College Tuition Costs
“College Tuition rates are 2 ? times over the inflation rate at an average of 59,8005 dollars” according to Steve Odland, a professor at Lynn University who received a baa from Norte Dame University. If post-secondary education were in fact growing at the same pace, as the inflation rate, tuition would be 383,000 dollars less than it is presently. Are there other alternatives are available such as scholarships, grants, and loans? Yes; however, the competitive field to receive scholarships, loans, and grants is quite difficult to obtain, because there is to many people and not enough space causing prices to increase dramatically.
Several middle-class and lower class American citizens feel that tuition costs are expensive, and like myself, are taking advantage of early college programs to receive credit and lessen their debts in the future. These programs allow high school students to receive an associate’s degree while attending high school and working towards their high school diploma. Colleges have been around for centuries such as Harvard established sixteen years after the pilgrims landed on North America and Charity School of Philadelphia established by Benjamin Franklin.
The style of education differs back then compared to the system we have now, however these two systems altered a tremendous amount. Although loans, grants, and scholarships are readily available, the expense of post-secondary education has lowered contingency of civilians following the American dream or holding a stable job. Many people are uneducated, making them prone to receiving lower salaries in a given week, year, or lifetime because college tuition costs are increasing at high rates.
How educated a person is has a direct correlation with how much money people receive on their paychecks and salaries . According to the National Census Bureau “The unemployment rate for someone with only a high school degree is 8. 3 percent and they earn approximately 652 dollars a week. The unemployment rate for someone with a bachelor’s degree however is 4. 5 percent and they earn about 1624 dollars a week”. This shows that people who have a higher education receive higher salaries and lower their risk of becoming unemployed . So why not get your college diploma?
Some people cannot afford an average tuition of $29,400 dollars for a high quality education making them venerable to risking not having a stable job in their future. More and more people will be left without jobs because they simply cannot afford the education they demand or desire. Pro Con. com authors argue that it is estimated “by the year 2018 about 63 percent of jobs will require a college education or degree”. For Americans who are not able to afford a college education they will be unable to get those jobs, and could become unemployed or receive lower salaries.
College tuition is becoming increasingly more expensive making it tough for lower-class Americans citizens to be employed or receive high salaries. The American dream lingers primarily that people raised in a lower class setting, brought up in low quality of living environment, can dream and wish to reach up out of lower class and on up to a higher class with an education. Although this is possible, College prices are uprising making it strenuous for lower class Americans to afford a higher level of education diminishing people’s hope of being able to rise above their previous financial problems.
Charles Kold The former president of the Committee For Economic Development states “the amount of tuition loan debt exceeds the nation’s credit card debt. ” Someone who gets a discretionary(total amount of money a person has after spending their income on the necessities) and disposable income(The total an individual has after paying for the necessities) of only $1624 a week will likely not be able to pay off their college debts without facing a time of poverty. The price of college puts people in debt, which is the exact predicament student try to avoid and rise above.
According to Steve Odland “the price of college is growing four times faster than the Consumer Price Index. ” The consumer price index is a calculation of a group of goods and services that compare to each other, and is called the basket. The consumer price index is calculated by taking the change of cost of a previously chosen group of goods and services and averaging them to a present basket of goods and services. The price of college tuition is damaging hope for lower class Americans to rise above their poverty lifestyles.
Some counter my argument by expressing college tuition is covered in other forms of payment such as loans, grants and scholarships. Although, a loan can pass you by in college, loans can leave students in “3,000 dollars in debt” according to Claire Hilsinger (a well-known journalist for Forbes Magazine). This can burden a college graduates with poverty at some point in their lives hurting their goals for the future. Grants and Scholarships do not require money having to be paid back and are distributed to college students based on needs and requirements.
This may seem like a better way to lessen your tuition, but it is difficult to obtain grants in such a competitive economic climate. It takes time, research, and certain requirements to receive any scholarship or grant and can compare to a maze people struggle to get to their destination. There is several options colleges market to make tuition cheaper, but those alternatives put students in debt or take up an enormous amount of precious time. College tuition is expensive and should be lowered to give Americans a chance to receive a quality education.
One does not want to be in thousands of dollars in debt for a college education, so some choose not to attend college making it hard for them to keep or receive a job. Forty percent of states decreased their higher education spending last year, the most important factor in tuition increases. When University’s lose a source of money for them to be able to subsidize tuition costs is makes college expenses higher diminishing peoples opportunity to attend post-secondary education.
The American dream states Americans can be in poverty but have the option to rise above a low income, however if the college tuition is to high how is this an opportunity seeing as lower-class people cannot afford an education. The issue with paying for college lies with the lower class, but at the rate tuition is increasing the price will eventually become too high of a cost for the middle class to afford. Our children, grandchildren, and great-grandchildren may be excluded to receive an education. The price of an education continues to rise, causing unemployment to increase and diminishing the once known American Dream.