There was a time in America where college was based solely on merit, higher education and pursuing the American Dream to obtain a career and gain social status to be successful in society. According to the Economist newspaper, rising fees and increase of student debt, shared with dwindling financial and educational returns, are undermining at least the perception that university is a good investment. Now due to high cost of an average good university, students are leaving college owing back over $100,000 and are not getting the job of their original dreams.
Colleges have failed to stabilize tuition cost and has risen almost triple the cost since the 80’s in reference to The Economist news paper. In our country only 57% of Americans will be able to successfully complete their four-year college degree within six years as high tuition costs remains. Another failure that allowed colleges to raise tuition is due to the major cuts from states leaving the colleges to support themselves. The state found other concerns as priority and to invest in according to the New York Times article, Obama Vows Action on College. When the state or federal government no longer advances in aiding colleges and universities where does that leave our country for the future?
President Obama stated that the government would not continue to invest funds into an "undisciplined system." Field K. (2013, August 21) Obama Vows Action on College Costs, but Observers Say His Options Are Few. P.1, Washington Post. As well, the President stressed on how he will withhold some federal aid from colleges that fails to keep tuition growth low, and has proposed grants for states and colleges that adopt cost-saving measures. NY Times states that the federal gover...
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...t will build our future career seekers of the future. Heuve, V.K (2012, May 1) Free College? We Can Afford It, The Washington Post.
Clingman, J. (2014, May 05). Time to bail students out of $1 trillion debt. University
Wire Retrieved from http://search.proquest.com/docview/1520794349?accountid=27899
Field K. (2013, August 21) Obama Vows Action on College Costs, but Observers Say His Options Are Few. P.1, The Washington Post
Garrahan, & John. (2014, May 02). Forgiving student loans won't fix crisis. Daily Journal Retrieved from http://search.proquest.com/docview/1520399845?accountid=27899
Heuve, V.K (2012, May 1) Free College? We Can Afford It, The Washington Post
Mentzer, & Robert. (2014, May 02). Seek ways to address student loan debt burden.
Wausau Daily Herald Retrieved from http://search.proquest.com/docview/1520412288?accountid=27899
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Martin and Lehren’s article “A Generation Hobbled by the Soaring Cost of College” addresses the issue faced by current and former college students dealing with large amounts of debts due to student loans. The article presents the reader with stories of former college students who have either graduated or dropped out, and their struggle to pay off their student loans. The article also talks about issues such as students not being informed about high amounts of student loans and why student debts have increased. Martin and Lehren also make the issue of student debt more intimidating by giving examples
Recent studies show that the number of individuals who default on their student loans has been steadily increasing as well. Statistics from the Institute for Higher Education Policy (IHEP) show that between 2004 and 2009 only 37% of federal student loan borrowers were able to make uninterrupted payments; it is an annual average of 7.4% (Cunningham, and Kienzl). According to IHEP, for every one borrower who defaulted, two ...
Many Americans are seeking an ideal presidential candidate for our next election; furthermore, many college students seek a candidate that has their best interest in mind, leading many to focus on Bernie Sanders and his ideas for an affordable education system. In the article, The Myth of the Student Loan Crisis, Nicole Allan and Derek Thomas focus the article on the risky investments of college and questioning the rising debt levels as a national crisis. While Allan and Davis claim the risk of college and mention rising debt levels as a national crisis; however, Allan and Davis use charts to support their stance while avoiding the issues Americans need to focus on, such as the rising cost of college, “justifiable debt”, and the cost of those not contributing to society.
When hearing the words “free” and “college” in the same sentence, that is exciting to anyone who is interested in not paying those thousands of dollars for their pursued education. However, when it comes to Obama’s free community college idea, for the first two years, many people skip over the many factors that go into this issue. Some may agree with President Obama’s plan fighting for a fair chance for all student to get a degree and not go into debt receiving an education, and others argue that community college already being inexpensive will only make the system difficult to work with. While making community college free for everyone is considerate, the students with low incomes already get the aid they need without this program and the
Imagine telling a student who just graduated from college that you have wasted four years of hard, stressful and even worse, expensive work. Unfortunately, in this cynical society today, the world isn’t just full of competitors, but it’s full of greedy money-grabbing businesses. The worst businesses aren’t manufacturing or electric companies, but colleges and universities. In Caroline Bird’s essay “College is a Waste of Time and Money,” she examines how college has been viewed for so long as the best place to send high school grads no matter whether they actually want to go or not. She adds that students don’t realize how much college costs and are wasting their parents time and money, which is especially a horrible thing to waste. Now that the economy is better since September 11th and states have been stabilizing their budget debts, it doesn’t make sense that tuition prices higher than ever for college students.
