College Expenses : The True Nightmare

1669 Words Aug 20th, 2015 7 Pages
College Expenses: The True Nightmare
As a child, the road to adulthood seems like a beautiful dream. They could not wait to be adults and earn the pride and respect they rightfully deserved as children. As we grew older, we became more frightful of being adult. There was no joy to having to pay taxes. We couldn’t find happiness in our debts. Growing up meant having an education forced onto them, but after the mandatory years were done, we had to pay for an education society deemed as necessary. Finances are a huge part in our college life and any life afterwards, which is why learning about and applying for financial aid, understanding financial stress and its consequences, and how to manage your finances will lead you into a more successful life overall. Before one can attend a college, one must pay for a tuition. Depending on your choice of college, it may run from $12,600-$35,000 per year on average (Wei 3). There are many personal reasons to why student debt has gone up, but the cost of college has also risen. For many public and private institutions, the costs of education have increased exponentially, while incomes and government aid continues to struggle to keep pace (“Money Matters” 5). This is because state funding has declined from almost 60% of college revenue in the late 1980s to slightly below 40% today (Department of Treasury with the Department of Education 4). The breakdown of college’s total income is: tuition 40%, federal government 12%, state…
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