Rising College Tuition Costs Does the united states want everyone educated?

What is the Economic Impact ?

Colleges and their tuition impact the economy because the amount of money students borrowing to go to a university can have a negative effect. After graduating out of college a person may come out with debt. According to Kelley Holland, a CNBC news reporters states, “more than $1.2 trillion in outstanding student loan debt, 40 million borrowers, an average balance of $29,000.” The amount of money that is put into is college is ridiculous because without a job right after college can be difficult to pay off. However, after getting a job with the earned degree, the student likelihood of earning more has increased significantly. According to Bergeron and Martin, president and vice president of American Progress, states “By 2020, 65 percent of all jobs will require bachelor’s or associate’s degrees or some other education beyond high school, particularly in the fastest growing occupations—science, technology, engineering, mathematics, health care, and community service.” This affects the future generation because after this time, jobs will require a college education. This will make the current generation think how important college is for the future generations.

Why is college education so important?

College plays a big role for those who want to achieve better opportunities. As many jobs are being created, they are going need people with this higher education to take on these jobs rather than an average person who did not go to college. According to Jeff Mcguire, author of “Importance of College,” “This stimulation encourages students to think, ask questions, and explore new ideas, which allows for additional growth and development and provides college graduates with an edge in the job market over those who have not experienced a higher education.” This is beneficial for the students because the knowledge they gain from college, they can expresses the growth they have obtained from this education. This can even connect to being higher in a job than some ordinary employee. In fact, according The College Board “roughly 70 percent of individuals with a four-year college degree received health insurance from their employer, while less than 50 percent of employees with only a high school diploma received the same benefit.” Graduating from college will have its benefits because after that students will have a higher chance of getting a job that comes with benefits. If colleges have this kind of benefit, this will make students think about how college will affect their social life.

What are the additional benefits to attending college?

There has been more benefits in college than just the economy, social life plays a big role for the students academics. The college life is far different from high school because in college you are treated as an adult with more responsibilities. According to Daniel Rudel, IU sociology graduate student, “These patterns could affect the social connections and networking students develop in college, where these relationships can lead to friendships, employment, marriage partners and other benefits” After leaving college, students have many connection with other people in their own same work force. If a student needed a job, they would have these connection to help them get a job. While students study in the same department, they tend to meet new people with new backgrounds and new thinking. According to Cheryl Carmichael, researcher as a PhD candidate in psychology, “It's often around this age that we meet people from diverse backgrounds, with opinions and values that are different from our own, and we learn how to best manage those differences.” Classes are going to have different types of backgrounds and perspectives, this will help influence students with seeing the perspectives of other individuals. Students have classes with huge diversity but they also have to consider the amount of money that is being put in classes.

What is the average spending on college ?

The amount of money that college students put towards college is outrageous. College tuition has risen dramatically, comparing to the 1900’s. In fact, according to Ray Franke, a professor of education,"If you look at the long-term trend, [college tuition] has been rising almost six percent above the rate of inflation." As college tuition rates have been rising faster than inflation, this starts to become a problem. This means colleges will raise their tuition prices even higher because of inflation. This makes students wonder how much they will being paying now. According to the college board “a price tag of a four-year higher level education is between nearly $8,000 to about $40,000 or more.” Students in this generation have a big gap compared to back then. The fact that the average cost of college is nearly more than $40,000 scares students into thinking that college is not a good idea. However, there are many alternative ways to reduce the cost of college so that students are not scared of debt.

How can students reduce the price of college tuition ?

As college tuition is rising, it has become harder to pay off the loans that students take from the bank. There have been programs to help students pay off these loans, so that students do not get overwhelmed with this debt. According to Don Rauf, author of "Financial Aid in a Changing World", “The cost of college may not be as high as you think. The College Board reports nearly half of all students are attending a four-year college where the sticker price is less than $9,936 a year. With financial aid included, most students pay less than that.” With the help of financial aid students can stress a little less about this debt. Financial aid is not the only way to reduce the cost of tuition. Colleges might offer a scholarship for a student because they want that them to attend their school. According to Jason Bedrick, author, “The program also appears to benefit students who don't receive scholarships. In 2010, researchers from Northwestern University published a study with the prestigious National Bureau of Economic Research reporting that increased competition resulting from the program had had a modest but statistically significant positive effect on district performance on standardized tests.” Earning a scholarship from a college is beneficial for the student because as students earn this, this strives other students work for this opportunity.

Glossary

Tuition

is a fee paid for instruction or teaching, usually for higher education.

Loan

a sum of money given temporarily that must be repaid, often with interest, or an added percentage on top the original sum.

Financial Aid

Money to support a worthy person or purpose

Debt

the state of owing something (especially money)

Economy

the system of production and distribution and consumption

Scholarship

financial aid provided to a student on the basis of academic merit

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Created with images by jimmyharris - "College at Oxford" • frankieleon - "the shrinking dollar" • Hermann - "books education school" • sbtlneet - "sunset evening sky" • frankieleon - "Got something to say?" • stevepb - "coins calculator budget" • JackLondonPL - "hammerton college cambridge uk"

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