Tuition Cost: Student Debt Rising In Higher Education

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.

As a mother of four, a large number of the social problems described in the text can and does directly relate to myself, as well as, my family especially regarding the matter of education. However, the problem directly affecting my family and I is the emerging social problem of rising student loan debt. Student loan debt is a problem that has begun to seep into the very mainstream of society as more and more individuals attend college, especially those with great financial needs. Personally, I am lucky to say that I do not need to borrow money to attend IRSC which has been a major blessing that has allowed me to better my education. Unfortunately, the same cannot be said about my husband, who graduated from Florida State University with student loan debts around $30,000 dollars. $30,000 dollars is a relatively average amount, according the Institute for College Access and Success(TICAS) 70% of college students graduate with student loan debt, with an average of $28,950. While this amount is overall average in our society, combined with the costs of raising four children, as well as, having only one working family member who makes a relatively low salary as a school teacher, it puts significant financial strain on my family. Rising student loan debt just doesn’t affect my family and I, it affects millions of Americans, especially those who are poor and cannot afford college. Rising student loan debt is a societal problem that is hampering millions of young Americans

“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 sudden rise of college tuitions began right after the recession in 2008. Many people lost their jobs, and their current jobs were not paying well enough for them to survive through this devastating time. More people turned to higher education and college tuition began to rise because obtaining college majors will guarantee a higher pay other than minimum wage. This downturn didn’t end here because over the years, tuition rose even higher. In 2014, the debt for college students reached to 1.2 trillion dollars, that is an eighty four percent major increase since the recession. It is very difficult for every individual to repay their entire college tuition on time because their job may be underpaid. If you begin to miss your monthly payments, there will be several consequences right ahead of you.

College cost more money each year and will continue to rise in price needed and textbooks will do the same. Private student loan debt is a perfect example of this it was on the rise, $6.2 billion was borrowed in 2012-2013, up from $5.5 billion from2011-2012. In

Thousands of American University students are drowning in debt, furthermore statistics indicate student debt currently tops 1.3 trillion dollars and rising. Grads1st consider the unsettled debt currently exceeds outstanding mortgage and credit card debt.

In recent decades, student loan debt has increased dramatically causing a so-called, “education bubble”. This ‘education bubble’ is essentially the ‘housing bubble’ within higher education. The Federal Government, like those in the housing market crash in 2008, are lending money to those who receive a low income and can not afford college. According to The Weekly Standard, “the Federal Reserve Bank of New York reports that during the past decade, student loan debt has nearly tripled and the number of students with debt has risen by 70 percent” (Cochrane). The Federal Government needs to decrease the amount of loans they are giving out in order to prevent another crash within our economy. As a senior in high school who will not be receiving

In 1965, the President of the United States Lyndon Johnson signed the Higher Education Act of 1965. This allowed for many things needed in the higher education system, one of them being low interest loans to students who need financial assistance to get through college. This is where the debt problem begins, but does not get out of control until the most recent past decade. Some of the drastic increase of debt can be contributed to more people going to college, but can also be contributed to state schools receiving less money from their respective states and needing to raise tuition and all other fees to cover the difference. Schools do have other justifiable reasons to raise rates as well, such as utilities, upgrades to the campus upon requests of the student population, employee wages, no one is willing to work

Average student debt keeps steadily increasing. Student loan debt is increasing because government grants and support for postsecondary education have failed to keep pace with increases in college costs. The government no longer carries its fair share of college costs; so much of the burden of paying for college is put on families. Even though the government gets a big increase in income tax revenue from college graduates, students still have to worry about how they will off their loans (Kantrowiz).

Tuition and student debt at colleges and universities in America have been rising far more quickly than inflation for over four decades. This is a trend that will continue without intervention. Student debt drastically affects students’ lives and decisions from getting married, to buying home, or to starting a business. The amount of debt held by students after graduating not only negatively affects the individual, but the economy as well. Loads of economic activity is currently halted by students working to pay off their loans. This is a consequential problem and the increasing number of student debt in America must be addressed.

Student debt is one of the top causes of crippling debt. If you want to get a college education in today's world, you will need to either be very wealthy or suffer the consequences of student loans. College costs had risen five hundred percent since 1985, imagine how much more that has risen until 2016. A tuition at a private college was projected to cost $130,000 on average for over four years. As state cutbacks in the wake of the financial crisis, caused the cost the price of public higher education to raise by 15 percent in a two year

There are several governmental issues facing the American people in this day in age. Many of these issues have come to the fore front during the Presidential Campaign of 2016. One of the most popular and important issues in the United States is student loans. Colleges are full of expensive fees such as tuition, textbooks, and room and board. Many college students can’t afford to pay all of these fees and are forced to take a student loan. However, the interest rates on student loans are rapidly increasing each year. This leaves many college graduates in the open world with great debt that takes a long time to pay off.

off their debt than there are a few more problems that start to come up. Help and make

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.

The irresponsible spending of the government and cuts to education are the main cause to the high tuition rates at colleges in the United States. New improvements and new advancements in colleges and universities alike create the need for more spending to be put on colleges to keep up with these new advancements