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.
Have you ever wondered what life would be like with a free college education? Seventy-five percent of high school seniors are accepted to their first college choice or university, but less than fifty-seven percent can bear the expense to attend their first choice learning institution. In fact, ”two out of three college students have now graduated with student loan debt. The average tuition is three times higher today than in 1980.” “1.5 million, or about 53.6 percent, of all bachelor 's degree holders age 25 or younger were unemployed or underemployed in 2011.” (Gerber, "34 Depressing Facts About The Job Market For College Grads"). Furthermore As many Americans prepare for the next semester, homework is not the main problem on their mind, it
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. A chart that uses information from The U.S bureau of labor statistics shows that “The bottom quarter of earners with a college degree don’t make more money than the average high school graduate.” If someone is getting put in debt
In America, college costs have been growing at a rate faster than inflation for over a decade. The resulting student loan debt, most of which belongs to young people aged 22-40, is causing a lot of trouble for the whole economy. The average college student is graduating with $32,000 in student loan debt . Not only do they have to pay this back with interest, it affects them in other areas of their lives. Debt forces students to postpone life in several key areas including buying a house, getting married and saving for retirement.
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.
However, because of the ever increasing cost of tuition, unstable job market, the large number of students who have degrees, and the amount of time spent pursuing a bachelor’s, going to college should become more of an option than a requirement. People need to consider getting a specialized education that fits their skills better, rather than trying to fit in and get a bachelor’s degree just because it is what’s expected of them. And while college is well worth the money for doctors or lawyers, there is a limited amount of people that can pursue those professions successfully, therefore, alternative forms of education seem to be more and more valuable and will hopefully take over in the
“An important pathway to the middle class now runs through higher education, but rising costs are making it harder and harder for ordinary Americans to get the education they want and need” ( Sanders). Many student who’s families can not easily afford the cost of college often do not further their education after high school. Students that know that their family struggles with money already don’t want to ask for more so that they can go to college. As the cost of college has been on the rise many have talked about wanting to provide students with a free college education. Many bring up that the states grant their students with free public education till they complete the twelfth grade.
The meaning of the Pell grant is to help economically disadvantaged students received a higher education by reducing the burden of the tuition and fee costs, and thereby, increase college participation. However, these good intentions of the Pell grant have caused one profound and unplanned consequence; which is the contribution to growing tuition cost for public and private colleges and universities. Supply and demand are the basic concepts of economics, so it’s no surprise that the increasing demand for higher education brought on by the Pell grant will have the consequence of rising tuition. More importantly, though, when Pell grants are used to pay for college, students are not as concerned with the cost as they would be if they were paying from their own pocket. As a result, the law of demand
You now have skyrocketing tuition costs and loans. Totally wrong and unfair. As an example: Yale 's endowment is now $23.9 billion as of June 30, 2014, net of spending. The University benefited from investment gains of approximately $4.0 billion. Yet how many students will be able to EVER pay back their loans that go there.
When they go to start the path of finding a career, they find instead piles of debt from their education. So many student borrowers are falling further and further behind in their payments, postponing purchases of cars and places to live, or putting their social lives on a shelve. Jason Delisle, who wrote the New America paper, “blames skyrocketing graduate school debt on changes to federal loan programs that essentially allow grad students unlimited borrowing. The more students can borrow, the more schools can charge.” Americans almost universally believe that a college degree is the key to success and getting ahead—and the data shows that, generally speaking, college graduates still fare far better financially than those with just a high school diploma. But for those who are saddled
In today’s worldwide economy, there is a high demand for the best-educated post-graduate students in our industry. Hundreds of thousands of intellectually savvy students cannot afford to go to college, and those that can leave school with a colossal debt that haunts them for years after. As stated by presidential candidate Sanders, “That shortsighted path to the future must end. I will fight to make sure that every American who studies hard in school can go to college regardless of how much money their parents make and without going deeply into debt. This isn’t a radical idea.” We see worldwide that this burden of debt has hindered society for too long.
Various authors today are still writing about the ongoing issue of poverty and the ways to climb out of it. Brink Lindsey, the Cato Institute 's vice president for research, writes about not only the importance of a college degree, but also the financial strain it has on the families funding it. Brink Lindsey, has written that the income of college graduates has risen from below 50% in 1980 to 85% in 2008, and those without an education are barely able to attain a menial income, insufficient of their needs. “Tuition costs have galloped far ahead of inflation, while many in the working class have seen their incomes stagnate or slip” (Lindsey). “A lack of money is the