Costs And Challenges Of College: The Rising Cost Of College

Check out this great podcast episode on how to plan financially for a college education. It has helpful tips and questions to guide parents in the ins and outs of Taming The High Cost Of College.

Higher education has been known by many Americans as a luxury for only those who can afford it if not being forever in debt with student loans. The price of higher education has been in debate for many years but it still has not ceased to come into an agreement. Should higher education lower its price or is it worth paying for it? As Andrew Hacker and Claudia Dreifus argue in their article “Are Colleges Worth the Price of Admission?” there are colleges worth mentioning about how successful their financial management has been correlated with their students success. The issue has also come into attention for Sanford J. Ungar, as he explains in his article “The New Liberal Arts,” although liberal arts education may be have its misconceptions, it does pay for its price. Hence, higher education (whether from a regular university or a liberal arts college) is worth the price, as it prepares individuals for the real world more than any other kind of education, it is an unique time were students are allowed to explore and put their abilities into test and it is the opportunity for many to overcome the many obstacles life has to offer.

Kris, a wife and a mother, worries about the increasing cost of higher education. She and her husband have a two year old daughter whom they are determined to send to college. They want their daughter to succeed in life, but they have to weigh the complications of going to college as well. “I have always thought about college as a “catch 22”...You’re taught from a young age that in order to achieve the “American Dream” you must graduate high school and go to college,” Kris contemplates (Kris 5).Throughout Kris’s ten years of experience with college, she has seen the tuition increase to shocking heights. In fact, she claims that community colleges cost as much as state colleges did when she first started her college hunt. Back then, she

“College Prices Soar Again!” “Budget Cuts Cause Even Higher Tuition!” “Higher Education Now Even Less Affordable” These are all statements that have been seen all over the media: newspapers, magazines, television, and radio. (3 SV: SV) Rising college tuition in America has been a problem for years. Many students drop out after a single year due to the pricey costs of tuition. The rapid rise can be attributed to many aspects of the economy, not just a single source. There have also been some propositions of how costs could be lowered, but these have yet to be seen. The United States has gone into a tuition crisis.

The increasing cost of higher education in the United States has been a continuing topic for debate in recent decades. American society emphasizes the importance of education after high school, yet the cost of higher education and advanced degrees continually rises at a greater rate than inflation in the 1970’s. According to the Advisory Committee on Student Financial Assistance, cost factors prevent 48% of college-qualified high school graduates from pursuing further education (McKeon, 2004, p. 45). The current system requires the majority of students to accumulate extensive debt with the expectation that they gain rewarding post-graduate employment to repay their loans.

The presidential race is now consuming America. It is mentioned every morning in the news and in every “scroll” through social media. While important topics such a national security, national debt, and international affairs are brought up constantly in the debate spotlight, higher education is a topic less discussed. However, each presidential candidate has a specific, strategic plan to tackle current issues in higher education. The main issue that candidates believe should be addressed includes college costs and how they impact student debt. Each candidate has a different stance on the issue, and each have a plan to move toward solving the issue. This review will cover the current issue of student debt and how that is impacting America, each presidential candidates strategic plan to tackle this issue, a critique of each presidential candidate’s plan, and a reflection of solutions presented. Each candidate running for the 2016 presidency deserves full recognition, this review will focus on the two leading presidential candidates: Hillary Clinton and Donald Trump.

The U.S. is home to some of the greatest colleges and universities in the world. But with an overwhelming 1.3 million students graduating with an average student loan debt of $29,000 each and with youth unemployment elevated, the question of whether or not college tuition is worth the money arises (The Institute for College Access & Success, 2013). Higher education faces intimidating challenges: continually rising costs, access and completion problems, constant changing of technology, and responsibility pressures from state and federal officials. But no challenge is more intimidating than the fundamental question that many Americans face to ask themselves, "Is college worth the cost?" As a result of the economic turn down, many students who graduate are not finding well-paying jobs, either within their field of study or not.

The increasing cost of higher education in the United States has been a continuing topic for debate in recent decades. American society emphasizes the importance of education after high school, yet the cost of undergraduate and advanced degrees continually rises at a greater rate than inflation. According to the Advisory Committee on Student Financial Assistance, cost factors prevent 48% of college-qualified high school graduates from pursuing further education (McKeon, 2004, p. 45). The current system requires the majority of students to accumulate extensive debt with the expectation that they gain lucrative post-graduate employment to repay their loans.

Horn, Laura J., Xianglei Chen, and Chris Chapman. "Getting Ready To Pay for College: What Students and Their Parents Know about the Cost of College Tuition and What They Are Doing To Find Out." (2003).

There is no escaping the fact that the cost of college tuition continues to rise in the United States each year. To make it worse, having a college degree is no longer an option, but a requirement in today’s society. According to data gathered by the College Board, total costs at public four-year institutions rose more rapidly between 2003-04 and 2013-14 than they did during either of the two preceding decades (Collegeboard.com). Students are pressured to continue into higher education but yet, the increasing costs of books and tuition make us think about twice. Sometimes, some of these students have to leave with their education partially finished, leaving them with crushing debts. It is important to find the means to prevent these

The cost of attending college has risen drastically over the years. Statistics show that there has been a 260% increase in tuition costs since 1980. The increase in tuition cost equates to an increase in money borrowed to fund higher education. An increase in money borrowed results in an increase in debt accumulated over time. As a result of the rising figures, the economy as a whole has also suffered because of the restricted financial space many graduates find themselves in upon completion of their degree. In this paper, we will discuss college costs, reasons why they have risen, and the best way for students to pay for it.

The cost of tuition for higher education is quickly rising. Over half of college freshmen show some concern with how to pay for college. This is the highest this number has been since 1971 (Marill and O’Leary 64-66, 93). The amount of college graduate debt has been rapidly increasing also. With limited jobs available because of the high unemployment rate, college graduates find themselves staying in debt even longer. Although grants and financial aid are available to students, students still struggle to pay for their college tuition. Higher education costs are prohibitively expensive because the state’s revenue is low, the unemployment rate is high, and graduates cannot pay off their student loans.

Today colleges are growing more and more necessary for attaining a solid path towards a successful career, yet the rapidly increasing cost of tuition is driving students away from their dream of attending college, due to the preposterous amount of money that is now being demanded by colleges across the nation and world as a whole. It is sad to see students being turned away from a successful future due to the money-hungry nature of the universities that dot the globe. More and more impossible it is becoming to have a “rags-to-riches” scenario that used to highlight the American Dream, as if a student doesn’t have the riches to afford a higher education and the tuition that is drug upon its coattails, then our society is doomed to be clothed in rags forever, unless major changes are brought about to restructure and end the indefatigable growth of tuition rates across the board.

College tuition has been an increasingly intense topic of discussion over the years. The costs of higher education have been debated by many people, and it has been discussed as to whether costs are becoming too high for students to afford. College has become more and more popular, and now as many as 20 million students attend universities reported by The National Center for Education Statistics (1). The value of a college degree is immense, but college tuition is becoming too expensive for students to afford, and furthering the problem are students’ lack of knowledge on how to pay and earn money towards their college degree.

In addition to the social aspects, college teaches how to develop independent thinking. It also “exposes future citizens to material that enlightens and empowers them, whatever careers they end up choosing” (Menand, 3). However, most students today perceive college fundamentally as a party scene and various forms of entertainment instead of focusing on school work. They have forgotten about the academic freedom provided by receiving a proper college education.