The Rising Costs Of College Attendance

1396 WordsNov 13, 20156 Pages
As we are experiencing a time of rising student debt and high unemployment, how do we define a “right price” for higher education and what value does it hold? Annually, the federal Higher Education Act (HEA) currently provides up to $38 billion in loans to postsecondary education, $14 billion for programs and more than $10 billion in Pell Grants are awarded to college students. The Department of Education administers policies that are inclusive of and accountability for all levels of the system and range from regulations to outcome-based education legislated by the HEA. Annually, the Act impacts over 15 million students. The rising costs of college attendance, directly implies there is a lack of understanding, management and appropriate allocation in the economics of higher education. While rising costs affects the impact the HEA has in education, families and students address their concerns of inequity and college accessibility for the economically-disadvantaged because as costs increases, selectivity increases concurrently. Around 2005, due to inflation adjustments, tuition and fees were significantly increased causing 4 year private institutes to grow by 36% and public institutes by 51%. In the Industry of Teaching, the product is students whereas the service is education. The Educational system aims to cultivate culturally responsible, academically inclined, critically thinking, professionally profound, ethically driven, knowledgeable collaborators, and effectively
Open Document