However, what they have to pay back is often more than the degree is worth in terms of income. The cost of college has increased by three hundred and seventy five percent, but house hold income has raised only one hundred and twenty seven percent. The government continues to tell student to pursue education and society believes that education is the best way to go. However, the value of a college education, based on earning potential, after graduation, is falling. Based on research, some students are intimidated by the amount of money they will eventually have to pay back.
With a college education job are more accessible for a college grad, even though a college grad may not work in the field of study right away, you gain working experience that will help you land a future job. Having a college education enable one with the academic knowledge to have a successful career in the future. Over the years the college national debt has grown to an enormous size, with Americans footing the bill of 1.3 trillion in outstanding college loans, according to the “St. Louis Federal Reserve”, from New Hampshire to Iowa, and across the nation, voters think students must be able to graduate from college without debt. (Frizell, 2015) Student Loan Forgiveness Act in 2012 was signed by millions of people in hope to free student from their loans Supporting evidence Educated citizens leads to a better economic and social development overall within the country.
The USA needs to start encouraging its citizens to go to trade schools because that is where the jobs that make good money are. A college degree used to be the only way to get a good paying job but times have changed and getting vocational training from a trade school is the best option many people have for earning a living. Education comes at a high price for this generation and not just financially. Going to college can give students plenty of debt with no promise of a job in return, which can set a student father back on their course of life. Young adults trying to start their lives by going to college encounter many setbacks.
However, as tuition costs rise, students have to take a second look at their options for a better future. A community college is that second look for many because it is the less expensive option. From 2007-2009, enrollment for community colleges has increased by 24 percent (“College costs and the CPI”). Students aren’t choosing a college for educational purposes because they are overwhelmed by financial issues. They are attending community colleges so they will be able to graduate with a lower debt.
But how can our future generation live the American dream when we cannot even pay to receive a higher education. The government promotes the 'American dream ' but makes it hard on us to achieve it. If the government distributed more financially to students then the college student’s success rates would go up. Whether you are ‘labeled’ lower class or middle class, we need the same financial needs when it comes to college tuition. You have these parents that take care of their kids throughout their life and provide them with everything that they need but when it comes to time that their kids want to go to fine colleges that is the one thing that they cannot do for them.
Practically forcing students to seek out loans, which may handle the problem for now, but in the long run puts them in more of a financial hole. Even after graduating and securing a job, a percentage of your checks are subtracted out to pay back your student loans. It’s almost unethical in a way, you pay to go college in efforts to attain a career to make more money, then if you graduate or not you pay money plus interest back. President Obama states, “The federal government must make the student loan repayment system more user-friendly by redesigning its communications with students” (Making College More Affordable). If you have to pull out a loan, it is responsible on your part
In “Funding a college education” Jane Wayland writes, “you must pay for an education, and student debt is a major concern”(35). These students did not consider that the government will pay for students who can not afford the fund and student who did well in school. The purpose of the government pays for students is that they believe that students will get a higher salary if they finish college. As a result of that, the government receives more tax. The act of government paying for student is short pay long return act.
These issues will be resolved if the government funds colleges and more people will be able to graduate. Currently, the government spends billions of dollars on academic programs with very low graduation rates, around 30% (Samuels). This is because colleges spent too much money on luxuries and amenities, and as a result, they raise tuitions while the quality of instruction remains the same. If higher education were government funded and caps placed on tuitio... ... middle of paper ... ...US government must act quickly and start funding our colleges so that we can compete intellectually with the rest of the world.
If you do not find a job right after college, you might be piled up with debts and unpaid loans. You would end up having a bad credit score. Then end up having a bad start with your life. I agree with this saying, because there are plenty of successful people in this world with a college education, but it takes a lot of hard work just to prepare for college. For example, having to take SAT or ACT to maintain a certain score for a school to even consider your acceptance.
A free college education would also help me be able to find my career so much easier without spending thousands of dollars for classes I’m not interested in before finding the one I really want to have a career in. Peter Thiel, co-founder of PayPal, noticed that the cost and demand for a college education has risen significantly between when he was a college student and today; he describes this rise as irrational. Thiel thinks that students today are taking larger student loans which leave them in debt and their