In the present paper, college costs will be investigated as a perceived barrier to degree completion. It is hypothesized that the increasing expenses of college discourage students from attaining a college degree after high school. The following ten literature reviews will attempt to understand the financial factors that contribute to students’ early departure, as well as investigate possible covariates (such as psychological and social factors) that may affect retention and early departure rates. College Costs and Perceived Barriers to Degree Completion In today’s difficult financial market, a college education has been increasingly important in broadening possible job opportunities. Many who do not have a college degree face much lessened prospects for employment.
Department of Education, less people are enrolling in college. People are feeling more secure after the 2008 recession, and assume they might not need a college education to support themselves. But people were struggling when the 2008 recession hit, especially those without college degrees that helped them get jobs, and it is always a possibility that this recession may hit again. As stated above, this rising cost of tuition may also cause prospective students and their parents to decide against a college due to its high tuition price-tag. For those students who do decide to attend college, they are forced to take out loans provided by either the government or their university, which has a large interest rates.
A healthy unemployment insurance system is the most powerful stabilizer of the economy. However, the current Employment Insurance program cannot play an important role to solve the problem for specific groups (ex: male workers, students, and immigrants), who are more likely to lose their jobs but less likely to get EI benefits from government during the economic recession. Men Table 1 show that men’s unemployment rate (8.1%) is much higher than women’s (6.2%) in Nov. 2009. Furthermore, men’s percentage of change unemployment (44.2%) is higher than women’s (33.9%) from Nov. 2008 to Nov. 2009. Men are more likely to lose their jobs than women in current financial crisis.
High school graduates will opt to pursue employment opportunities instead of obtaining a higher education. Consequently, the United States becomes less technologically competitive when higher education is minimized. Therefore, the rise in college tuition is hurting the country just as much as the individual. Moreover, students who fail to acquire a college degree may find themselves with less promising futures because of the growing demand to hire college graduates. For example, the most enthusiastic applicant, who may otherwise meet all the other employment qualifications,
For the first time in recent history, many young and educated Americans are finding it challenging to acquire their desired career, let alone a full-time job. Young students across the United States are reluctantly postponing adulthood because of poor economic circumstances, despite representing an enthusiastic potential workforce. Compared to previous generations, they are now more educated. And despite having this advantage, these young adults continue to feel hopeless. Furthermore, the amount of unemployed college graduates has made the job search that much more difficult due to the oversaturation of degree holders.
The higher education system (or lack thereof) is not serving the country and its citizens. The increasing number of admission standards, exponential tuition increases, the financing of the cost through loans, and the boasting of turning students away all contribute to rising disparity between the quality of education that upper class families can afford compared to lower and middle income families. The rising costs of higher education in this country are problematic in that they fuel a disparity between economic classes. Capitulating the problem is the amount of debt college graduates have accrued at the time of graduation. The Institute for College Access and Success (2013) reported that 70% of graduates had and average of $29,400 of debt.
This shows how college students become overwhelmed with the thought of having to pay back all of the money accumulated over the year, so instead, the student’s new plan involves dropping out. In Nicole Stephen’s “Unseen Disadvantage: How American Universities’ Focus On Independence Undermines The Academic Performance Of First-Generation College Students”, it is written that students do not obtain the skill set needed to perform well in the work field. Higher education is currently a poor investment because of the increased levels of debt it gives students. Higher education also does not guarantee that a person will find a job and be able to... ... middle of paper ... ...cause of the increased levels of debt it gives students, unfortunately. Higher education also does not guarantee that a person will find a job and be able to pay off their school loans, and it does not provide students with the essentials needed in the labor force.
Long ago, receiving education was once something only the rich could afford; it was a luxury. Nowadays it is open to everyone, but many students enter college only to discover that they are underprepared, and in turn they become disenchanted. David Leonhardt’s article, The College Dropout Boom, addresses the issues that are apparent in the education system and how it contributes to the gap between the upper and lower class while Access to Attainment by Abby Miller, Katherine Valle, Jennifer Engle, and Michelle Cooper calls to improve access to college education for today’s students. This is incredibly important because many students either drop out or never attended college and in today’s time, having a Bachelor’s degree has become a requirement
Not only do these students experience issues migrating through high school into college, they also lack the necessary resources some students need to achieve higher standards. For instance financial assistance, mentorship, and other motivating factors that can help a student grow into a professional. Despite the initiatives used by universities to resolve the issue with retention amongst this group of students, there is a relatively high rate of first generation students not returning to college. The “combined portrait” facing first year students is one of students at academic risk, where a disproportionally low number succeed in college. They are more likely to leave at the end of the first year and less likely to stay enrolled or attain a bachelor’s degree after five years (Stuber, 2008).
This data shows us that those in the poor of our country are increasingly less likely to get an education that would get them into the middle class or above. The brunt of this downturn can be blamed on the ever increasing price of a college tuition and the perceived lack of social mobility in America. The costs of a college education would be impossible to pay for most Americans without getting into student load debt that averaged $37,000 for the graduating class of 2016 and is only increasing (cite 8). As inequality grows there are more and more Americans for whom these staggering costs keep them from pursuing a degree. Furthermore, research by