The debate on the cost of college has been on the rise in the past decades almost reaching fever levels. Policy formulators and educationist have raised concerns this issue. Some argue that the costs are expected and valid while others claim that the changes are not only significant, but profound and unfair. There is enough evidence that even with the inflation taken into consideration; the cost of college is by far too high. This paper seeks to offer the arguments on this issue with a focus to proving the truth behind the increased cost of college cost.
According to Michelle Jamrisko and Ilan Kolet (Aug 18, 2o14), the cost of higher education has increased thirteen times since 1978. Such has happened even with decrease in the number of enrollments and job creation in the market. Comparing the cost of college, the medical cost, food and the shelter, the college cost has taken the lead with up to 1225% increase since 1978.
What then has caused the increase? There are various reasons that have led to the upward increase in the cost of college education. First, the colleges have increased the cost of running. Each college in the recent past has undertaken to expand and upgrade to be in line with the 21st century requirements. It is worth noting that the changes in the society must be reflected in the college. Therefore, the colleges enter into upgrading programs building sport arenas, technical hubs, and research departments, among others. The cost is directly transferred to the leaners. The situation is worsened in the event that government subsidies are reduced. For the college to remain in operation, the student must pay more (Dylan Mathews, August 2, 2013). For example, Yale University even with a “full need aid’” an all-in one year study costs about $60, 000 that is too high for most of the students (Andrew Rossi, 2014).
It is argued that student ought to work on part-time base to pay their college fees just the way student used to in the past. Hoverer, with a careful scrutiny on the minimum wages and the cost of tuition, housing in the college, a student cannot meet the cost. It is imperative, therefore, that the cost of education is above the average economic abilities of the society. Due to this, the government has taken in to sponsoring some of the poor students through college since their likelihood to accessed higher education is hindered by the high cost.
The number of students who struggle to pay the student debt after school is alarming. On average, about 69 % of student from college have a debt averaging $28,000 (“the project on student debt,” 2014). From this data, it is clear that should the education be lower, there would not be more than have the graduates in debts even before working.
One wonders why people do not get contended with the cost of education as it is! The current cost of college education does not come without matching benefits. If the colleges remaining in the state they were in the past decades; the quality of education would decrease. It is, therefore, logical that they charge the costs that make them remain in operation within the current global standards. It is an economical sin that is very costly not to advances to keep in line with the changing trends. Moreover, the college graduates have higher changes of getting jobs than high school graduates and hence they benefit more from the college education than the rest in the job market.
They are also awarded higher salaries that can help them to pay the student debts in case they took federal loans. It is unreasonable for the college student and by extension anyone else to expect the high demands of training in colleges goes unpaid for. For example, the student require postmodern training facilities, technological innovations, top notch tutors, good accommodation, and well equipped libraries that enables the student to work in diverse fields after college. Who should pay for all these equipments? Definitely it is the students!
The student debt is not necessary brought about by the high cost of college education. The increasing life-styles demand by the student leads to the need to have a loan. Some students take loans, not because they are needy, but to support a luxurious life-style in college. Others enroll in private colleges that are very costly as they must make profits (Hans Johnson, Marisol Cuellar Mejia, David Ezekiel, and Betsey Zeiger, 2013, p.5), instead of attending the government colleges that are cheap. The problem on debt, therefore, is arguably a personal choice and problem.
In conclusion, it is evidently clear that the averages cost of college education is high. Such has barred many from accessing the college education while others enters into debts from the federal student loans. Nevertheless, the college education is worth paying for since it makes the college graduated to have advantage over the other since the job market. They have higher salaries, and can service their loans easily. It is their choice to get the student loans either by attending private colleges or to live a luxurious life-style in college. Lastly, the job markets needs all; the college graduates, and the high-school graduates. However, from whatever point one views this issue, the negative effects are more than the positive effects.
Michelle Jamrisko and Ilan Kolet. College Tuition Costs Soar: Chart of the Day. http://www.bloomberg.com/news/2014-08-18/college-tuition-costs-soar-chart-of-the- day.html on November 24, 2014
Dylan Mathews. “The Tuition is Too Damn High, Part III — The three reasons tuition is rising”. The Washington post. August 2, 2013. http://www.washingtonpost.com/blogs/wonkblog/wp/2013/08/28/the-tuition-is-too- damn-high-part-iii-the-three-reasons-tuition-is-rising/ on November 24, 2014
“The project on student debt.” 2014. http://projectonstudentdebt.org/state_by_state-data.php on November 24, 2014
Andrew Rossi. “The Price of College Has Increased 1120 Percent Since 1978, So Is It Worth It?” The Daily Beast. 2014. http://www.thedailybeast.com/articles/2014/01/24/the-price-of- college-has-increased-1120-percent-since-1978-so-is-it-worth-it.html on November 24, 2014
Hans Johnson, Marisol Cuellar Mejia, David Ezekiel, and Betsey Zeiger. “Student Debt and the Value of a College Degree”. June 2013. Accessed from http://www.ppic.org/content/pubs/report/R_613HJR.pdf on November 24, 2014.