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
It seems that more and more with the rising cost of education, that students have to rely on financing their education so that they can afford tuition every semester. This is no surprise as tuition has increased an average of 7% a year for the last couple of decades. Let's face it, college is just expensive. So unless we work 50 hours a week, or manage to get lots of scholarships and go to a cheap school, we're probably going to have to have some sort of student loan. Most of the time college students will get subsidized or unsubsidized Stafford loans.
Most students come to school on about $25,000 scholarship. Although they get that for four years in college it’s $100,000, that doesn’t cover everything that a person in college needs. The problem with that is that money is usually going to school supplies that are highly expensive. For example in the paragraph it states, a “$25,000 scholarship may seem like a lot of money, but it really only covers the basics. It covers thousands of dollars in mysterious, unknown university fees, tuition, housing, a meal-plan and multiple hundred-dollar textbooks.”
To illustrate, people can apply for scholarships and don't have to have a 4.0 average GPA, because there are a variety of them based on different criterias (10 tips, 9). Also, Free Application for Federal Student Aid (FAFSA) is given either by colleges, state agencies and scholarships. Also, there are different types of loans to which help students and parents specifically on what they need. Such as, Federal Perkins Loans which are fixed interest rate loans, Federal Stafford Loans which are low interest rate for whomever are attending college halftime, and Federal PLUS Loans that allow parents to borrow for each dependent undergraduate student who is enrolled in college at least halftime. Students should apply and complete the FAFSA in January because the sooner to apply the better chances on receiving maximum amount of financial aid.
Paying for college isn 't a simple process, but with the right resources, you can support your education in the best possible way. Let’s take a moment to figure out what options you have. As you prepare to go off to college, it’s very important to remember that the prices you might see listed for colleges is not the price you will have to pay. Most students will see these sticker prices and won’t even try applying for them.
That cost does not include room and board and a meal plan. To stay out of as much debt as possible a student needs to learn how to budget money. It would be wise to take multiple personal finance classes. Some schools are so expensive, yet, there are Junior Colleges that could give the same education and teaching and are half
Some college students are working part-time jobs and are full-time students. Perhaps, working through college will not always cover all of a student's education expenses including books, supplies, room and board. If free tuition is given, students will have further time to educate themselves. Moreover, college tuition and prices are at an all-time high. Each year, prices are rising higher and higher.
Parents should really think about all the extra costs that come with a college student. If tuition, housing and meal plans were lowered would there be more high school graduates deciding what college they like the most? The real cost of college is the tuition, housing and meal plans, and students struggling with keeping jobs and maintaining good
Many people dream of a life filled with riches, but that dream is hard to obtain without a college degree. It is somewhat ironic how people dream of being a successful student and going to college but the cost of tuition turns that dream into a horrible nightmare. It is not a shock to most people when they that college tuition is expensive, but in the past few years it has increased to an all-time high. Lower and middle class students have now begun to realize that college tuition is holding them away from their dreams. Even though college tuition could provide opportunities for job creation and economic growth, tuition is not affordable for the average American household which in effect, prohibits students from taking opportunities like going to college in the first place.
A person may apply for a student loan, financial aid, scholarships, etc(Alternatives). Although there is an abundant amount of options, not everyone may be qualified to receive one of these options. Therefore, they will not be able to attend college, making it hard for them to find a job that pays enough for one to take care of their family. It is coherent that colleges need money to pay for the essentials and the dorms. They also need money to pay the professors for working for them but, making someone pay for their education is not the way to do it.
Other college students struggle to pay for these things. The price of college is outrageously high and growing. Most college students accumulate thousands of dollars worth of student loans. It takes years for students to pay off their student loans.
The tuition and cost of college is detrimental to thousands of families across the country and brings student debt to future graduates. Some students have seen their debt climb over $30,000. Friedman writes, “The average student in the Class of 2016 has $37,172 in student loan debt…” (Friedman). With the debts being over the average income for single people households, college has transformed from a benefit to a burden. Young adults not only have to worry about their education but also paying for the next semester or years of college ahead of them.
In today society, people have placed a high value on education; many believed that with a higher education they could obtain a better job. Many jobs are now requiring employee to have some sort of educational degree. The cost of college has increase 3 times faster than inflation (Baum, Payea 7). Financial aid is defined in the Merriam-Webster as “money that is given or lent to students in order to pay for their education”(“Financial aid”). As a result, many students have to rely on financial aid to pay for their college expense.
This makes it harder for students to afford college at all. With the increase in college tuition skyrocketing it has made college less accessible to many. Many students looking for a post secondary education are no longer able to save enough money for school. According to the College Board, the cost of college at a public four year school today is approximately $9,139 per year. In 1971, the cost at the same public four year school was only $428 per year.
Society often believes college is a necessary experience for a better future, but I argue that the future will not be any better when student debt becomes a part of life for those who follow that mainstream belief. Most parents often dream of the great colleges and universities that their children will get accepted into; however, they fail to think of the cost to attend those institutions. Financial aids! Financial aids! Yes there are financial aids that students can apply to lessen the student debt.