Rising Education Costs Fewer students can afford to go to college because the government is decreasing funding to univeresities.

Why is the price of college increasing?

Many tuitions have froze throughout many colleges and universities. They are increasing due to added fees, that could range from gym memberships to fees that go towards the library or a expensive table for the entrance. College is acting less like a place to learn and more about the experience, which the students don’t oppose to, expect when they see the price tag. For instance, Jeffrey Selingo who is the author of There Is Life After College, stated, “In the past decade, spending on student services, which includes everything from mental health services to career counseling to staffing student recreation centers with climbing walls and lazy rivers, grew by more than 20 percent at private colleges and the top public universities.” Many high school graduates going into college like these services, and they can make a student more likely to pick one university over the other. Even if you plan for the initial price tag, there are surprises along the way that accumulate rather quickly. Ann Roach a mom whose oldest son goes to University of Dayton in Ohio believed, “It was, like, what is this?...It’s like buying a car. You think you have a price, and then they tell you, ‘Here’s a conveyance fee, or here’s a fee for $200 to put the license plates on.’ Nobody told us about these.” The added fees combined with the rising tuition as well is creating a real issue regarding young millennials that are looking to go to college or trying to pay it off.

Why is student debt such a burden?

Student debt is a big problem because having debt doesn’t let you move on with your life, by buying a house and starting your adult life. According to Kern Shau, the author of “Falling Behind to Get Ahead: The Millennial Student Debt Trap?”, “A college degree increases a person’s earning potential, makes it much easier to pursue a satisfying career and reduces unemployment. But degrees often come with an intolerable cost: oppressive debt that makes it more difficult to buy a home, save money, start a business and take care of a family.” Going to college is important for many reasons but for some the debt can make it difficult to start your life, and there are added challenges for women. According to “The Cost of Higher Education in America” from the college sen life, women with a bachelor's degrees will make around 45,000 a year - fully 10,000 less than their male counterparts. This is pretty startling and extremely important when thinking about student debt, many believe the government should be doing something about this.

IS THE GOVERNMENT GETTING INVOLVED?

So far many people have approached legislators about the tuition and that the government should give more money to universities which would make the tuition go down, bt so far not much has been done. According to Blake Flanders, who is the president and CEO of the Kansas Board of Regents, says, “I absolutely have concerns in terms of state funding for higher education. If we can increase state funding or at a minimum keep it stable – and that’s what our first priority is as a board – we can keep tuition costs reasonable as well, and offer more services to students.” If political officials are aware of what needs to be done by the government and has also voiced their opinion then more needs to be done on the issue. It just so happens that according to the Topeka capital journal, “Flanders noted that $75 million has been slashed from universities in Kansas over the past three years – $30 million of which came out of the budget in 2016 alone.” The government has reduced funds that were once for universities, even though many of the students and even the president and CEO of the Kansas Board of Regents, have spoken out about the government's lack of funds going towards universities. As stated by Jeffrey Selingo, in the Washington Post, “If the current trends continue, beginning in 2022 spending on higher education will reach zero in states such as Colorado and Alaska, and by the 2030s in South Carolina and Massachusetts.” With many states reducing funding that goes towards universities, some universities and colleges may not be able to fend for themselves without skyrocketing tuition more and making themselves more selective for future students.

How much student debt is there?

The national student loan debt clock ticks past $1.4 trillion, which has recently surpassed credit card debt. As stated by a “zen college life”, about the cost of going to a university, in order to pay for all this, 66% of all undergraduates take out 106.7 billion in loans and grants. 66% of that is student loans and pell grants paid for or backed by the US government. Thats a lot of money, not to think of fact that when students take out loans in order to pay for their college, they will eventually have to pay interest. Which means in the long run they will end up paying more money than what they actually needed. Student debt isn’t even all of it, student debt is what has to be paid back.What about the total amount of tuition and fees for each student, according to collegetrends.org, the average cost of attending an in state 4 year university will equal roughly $98,440 after four years.

How are families paying for college?

Many families apply for financial aid, by filling out their FAFSA, or by getting student loans to pay for what they can not and some students are going through small loopholes to make their debt less. There are a countless ways of being able to pay for college, even if it seems out of reach. Some are better than others, for example, according to the New York Times the most recent rate on student loans through June 30, 2017, is a fixed 3.76 percent. This percentage is what is added to the total loan, for instance if you can pay off a student loan of $50,000 in ten years, you actually end up paying $60,065.12 with a total interest $10,065.12. Some students are finding a way to get around some of these hefty student loans. As stated by, “High College Costs” written in The Record,“One proposal would encourage students to finish degree requirements in three years by attending summer school, thus saving a year of tuition. Another variation on this theme would be to let students earn degrees by attending a community college for three years and a four-year school for one. The normal pattern is two years in each. This idea would reduce a student's overall costs because tuition is lower in community colleges than it is in four-year schools.”These variations may save thousands of dollars, and still allow the student to get an education.

Glossary

Subsidize - Pay part of the cost of producing (something) to reduce prices for the buyer.

Legislators - A person who makes laws; a member of a legislative body.

Accumulative - Gathering or growing by gradual increases.

Millennials - A person reaching young adulthood in the early 21st century.

Tuition - A sum of money charged for teaching or instruction by a school, college, or university.

Inflation: A general increase in prices and fall in the purchasing value of money.

Works Cited Page

"Higher education shouldn’t bury students in debt." Cjonline.com, 20 Jan. 2017, http://cjonline.com/opinion/editorials/2017-01-20/editorial-higher-education-shouldn-t-bury-students-debt

"HIGH COLLEGE COSTS." The Record, North Jersey Media Group Inc., Oct 3, 2016, Retrieved from https://search.proquest.com/docview/1825210929?accountid=42214

KERN, SHAUN. "Falling Behind To Get Ahead: The Millennial Student Debt Trap?" ABA Banking Journal. Vol. 108, No. 3, May/Jun. 2016, pp. 30-31. EBSCO MegaFILE. http://web.a.ebscohost.com.proxy.elm4you.org/ehost/detail/detail?vid=3&sid=500c448e-d46d-40ca-83f7-807f334cd458%40sessionmgr4010&hid=4214&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=keh&AN=114671346

Jeffrey, Selingo. “Why the price tag of the college degree continues to rise.” Washington Post, 22 Jan 2016, https://www.washingtonpost.com/news/grade-point/wp/2016/01/22/why-the-price-tag-of-a-college-degree-continues-to-rise

Jon Marcus. "Tuition Freezes Are Not Actually Keeping University Costs Constant." The Atlantic. https://www.theatlantic.com/education/archive/2017/01/how-university-costs-keep-rising-despite-tuition-freezes/512036/

"The Cost of Higher Education in America." Zen College Life, http://www.zencollegelife.com/the-cost-of-higher-education-in-america/.

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