Going To College May Cost You Analysis

The Price of Education

“In America a four-year college degree can cost as much as a house” says Jennifer Ludden in her essay, Going to College May Cost You, But so Will Skipping It. (Ludden). After hearing this statistic the first thought might be how does a degree cost so much? However the true question is why can a degree cost that much? Because the American society has put so much value in a college degree the Federal government and Education Center are able to exploit this mindset and drive up the prices for a commodity society has determined is fundamental.

College is one of the biggest expenditures in America. According to the National center for Education Statistics the average public four year institution tuition fee is $18,110 in

Because we live in a knowledge-based society, meaning we judge based on knowledge, those with a higher level of education usually receive better pay, and a lower level of unemployment. In America knowledge is the scale our citizens are weighed upon, and the least complicated way to evaluate knowledge is through education level. It is statistically proven that the highest paying jobs require the highest degree (Bureau of Labor Statistics). To apply for a high paying white-collar profession, a college degree is required. Our social standing and advancement is dependent upon education. Jennifer Ludden states “Those with a degree make 17,500 more per year than those without” she also writes “Those without a degree are four times more likely to be unemployed”. With those statistics in mind it is no wonder Dakota Goforth says “In this generation you have to go to college. Like, it isn’t even optional.” (Ludden). Goforth’s mindset is kept by many American citizens. Americans are determined that a college degree is vital, and as it is not instantly accessible, those who provide the degree are able to decide the

However this benevolent gift comes with a terrible price as Quirk’s essay Federal Student-Loan Sharks outlines. In 2013 the rate for Student-Loans was 3.9% for undergraduates and 5.4% for graduate students (Quirk). Student-Loan debt can follow the borrower for life, “Over two Million Americans 60 or older still have outstanding student loans” (Quirk). With the current rates the Federal government receive enormous profits off the Student-Loan program, often a loan doubles or even triples before the debtor is able to pay it off. To illustrate the profit the Government obtain from Student Loans Quirk mentions a sign in the 2011 Occupy Wall Street Protest that reads “Borrowed $26,400, Paid Back $32,700, Still Owe $45,276” (Quirk). Although the Student Loan program enabled more citizens to obtain a college degree, Quirk suggests it also empowered Universities to raise their prices when he writes “Common sense suggests that the growing availability of student loans at reasonable rates has made it easier for many institutions to raise their prices.” (Quirk). The government gain a profit off Student Loans, while Student Loans enable Universities to raise their prices and also receive a profit, a wonderful situation for everyone except the student, and yet the students keep