Did you know that the cost of college education is on the rise once again? Did you know that it is estimated to reach 6 figures by the year 2025 four years of college will cost over $80,000? Did you know that college loans are at an all time high? After High School, several students and parents consider college the next step in life. They have no idea about the dark side of college that is lurking just around the corner. Each year thousands of students embark on a journey to college in order to get an education, but is a degree worth it?
In “College Costs out of Control Forbes takes a deeper at the rising costs of college students. Education is considered to be “the great” equalizer amongst Americans. Education has the power to allow people to transcend their socio-economic status and become something greater then they imagined. The article focuses on the relationship between wealth and education. If you only have a High School diploma then you are least likely to be a CEO and make 6figures a year, instead you get less than the average salary. This creates a correlation between wealth and education. The higher the education you achieve the higher wealth shall be achieved. This concept has been around for several decades and is still prominent in our society.
This article also brings an emphasis on inflation. Inflation is one of the main reasons why tuition continues to rise and soar. It has risen 500% of the past decades. This is why your parents all way say, “When I went to school, it was cheaper!” This is because it was. Inflation has driven the cost of college to increase up to 7% per year. This number may seem low, but in retrospect 7% can be a hundreds of dollars per academic year or semester. Why is college so expensive? The answer is… us! More students are attending universities due to the economy. There are other reasons why students are attending college more than ever. Americans are no longer working on farms with their parents and working in factories doing service jobs. To accommodate this rise in college students, colleges have increased their tuition costs. The higher the tuition then less students can attend and the school can afford to have large number of students attend.
The cost of college is outrageous and something needs to be done about it. College increase prices to accommodate and what do the students get…DEBT! In May I am graduating college and I am graduating with more than just a degree. Over my time at Longwood, I have accumulated student debt. Is there any way that students can be relieved of debt? Are we just doomed to pay the price for wanting to better ourselves? Graduating in debt is a scary thing because my life hasn’t begun and I am in the negative. I don’t understand why people consider debt to be a “normal” thing. It is burden placed on students in a time when a job is not guaranteed right after graduation. Four years or more of hard work and all you have is a piece of paper and a negative bank account. I want to investigate this problem further, I hope there is a solution to this growling problem.http://www.youtube.com/watch?v=IfNGae9bI0g