Education in the United States has long been a concerned issue for teachers, parents, and communities. It is a major political topic, in which government has shown continuous efforts to compare and evaluate standards from state to state by creating and monitoring various programs for overall academic improvement across the country. Proper education has now become a moral necessity in order for individuals and societies to grow and succeed. Some of the major issues in the U.S. educational system consist of lack of equality in education, and decline in academic test scores. The U.S. spends more per student than any OECD nation, and other countries also seemingly invest funds differently than us.
Retrieved November 8, 2010, from http://www.finaid.org/loans/dl-vs-ffel.phtml Public Service Loan Forgiveness (PSLF). Federal Student Aid. (February 16, 2010). Retrieved November 09, 2010, from http://studentaid.ed.gov/PORTALSWebApp/students/english/PSF.jsp
SOURCE: U.S. Department of Education, National Center for Education Statistics, 2007-08 National Postsecondary Student Aid Study (NPSAS:08). (Prepared August 2009.) SOURCE: U.S. Department of Education, National Center for Education Statistics. (2009). 2007–08 National Postsecondary Student Aid Study (NPSAS:08) Student Financial Aid Estimates for 2007–08, Table 1-4 Education Pays.
If nothing is done to stop colleges and universities from increasing the cost of attending their school, the amount of time it takes for students to pay off their loans will become longer and longer. The extreme expenses to attend a college or university may leave a student in financial distress: which may ultimately lead to hardship in creating a living for them and affect the country’s economy. The cost of college tuition continues to increase each year. If this keeps increasing the way it has been, students will be indebted the rest of their life. Author of “The Looming Student Loan Crisis”, Jackson Toby states that student loans have increased along with the increase of tuition costs.
As tuition costs are constantly rising more college students will face the sticker shock of acquiring a secondary education. Still struggling with flat economies, huge budget deficits, and ballooning college enrollments, many states significantly raised the cost of attendance (Arnone). This leads to greater stress on family’s financial situations and less spending in the economy by the recent graduates due to their constant payments to the student loans that they acquired during the continuation of their education. With the prospect of family income being equal to the high college costs looming far beyond the horizon we have to ask why are tuition costs constantly rising, and what can be done to offset or slow its drastic ascent. The biggest reason for the increase in tuition cost is due to the reduction of state funding.
In today’s society, the cost to attend college to earn a degree continues to increase, which results in an increase of students needing financial aid. A determining factor of how much a student receives is dictated by the Earned Family Contribution (EFC). The EFC is mandated by Congress as a part of the required Free Application for Federal Student Aid (FAFSA) that every student must fill out in order to apply to college. Steve Cohen, an Op-Ed Contributor to the New York Times and author of “A Quick Way to Cut College Costs” believes that the EFC is flawed in that it does not accurately depict how much a family can contribute to the cost of a student’s education. Cohen’s solution is for Congress and the President to drastically cut the EFC to realistically reflect on the unequal rising of college tuition and average household income.
One year at the prestigious Yale University will cost an average of $38,300 (collegeboard.com). Many students who deserve to go to this school may miss out because of the cost and lack of financial aid. The rising cost of college may put higher education out of reach for the average American. This paper will look into the reasons behind the steady rise in prices, the legitimacy of a college education, and why recent graduates are struggling to find jobs in this tough economy. A college education is now as necessary for success as a high school education was in the 1970’s according to the job industry.
18 Mar. 2011. . "Minimum Wage Laws in the State." U.S. Department of Labor. 01 Jan. 2011.
The best use of federal government anti-poverty funds is not another welfare or assistance program; it is to make college education affordable for everyone. A high school education is no longer sufficient to succeed in America’s increasingly complex economy. However, because of the high price point of a college education, far too many Americans are unable to afford education beyond high school. As shown in the graph below, the higher level of education received greatly increases the chances for employment and also dramatically increases the average salary potential of an individual. (College Board) With more Americans falling to the lower middle class, (Curtis) action needs to be taken to ensure that young Americans are not priced out of college because the price of tuition is so high.