According to the Bureau of Labor Statistics, college tuition and relevant fees have increased by 893 percent (“College costs and the CPI”). 893 percent is a very daunting percentage considering that it has surpassed the rise in the costs of Medicare, food, and housing. As America is trying to pull out of a recession, many students are looking for higher education so they can attain a gratified job. However, their vision is being stained by the dreadful rise in college costs. College tuition is rising beyond inflation. Such an immense rise in tuition has many serious implications for students; for example, fewer students are attending private colleges, fewer students are staying enrolled in college, and fewer students are working in the fields in which they majored in.
How does the rising cost of college tuition affect us? Every year thousands of students attend a college or university, usually of their choice, with the goal of achieving a higher education and to better their future. The cost of attending college is too high and it needs to go down; there needs to be more scholarship and grant opportunities. The high cost of attending college is a major reason that students aren’t able to achieve higher education; others take this as a challenge and it is motivation for them to work harder to achieve their goal. One might ask why would someone want to spend money to receive more education and miss out on more years of work that they could’ve performed? For many, it is so they can receive more salary for the jobs that they will have later in life, also so that they can get training for their wanted career. The cost of attending college is high and continues to rise without indications of decreasing. The rising cost has many benefits such as earning more pay, but it also has its disadvantages such as the debt that is accumulated from student loans. Not everyone can afford to drop down thousands of dollars and attend school for a few more years. Students who wish to receive a post-secondary education must decide whether it is the right choice for them depending on their financial standpoint, meaning that they must decide if they have the resources to further their education.
The article, of the extreme student debt crisis, written by James B Steele and Lance Williams, is a disturbing truth fact. The student loan industry is not there to help the students get ahead. Its only goal is to line the pockets of private investors, banks and the federal government.
College is one of the most fundamental institutions in our modern world. It is a place where most of our future politicians, doctors, scientists, and leaders are made. Though, it seems that the price tag that comes with a college education is something that is too hefty for some students. Countless debates go on about whether the price of college should be abolished or whether the cost still is on the students to pay for.
... must stop limiting our children and instead aid them in expanding their education by passing a federal law prohibiting out-of state tuition in order for students to attend some of the many prodigious colleges around the world. Ending such price discrimination would be epic and allow for a more extensive variety of choice for all college students when it comes to choosing the right college, but only if the majority of states acquire such a method of tuition equality. For years, the differences in the prices between in-state and out-of-state college tuition has always been an issue in determining where many high school graduates go to school, so by acting now we may help our future and current generations in obtaining an equal, more advanced education. Therefore, leading to a more productive work force, which in turn can generate an increase in the economy’s status.
As of 2016, American students have accrued a massive 1.3 trillion in student loan debt. Just 10 years ago, the nation’s balance was only $447 billion (Clements). This ever-present cumulative burden has caused many post graduate Americans to delay important life events such as marriage, homeownership and children because of this substantial encumbrance (Clements). The debt will only continue to grow with neglect, so the most effective action to take would be eliminating the cost altogether.
With the ever-increasing tuition and ever-tighten federal student aid, the number of students relying on student loan to fund a college education hits a historical peak. According to a survey conducted by an independent and nonprofit organization, two-thirds of college seniors graduated with loans in 2010, and each of them carried an average of $25,250 in debt. (Reed et. al., par. 2). My research question will focus on the profound effect of education debt on American college graduates’ lives, and my thesis statement will concentrate on the view that the education policymakers should improve financial aid programs and minimize the risks and adverse consequences of student loan borrowing.
Rotherham, Andrew J. "Student Loan Debt: Is There Really a Crisis?" TIME.com. 17 May 2012. Web. 9 Feb. 2014.