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.
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.
Because a bachelor’s degree does not ensure a stable income anymore, this debt can be crippling and make a person even worse off than someone who did not attend college or someone who pursued an alternative form of higher education. After all, in the article “Plan B: Skip College”, Jacques Steinberg states that “of the 30 jobs projected to grow at the fastest rate over the next decade in the United States, only seven typically require a bachelor’s degree” (1). The quote illustrates the point that few people actually need to go to college to be successful, and only few areas actually require that level of expertise. This leads to the assumption that the only jobs that require a degree and are worth spending a great deal of money on, are the
A college level education has many perks. “Education is essential for personal and national well-being. We live in a highly competitive, global economy, and if our economy is to be strong, we need the best-educated workforce in the world. We won’t achieve that if, every year, hundreds of thousands of bright young people cannot afford to go to college while millions more leave school deeply in debt” ( Sanders). If every young person is
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.
In today’s society we regularly hear about the high tuition universities and colleges are demanding. In the span of one generation, how is it that graduating students are still unemployed? Could they be unknowingly causing a plummet and stagnating the economy? Tuition for both public and private colleges has tripled in the last four decades. We are living in an era where families are paying as much as six figures for their children’s higher education.
In today’s expensive world, it is a common trend that the cost of university education increases as the cost of living increases. Most countries offer free education through high school, yet many question wether university education should be free as well. It is essential to ambitious students to have a university level degree, but not free of cost. These people believe that “if you are good at something, never give it for free”, since anything available for free of cost is hardly valued. Thus, if university education becomes available for free, then students may not find it to be as valuable.
Although debt is a bad thing, it is not unavoidable for everyone. People will fall into debt because not everyone has a solid financial backing. More than seventy-one percent of students graduating from a four year college are graduating with debt (A Look at...) . Setting a cap would cutthat percent far down so the students would have a chance to break even with the income they receive after college. Because there is no student loan debt cap, colleges take advantage of this or they set the cap very high so the students will keep having to pay the college for years.
(Schanzenbach, Bauer, and Breitwieser, "Eight Economic Facts on Higher Education). Most jobs require workers to possess knowledge, skills, and abilities. “Without workers who have the right foundations, the United States will lose ground to countries that have prepared better for the demands of the 21st century workforce and, ultimately, the United States economy and security will be jeopardized”. (David A. Bergeron and Carmel Martin, "Strengthening Our Economy Through College for All"). Consistently the more people who get the opportunity to go to college, will result in an increase to the amount of new inventions.
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.
Explain any special circumstances including sources of income or hardship that you believe are not reflected in your FAFSA. (159/250) Even though I believe that my financial situation is accurately represented by the information provided in my FAFSA, paying for college is still an enormous hurtle considering students pay tens of thousands of dollars when earning their degrees. While my parents have planned ahead to be a major financial component in my education, scholarships and other sources of income will play an equally important role to pay for the long education process that lies behind earning a Ph.D. Not only have I been rigorously applying for scholarships over the course of my senior year, but I also have the option to use the skills I 've learned in high school to help finance my education by tutoring German and teaching Clarinet. Despite this, scholarships still play the most important role in financing my education because they offer me the immediate financial support needed to approach my
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
Justin Trudeau has been newly elected as the Prime Minister of Canada with his Liberal party. Unlike the former Conservative party, the Liberals are more radical, therefore the results of their actions taken to solve the economic problems will be hard to predict. With the Conservative party, it would take small steps in solving problems, therefore whether the results are successful or not, they would be mild and can be accepted more easily by the government and the people. But with the radical Liberal party, the results will likely be extreme. The Liberal party reduces the annual contribution limit of TFSAs from $10,000 back to $5,500, the reason for this reduction is that it wants to encourage people to spend more money into the market to fight the lack of money circulation in the society which resulted from the downfall of the economy.