“College Cost Rise; Public Universities See Biggest Hike- Oct. 18, 2005”. Business, Financial, Personal Financial News- CNNMoney.com. 17 Oct. 2005. Web. 01 Feb. 2011.
As today’s struggling economy copes with unemployment, inflation, and low job expansion more and more people are entering the arena to higher education to make their way to the middle class. With this increasing surge in the market traditional public universities and colleges are approaching capacity and are becoming highly elitist in their way of acceptance for enrollment, also, many of these aspiring students are first generation college-goers from low-income families and don’t find appeal in the traditional “liberal arts” college experience, or are adults who are in dead end careers and want to get their dream job. These students are career driven and want a degree that focuses on the job they seek. To answer this niche in the market independent for-profit institutions, such as the University of Phoenix, have created pseudo “shortcut” degrees that they advertise will put students in the exact job they want before they even graduate, and have them on the fast track to success. With huge catalogues of degrees that all boast to be industry accredited, and to be attainable in two and a half years cause these institutions attract tens of thousands.
Over the past decade, it has become evident to the students of the United States that in order to attain a well paying job they must seek a higher education. The higher education, usually a college or university, is practically required in order to succeed. To be able to attend these schools and receive a degree in a specific field it means money, and often a lot of it. For students, the need for a degree is strong, but the cost of going to college may stand in the way of a successful future. Each year the expense of college rises, resulting in the need for students to take out loans.
Higher Education As A Business In The 21st Century Throughout the 20th and 21st century, post-secondary education has become very popular over the years. It has become challenging, and hard to keep up in academic terms. Many people are considering going to college, not just the ones graduating from High School but also those who want a career. A 2007 research showed that 64% of the college population was white, while minorities groups: such as African Americans, Hispanics, Asian/Pacific Islander, and Native Americans/Alaskan, consisted of 13.1%, 11.4%, 6.7%, and 1%, respectively (National Center for Educational Statistics). These statistics show that depending on what social class you belong to (lower class, middle class, or upper class)
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.
Matthews, Dylan. (2013, August). The three reasons tuition is rising. Retrieved from http://www.washingtonpost.com/blogs/wonkblog/wp/2013/08/28/the-tuition-is-too-damn-high-part-iii-the-three-reasons-tuition-is-rising/
Champaign, IL: Human Kinetics, 2005. 54-55. Print. The Associated Press. “News Summary: Tuition Just 1 Of College Costs.” AP Financial News (2013): Points of View Reference Center.
Furthering one’s education beyond high school level should be a benefit rather than a burden. Many people believe it is the key to social mobility and an opportunity to become successful. However, with the increasing tuition of institution of higher education, students find it rather hard to decide whether continuing their education is beneficial. Most people will agree that furthering your educational career is beneficial, whether it is to move up to a higher class or just nurturing the minds. The increasing cost of attending a university has become a burden to students after graduation due to the amount of debt accumulated while studying at one of these further education colleges.
If you are interested in going to college, this may be important information for you to read. College costs steadily increase and it would be beneficial to you to know how to cut college costs and get financial aid. College is important to get a better job and live with a smaller amount of financial struggle. The effects of the steady increase in the cost to go to college will probably draw people away from going to college. With higher costs there may be less people, more stress for people in college, and a possible financial struggle for anyone who pays the higher costs.