from lower-income families…” This exemplifies, student and their families are at higher risk of deriving loan and repaying them off, especially lower- income families.
According to a source, the average college tuition is about 9,000 dollars. Unless you have millionaires as parents, this is a big chunk of change that will take a lot to be paid back. Today, students are forced to take out student loans and that is what hurts most students down the road. According to the American Student Assistance website, the total outstanding student loan debt in the United States today is between $902 billion and $1 trillion. Approximately $864 billion is composed of outstanding federal student loan debt.
College students and graduates are facing debt, unemployment/ drops in wages, and some would rather learn with their hands. Many college graduates are facing unemployment, leaving students and parents to question if college is worth the cost. The answer is no. Student debt has significantly increased. “If you get this wrong, it’s actually a mistake that’s hard to undo for the rest of your life”(Peter Thiel co-founder of PayPal).
There are so many people who have made millions and that are so happy with their lives. Some examples of successful people who didn’t go to college are Michael Dell, who founded Dell, Steve Jobs, co-founder of Apple, Bill Gates, founder of Microsoft, and Mark Zuckerberg. All of these people, who are wildly successful dropped out or did not go to college at all. Lastly the reason I think college isn’t worth it is that college does not insure a job. Some think that going to college is going to insure you a job but that isn’t always the case.