Many middle-class students find themselves in a predicament when filling up those financial aid forms before enrolling in the college. Many times, their families have the paradoxical problem of having a high net income for qualifying for financial aid, but still do not have enough to pay for fees out of their pocket. Students are then forced to depend on academic scholarships and loans which getting them is extremely hard and competitive and often aren’t enough to pay for the entirety of a tuition bill. A college education is an essential in today’s economy and unfortunately, it is more difficult than ever to obtain a degree. The financial barriers for students and their families are an alarming trend that can only be reversed through a government
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.
Most students don’t go to college because they don’t do well in high school, so they think college will even harder. College isn’t for everyone. A lot of high school students drop out, so what makes people think that they’ll go through college? From DoSomething.org, I found that 1.2 million high school students drop out just in the U.S. alone. That’s a student every 26 seconds or 7,000 a day.
As the price tag on college is shooting up and the amount of federal funds are minuscule in comparison, students are relying on private loans to cover their education (McGuire). Increasing federal funds would drive the need for private student loans down substantially, eliminating one of the biggest problems in the student loan crisis. A lack of private loans would mean a lack of sky-high interest rates that cause many borrowers to default on their payments. Student loans aren’t tightly regulated in terms of protections around interest rates and default which allows lenders to “[treat student loans] more like credit cards, with variable interest rates as high as 18% and terms set by the lenders” (McGuire). These unbelievably high-interest rates are what cause a big problem when repaying student loans.
Many families end up stressing over saving enough to pay for college for their children that they become obsessed with it. They start creating strict budgets that allow for almost all of their money to go into the savings account for college. As many have said, money is one of the top reasons why marriages fail. Arguing over trying to find money to put their children through college has made a lot of marriages fail. Having free higher education, as people would argue, would remove all of this stress and strain from families when it comes time for their children to go to
The rising cost of college has three main effects; debt through student loans, less people attending college, and an increasing number of college graduates moving back home. Raising tuition year after year will cause a drop in applicants and affect current students’ retention rates. That is because tuition is already at an all-time high, making it harder for underfunded students to even think about entering higher education. Overtime students have grown increasingly frustrated with tuition rates. That is because in the past 20 years, "tuition increased twice as fast as the overall cost of living”
Although one might say attending college is a good thing, it can also be a bad thing. Parents can be proud of their kids for going to college, but some think college is not worth the time and benefits. Parents work really hard for this money and what happens if the student fails and drop out from college. What happens if you don’t do well in college and you don’t get a degree. Some parents think earning a college degree is useless especially if they are paying for your tuition.
I personally have felt this way in college with the last semester I took. At times my stress level with all of my assignments was too much and made me second guess if all of this stress and money going towards the work I was putting in was worth it. As a college student, I’ve hit rock bottom to the point where I’ve wanted to quit, but then I realized once I finish all that’s required for my degree I will have
Debt has been a big factor in why students and teens don’t attend college after high school. Based of this research from TICAS.ORG “ Student debt and the Class ofl 2014. 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. Debt is a very prime factor in why these young students look away when it comes to going to college. Because most of these students only have one job or maybe don’t even have a job at all so paying for college loans can be very stressful for these
Within the recent election before the candidates were chosen, the majority of youths supported Bernie Sander and his stance on free college. Cost of education is such a trying challenge to this population that most drop out, have break downs trying to cover the cost, or nearly kill themselves working as much as possible. Previous college generations this was not such a problem, for one could hold a part time job and pay for school, but now one can work part time and barely cover groceries. While most young people do worry about money, college students worry with several thousand dollars of tuition also staring them in the