Cost Of College Essay

735 Words3 Pages

Is getting a college degree worth it? Americans have their own opinion about going to college to get a higher education. Private and public colleges cost money each semester. Some Americans are going to back to school to advance in a college degree for more job opportunities. College students use financial aid and scholarships to cover the cost of college. College students ordered their textbooks online because it is much cheaper than paying like 100 to 500 dollars per book for each semester. Most students try to stay close to home, so they won’t have to pay for housing. The only thing financial aid and scholarships are paying for is college tuition and meal plan each semester. Avery and Turner (2012) and OECD (2013), among others said, “College …show more content…

Financial aid can’t fully cover the college expense. College students use the federal Parent loans for undergraduate students to pay for education expenses. The Plus program provides substantial financial aid for students. Approximately 13 percent of full-time dependent undergraduates have parents who have taken out PLUS loans, with each loan averaging almost $13,000 a year (Radwin, Wine, Siegel, & Bryan, 2013). Statistics show that, in 2011/12average in-state tuition and fees totaled to $6,000 for students at public HBCUs, compared with $7,500 at other four-year public institutions, and $15,500 at private HBCUs, compared with $27,500 at other private nonprofit institutions. There was some changes in loans having unpaid debts in collection or student loans written off as unpayable in the previous five years could also block the approval of PLUS loans (Doubleday, 2013). Parents who want to take out PLUS loans are required to reapply every year. Parents have other loans that they can apply for if they are declined PLUS loan which is unsubsidized federal direct loans. PLUS loan dollar amounts declined more at four-year historically black college and universities than at other universities between 2011/12 and 2012/13. PLUS loans declined $164 million while direct unsubsidized loans increased $15.7 million. One of the reason loans is decreasing Americans paying back loans after college and don’t need loans unless

Open Document