Is further education worth the price tag?
Students nationally, dread the idea of college, but it's not necessarily the difficulty of studies that intimidates them. Instead, it is the idea of paying thousands just to attend, not including living conditions and other necessities, and being in debt for that education. The tuition system in our country needs to be reformed to be more affordable and convenient for scholars as the average in-state tuition cost for four years is $20,770 per year. This amount could take a huge toll out of your finances now and in the future, but the worst part is that there's a possibility you will be unable to pay this debt off. The workforce is intensely competitive and newcomers lack the qualifications that experienced
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This is supported through another U.S. News and Report article that mentions how an average payment plan is for 10 years, but is extended an upward of 21 years for the average bachelor's degree holder. Debts, such as these, are a consequence of tuition being too inflated and not being handled properly, but can be better managed if prices are lowered. As a result of lowering tuition, a question arises about where would these institutions get enough to support maintenance and upgrades. Admittingly, this proved to be a difficult solution to find, but campuses could rely more on students to fund their own activities, such as fundraisers, while at the same time switching to ways of teaching more effectively with technology as it out-dates slower than hard books. Taking such measures would lessen the burden placed on students and ensure a better quality of …show more content…
“Why Are Low Income Students Not Showing up to College, Even Though They Have Been Accepted?” The Hechinger Report, 3 Nov. 2015, hechingerreport.org/why-are-low-income-students-not-showing-up-to-college-even-though-they-have-been-accepted adipiscing elit, 1998. Print.
Bidwell, Allie. “Student Loan Expectations: Myth vs. Reality.” U.S. News & World Report, U.S. News & World Report, www.usnews.com/news/blogs/data-mine/2014/10/07/student-loan-expectations-myth-vs-reality
Boyington, Briana. “See 20 Years of Tuition Growth at National Universities.” U.S. News & World Report, U.S. News & World Report, 20 Sept. 2017, www.usnews.com/education/best-colleges/paying-for-college/articles/2017-09-20/see-20-years-of-tuition-growth-at-national-universities.
“How Much Does It Cost to Study in the US?” Top Universities, 1 June 2018,
Many college graduates are facing unemployment, leaving students and parents to question if college is worth the cost. The answer is no. Student debt has significantly increased. “If you get this wrong, it’s actually a mistake that’s hard to undo for the rest of your life”(Peter Thiel co-founder of PayPal). Peter Thiel is explaining that today 's students are taking on much more debt, due to recently tightened bankruptcy laws that have made it more difficult to get out of debt.
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.
College Debt: Myth or Not? Many people have stated that student loan is a crisis. Because of this being stated, there are many high school graduates who cringe at the fact of going to college. The rumors of debt have led to many changing their minds about college. One should not change their mind due to the debt myths because in the outcome they will earn more money from their higher paying jobs.
Students from low-income families are often forced to take out loans to finance their education, while students from wealthy families are able to pay for their education out of pocket. This perpetuates inequality in our society and limits opportunities for those who are already disadvantaged. According to education data over 25% of students who took student loans are unable to start their own business, a major route to improve their financial standings. Lastly, the loan system for college education in the United States is not effective in promoting educational attainment.
Is college worth the cost? College would be worth the cost or not, maybe because you need to find a better job or need more money. Also getting great benefits for your life and aso a healthful life for yourself and others. I would get paid twice as much if I go to college. In the article “College Is Worth the Cost,” Brooks C. Holtom states, “ People who graduates with bachelor’s degree will earn nearly twice as much over their course of their carriers as those who complete on high school.
Just how awful has the student loan strain become? Rhetoric of crisis influences the present popular discourse, while very few voices call for tranquil, noting the average number of student indebtedness is approximately equal to the cost of a new car. concealed by the aspect and attention captured headlines, though, it is a more embarrassing picture exposing that all classes and groups of students will not bear the increasing debt hardship equally: women, students of color, and Low-income household students are more greatly affected by this escalated debt. I have currently revealed the 30,000 dollars is the typical amount of debt that students will acquire after attending college for four years. Though the cost of college is increasing, a variety
The total U.S. student loan debt now surpasses $1.2 trillion and there is more than 40 million recipients owing on federal and private student loans (Malone). Most of the college students in the United States can’t afford their education by themselves and, as a result, students end up drowning in student loans in order to earn a degree. Student debt is a major problem in the US, and it is a major influence on the gap between rich and poor. A more accessible college education would help reduce the gap between rich and poor in the United States.
Make College More Affordable In the past 30 years, college tuition for private institutions has increased by 146 percent, two year colleges rose by 150 percent and state four year universities by 225 percent (trends.collegeboard.org). Because of these drastic increases in tuition, college is becoming more unaffordable for the average American. People are starting to question if college is worth the expense. According to Washingtonmonthly.com, state support for public colleges and universities has fallen about 26 percent within the last 20 years.
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.
Since tuition has risen 3 times higher the rate of inflation in the past 10 years, this increase a student’s chances of not being able to afford higher education and also gives them a better chance of accumulating debt post-graduation. Some people think that the college education they acquired did not fit the amount they paid for it, even if they pulled out loans or were an ideal candidate for a scholarship. This is a scary fact because higher education can determine if you thrive
In the world we live in today. Going to college is no longer a choice, or privilege, but rather a need for a brighter future . So the big question that happens to be going around is, “Is College really worth it?”According to Andrew J. Rotherham’s article “Actually, college is very much worth it.”, “5 Ways Ed Pays”produced by (The College board), and “Why College Isn't (And Shouldn’t have to be) For Everyone” written by Robert Reich. The answer to that question is yes.
Unless you have millionaires as parents, this is a big chunk of change that will take a lot to be paid back. Today, students are forced to take out student loans and that is what hurts most students down the road. According to the American Student Assistance website, the total outstanding student loan debt in the United States today is between $902 billion and $1 trillion. Approximately $864 billion is composed of outstanding federal student loan debt.
Student loan debt loads have been spiraling, doubling over the last decade, and the enrollment rates of young people from lower socio-economic groups are rising far slower than middle and upper groups. Governments must recognize the renewed public investment in post secondary education is an economic and social imperative. 6.7 million borrowers in repayment mode are delinquent (Snider 1). The sad fact is that many lenders aren't exactly incentivized to work with borrowers. Unlike all other forms of debt, student loans can't be discharged in bankruptcy.
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.
College is not cheap, a hefty fee is often payed by those who want to attend, often out of their own wallets. It is no secret that funding a college education is getting harder and harder. Thus begs the question, is the charge of Universities becoming too high? Yes, college costs have skyrocketed over the past decade (citation). Being capable of going off to a university to acquire an education is slipping for countless people due to the rising costs.