The View From 2020: How Universities Came Back

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

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.

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

He makes a strong effort, aimed at creating a sentiment towards government, colleges, and student loans that will solicit change to the system in use today. Whether or not his endeavor worked is still yet to be seen 4 years later, as students today still struggle with the same problem featured in the article: vast amounts of student loan debt. Proposals of “free community college” by former President Obama, and “debt free public college” by Secretary Clinton, but America voted against such ideas. The question lingers whether or not the current administration will take

America’s education system has been in a state of distress for the past decade, but garnished headlines recently as the student loan debt crisis reached over a trillion dollars. In conjunction with that, tuition is no longer the only obstacle a student faces when considering their future. As generations come and go, universities have slowly, but surely, been angling their education in a way to favor profit over knowledge. Because of the new direction higher education models are taking, Magdalena Kay questions her readers, “is there a problem with students, with teachers, with administrators, or maybe

Texas Christian University is a private institution located in one of the nation’s largest metroplexes. Like many other privately funded universities, it has succumbed to one of the most concerning issues for millennials and their parents today: increasing tuition annually leading to the overall problem of student debt sweeping the country. Since 2010, tuition has increased by $12,580 for TCU students, creating an increasingly large burden for students who value a small-knit community at a university where professors know your name and you have a personal identity and not just an ID number. It’s important for Chancellor Boschini and the TCU Office of Finance and Administration to hear the worries of students and their parents, and to consider

In the 1980s a first-year college student could attend a public four-year university for $2,500 and a private university for a little over $5,000. Although, most of these universities are offering the same mediocre education from the last three decades; the cost of tuition has more than tripled for public universities and for private universities, it has gone up a staggering 85%. Canada holds an average educational cost of 5,974 and England follows with an estimated average cost of 5,288. In spite the tuition in the United States being more than twice that of its allies; the main problem contributing to the continuing rise of tuition are the billions of dollars owed in both federal and private student loans. Unfortunately, out of 15 countries the United States held the number one position when it came down to the cost of a higher education (including books, fees, room and board).With that being said, I will thoroughly explain in the following essay how student loans have affected the cost of tuition, compare US tuition to other countries, and analyze the average spending budget for most universities that prove to influence the rise in tuition.

Student Debt. Few words drive more fear into the hearts of parents and teenagers alike. With college graduates now owing more than $1.5 trillion in debt and nearly five million Americans in student loan default, borrowing for higher education is quickly spiralling out of control. Universities are one of the best places for wholesome instruction, but what good are these institutions when no one can pay for their resources?

The article “The financially sustainable university” by Jeff Denneen and Tom Dretler, speaks about the financial crisis that institutions face and outlines areas of concern that colleges need to focus on to make the change to becoming financially sustainable. Colleges and Universities have been the foundation of economic prosperity and the key to realizing the American dream (Denneen, 2012), however; the increasing tuition rates and student loan debt continues to plague them. There was a time when tuition increases were passed on to the students, however; no longer are students and their families in a position to fund their education as in the years before. These economic factors have made innovation and change necessary to survive (Denneen, 2012).

It is obvious to anyone who looks that the cost of a college education is rising at an alarming rate. Increased tuitions, decreased government funding, and increased institutional debt contribute to a $1 trillion student debt crises. These factors, along with critical mismanagement of funds on the part of Universities create an environment where education has risen at more than twice the rate of inflation. By examining educational institutions finances, we can begin to understand the problem, and how to solve it.

The cost of tuition at colleges and universities in the United States has seen a steady increase over last several decades. Since the 1980s, the list price for tuition has risen by roughly 7% per year, while the inflation rate has averaged 3.2% per year. The effect of this mismatch in the rise of the cost of tuition versus the average inflation rate has had monumental effects on the ability of students to afford a higher education. This, in turn, has forced more students to take out increasingly large amounts of loans, causing for the national student loan debt to grow to over $1 trillion dollars, more than total credit card

Studies show that the cost of going to a public university has more than doubled since 1988 and nearly half of adults aged 18 to 34 without degrees, cannot afford to go to college. The student loan debt crisis is real; most college graduates end up with an estimated, average of $28,400 according to “State by State Data” (1). This amounts to a new car while on the other hand Nicole Allan and Derek Thompson explain in the article “The Myth of the Student-Loan Crisis” (2013) that there is no such thing as having student debt, because it is a myth to scare people. In “The Myth of the Student Loan Crisis” (2013) Nicole

Higher education in California has been demoted into the “California is financially unable to provide enough support” category. This is absolutely unacceptable-without education there will be an increase in unemployment. According to Hans Johnson, California’s Master Plan for Higher Education “Established a set of principles and a structure that still largely govern the state’s tripartite system of public higher education. And the state’s economy is increasingly demanding greater numbers of highly skilled and educated workers” (Johnson 3). To meet demands, the quantity of students graduating is crucial; however, the state budget crisis leaves a burden amongst students when it comes to affording school. In order to balance out financially, California raised the cost of college courses and materials. This leads students to believe they should not continue with

The cost of college is rising and making it harder and harder for people to afford. It has now become a big issue in America. “The mother of all problems in higher education today is high tuition at public colleges and universities, which forces students into decades of debt…”(Wiener) Tuition has risen dramatically over the years and it is hurting graduated students and incoming students in different ways. Future students have to deal with paying high costs and graduated or past students have to deal with the student debt long after school.

Since the University of California exploded with distress, after the Board of Regents approved a “32 percent tuition increase for the 2010 academic year, a vote that would raise the UC tuition to over $10,000 a year” (Selingo). Since When did college tuition rise faster than inflation and when did we start feeling powerless providing ourselves with a better education? In addition, Higher education should not be a risky future investment; it should be designed to help the public good. Higher education has become less available to the public due to the economic downturn, defunding of the public education systems, and increasing tuition rates. We need a public education plan that serves the common well being; it is time for the United States to reflect and change our broken education system by allowing free online universities and community colleges to provide a four year degree, and reflecting on other countries educational systems that veritably favoring the public good.