College Cost Essay

The cost of college has ostensibly risen over the years. Even though a college education can be directly related to an individual’s earnings and wealth over time, many still choose not to attend. There are several reasons that are thought to be directly correlated to students failing to complete their college degree. A few of these reasons include, wanting to avoid the burden of debt brought on by student loans, socioeconomic status, lack of family support or lack of motivation, etc. 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. Many students inevitably delay completion of their degree because the fiscal costs of college out-weigh their financial capabilities at the time.
Many college students experience financial burdens that last for some period of time, even after completing their degree, and even worse, many times the financial stress of college costs is a factor that prevents degree completion. Robb, Moody and Abdel-Ghany (2011) examined what impacts “increasing student loan debt, in comb...

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...cial inequality has always been an important factor in every sector of American society. Many question if different races, in particular African Americans and White Americans, make different educational choices, or see college more or less favorable light bases on affordability. St. John, Paulsen, and Carter (2005) attempt to address this issue and show that college is affordable for all ethnicities, and propose that the only factor creating a barrier is lack of information regarding financing options.
There are many varying financial and non-financial logistical assumptions as to why many who begin college at a four-year or two-year college consequently fail to obtain their degree. A number of researchers have conducted studies in hopes of understanding student persistence to degrees and the many factors affecting purposeful or unavoidable withdrawal from college.