The Four Year Formula: A Look Into Further Education. 60%

As it is, there is about $1 trillion in college debt in America. A Philadelphia Enquirer article warns that, “The average debt owed per person is $25,000 -- the highest level of student debt in the nation's history,” and that the number is increased by tens of thousands of dollars for those who go on to get higher degrees. $25,000 is a lot but the reality is that a lot of people have even more than that. For example, what if someone goes to an expensive private college and their tuition is anywhere between 30 and 70 thousand per year. In total they could be paying between 120 and 240 thousand dollars per year. The majority of the country is most likely unable to easily pay for that and could end up with extensive amounts of debt just because they went to the college that they wanted to. Student’s education shouldn’t be compromised just because the school they want to go to has a high tuition. Alarmingly, “Study after study has shown the number one barrier to attending college is the published rate of tuition.”(Lowe) The amount of student debt as a result of a school’s high tuition should decide where people should go to school. If tuition is decreased then simultaneously, student debt would be as well.

In the article, “Should Everyone Go to College?” (2014) Stephanie Owen and Isabel Sawhill discuss how much money it is to go to college. The average upfront cost of four years of college is $102,000 and private schools have a lifetime earnings premium of over $620,000. They explain that among young high school graduates and bachelor’s degree holders, working full-time would be $15,000; 23-25 year-olds with a bachelor’s degree make $12,000 more than high school graduates. Premiums associated with a college degree grow over a lifetime. By age 50 the gap has grown to $46,500 and the total premium for a bachelor’s degree is $570,000, and $17,000 for an associate’s degree. Financial aid has a big role in helping students go to

The United States needs to look to other nations that have figured out the necessity of higher education to be at an affordable cost if not free. In 2015, college graduates are facing on average just north of $35,000 in student debt (Berman). In part, the government has reduced the federal funding that each college receives each year. Therefore, colleges have constantly raised the

College debt can stunt most students from pursuing their college dream and going to their school of choice. Students get scared of the word debt and the numbers that they would be dealing with outside of college. Students are putting aside going to their dream schools because of the fear of how much debt they will get into after college. There are many reasons why people don’t pursue college, or just from not being able to afford it. Students go back and look at not going to their dream college or college at all and regret not taking the challenge and going with what they always wanted to do. Some students experience not being in debt after college and why they think college tuition is right where it needs to be, but others will make shocking choices to not be in debt. College students are choosing not to pursue their dream college or college at all because of finances they would be dealing with after college, debt.

College has become a significant chapter in the lives of many Americans today. In most cases, to reach the well-paying and dreamed-of careers, students must have a bachelor's degree or higher in a certain field of expertise — typically from a university. While this is true, many students have realized that university-level education, even in-state, is not cheap. With tuition rates on the rise, college is beginning to be seen as more of a burden than an opportunity. Although scholarships and financial aid decrease the net cost of attending college, the majority middle class students are not equipped with enough aid to graduate debt free, or even close to it.

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.

Connection to Essential Question - This article connects to my college research in the aspect of methods that make affording college easier. According to the article, “At the average private college, for example, the sticker price for tuition, room, and board was $45,370 last year. But the average student actually paid $26,080, according to The College Board.”. This states that the average student ends up with debt after school

Many students today look towards the future scared and frightened debating their future, all of them asking the same question. Is a college education truly worth the cost and the amount of debt that a student acquires over a four-year period? Many ask what are they doing this for, a piece of paper called a degree. That’s what the articles “Five Reasons Why College is Worth the Cost,” written by Reyna Gobel and “Is College worth the cost? Many recent graduates don’t think so,” written by Jeffrey J. Selingo both address. The articles take different standpoints and views on the topic. Gobel’s article siding with the view that college is worth the cost. While Selingo’s article argues that college is not worth the cost.

