A college’s main sours of revenue in tuition money which as previously stated, is four hundred percent more expensive than twenty years ago. People who are seeking the traditional path into the work force are forced to pay these crazy high prices and are enticed by a pretty residential life and the thought of new found independents. The reality of student debt have not set in yet. Student debt is at an all-time high with an average of 29,000 dollars per student. Because of the tradition of going to school and the amazing residential lives, it can be easy to recognize the severity of the situation you are putting yourself in.
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.
After graduating high school, the majority of teenagers nowadays choose to continue their studies in college to attain a bachelor’s degree. There is no question that education is essential for our future careers. Unfortunately, I have noticed that not all students in my peer group are able to finish college. “Nearly one out every five students in America drop out of college by the first semester.” There are three main reasons for teenagers dropping out, them being: financial issues, academic struggles, and another simply being to start a career. Firstly, college as well all know is quite expensive and is continuously increasing in price.
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.
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.
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
If they don’t pay bills than they can end up being homeless, and if they can’t afford the food they can’t survive. This reminds me of an article I read on talkpoverty.com. They suggested that with the 170 billion in economic saving the government can pay for over 11 million jobs at a salary of $15,000 per year. I 100% agree with this idea. This can help save so many lives of people that are suffering from poverty.
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
Is College Worth the Cost ”If you get this wrong, it’s actually a mistake that’s hard to undo for the rest of your life.” (Wieder 2) Students spend on average $9,410 a year on instate college tuition and out of state is excessively more coming in at $23,890 a year. This merely covers the cost of tuition and even those costs are rising every year. Many students fall into debt trying to afford rising tuition and the cost of living, but is the price of the degree worth it? College is not worth the cost because it causes excessive debt, students do not graduate, and college degree does not guarantee learning or job preparation. A disturbing amount of students do not graduate college.
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
Initially, unlike other costs, college expenses are huge and span at least four years to come, making it difficult for destitute homes or families with several children to handle by themselves. Although student loan and scholarship might come to rescue at some point, it will still be limited. Students who cannot afford a payment could face a forced dropout or be subject to the choice of substandard schools where tuition is less. When that happens, it is regrettable to both of the student and the academia. On the other hand, a super talent pool definitely works to a nation’s favor as well.