The increasing cost of attending a four year college has made other students struggle to pay it off while still burring other students in debt. The net price for attending a four year college will likely rise in the coming years, since tuition is growing faster than the financial aid. Students are doing anything to avoid having to take loans or even pay back huge amounts of money. According to the Huffington Post, Jesse, a University of California-Berkeley student chooses to use the library instead of buying books, skips meals and sleeps five to six hours per night so he can take 21 credits. College students are doing

Families are now aiming low when it comes to college- or are simply not going at all. Money could play a huge part in this decision- after all, the cost of college has skyrocketed over the years, and so has the amount of student loan debt. This is something even Leonhardt admits, stating that, because of this, only about 33 percent of young adults get a four-year college degree today, while another 10 percent receive a two-year degree (Leonhardt). And even though many colleges offer financial aid packages, that money may soon be cut and the cost of college will continue to grow. It is true that, in my personal experience, just because a student is awarded financial aid does not mean they have a golden ticket to University. This leaves many desperate students the only option of taking out as many loans as they think they can handle- often more than they should. Debt is not a new issue for America, but it is still a problem. Although David Autor, an M.I.T. economist, laments: “not sending [young adults] to college would be a disaster”, no one can ignore the rising rates of loan defaults, and some think it

College is where you go to get higher sources of education. Many high school students dream of attending college in order to attain more knowledge, yet so many people fail to realize the cost of college. Attending college, currently, is nearly impossible to do without being in some sort of financial debt or seeking out government help. According to the American Association of University Professors, “two-thirds of American college students graduate with substantial debt, averaging nearly $30,000 (if one includes charge cards) in 2008 and rising.” (AAUP, 2012) Although going to college is beneficial, there is an argument on whether or not going to college is worth the possible debt incurred. The goal

Research has uncovered that debt aversion has been a steady factor amongst those who chose not to carry on to post-secondary education. 70 percent of high school graduates claim that fears of current and future financial standings spiraling out of control was a main factor for not pursuing a higher education, one in four people stated that accumulation of debt was the main barrier. Studies show that students from marginalized communities, low-income backgrounds, and single parents are more likely to have negative feelings along with being strongly hesitant toward acquiring student debt. (Students,

I’m saying that with two years of college, the time it takes to get an associates degree, more doors will be open to you with greater opportunities. I know what your thinking though what about the price, at lane it cost about $1,550 per term, and their are three terms a year, and let's say you're getting your associate's so that's two year. Anyone know what that will be by the time you're done? Well if I did my math right it cost about $9,300, not counting room and board. It goes up to about $12,400 for four years. That’s less than a Mustang. And unlike a Mustang education never depreciates. Education is an investment the more time a effort you put into it the more you get

Student debt is at an all-time high. Many college students and recent graduates may find themselves asking: "what's the point?" Why go to college if there is no guarantee of a great job, but you are almost certainly guaranteed to graduate with high levels of debt? But take a careful look at the statistics. While the unemployment rate for recent four year college graduates is 6.8%, the unemployment rate for recent high school graduates is nearly 24% (Webley 2012). Of course, there are many other reasons to go to college, such as personal fulfillment. But for those who are considering not going to college because of economic concerns, I advise you to think in the 'long term.'

Another statistics presented by Collegeboard shows that "In 2010 11, about 57% of public four year college students graduated with debt. They had borrowed an average of $23,800 (in 2011 dollars)" (Student Loan Debt Statistics). $23,800 is not a small amount to much of the middle class today, and unless graduating with a bachelor's degree increases the chances for employment, it's simply not worth it. In fact, a 2012 study from Georgetown University's Center on Education and the Workforce titled "Hard Times: Not All College Majors are Created Equal," shows that "Unemployment figures show the jobless rate for recent college graduates with bachelor's degrees has been running at an unacceptable 8.9 percent" (Loose). An average of $23,800 in loans to support a 4 year college attendance plus an unemployment rate that is above national average, " considering the national unemployment rate in March 2012 was 8.2 percent, according to the U.S. Department of Labor." (Loose) just points to the undeniable fact that joining the work force serves as a better alternative for students today. Students attending work force will have a solid advantage over college attendees by not only able to avoid the high cost for college tuition, but also developing practical skills that benefits their work experience.