In the United States, many have the same dream, the dream of one day going to college or funding the cost for their kids or grandkids to attend college. In fact, the average American believes in the value of attending some form of higher education, but often worry about the cost. (Radwin &Chang Wei, 2015). Sadly, the price of higher education, more specifically, tuition cost has increased in the last 30 year. Yet, the economy has experienced an ongoing recession, causing many to experience hardship and seek higher education to obtain financial freedom.
Unfortunately, American higher education institutions have thrived during the ongoing recession; and sadly, they have taken advantage of students attending and returning to college by consistently raising tuition cost. Therefore, due to the American value of higher education and the short and long-term effect of high tuition cost, the biggest, yet the most complicated issue among American higher education institutions is the high cost of tuition.
High Tuition Cost
The average cost of college tuition has increased, but in a way that the average person many not imagine or understand. For example, during the 1994-1995 academic year, the average public higher education institution tuition cost was $5,964 (U.S. Department of Education, n.d.). However, during the 2012-2013 academic year, the average tuition cost increased by 152 percent to a whopping $15,022 (U.S. Department of Education, 2015). Extending the date back to 1987 and 2012, tuition cost increased by 336.6 percent, exceeding the mortgage loan debt by .2 percent (Strohush &Wanner, 2015).
While some may agree, there is justification to the increase in tuition cost, such as a higher budget to compensate ...
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...than anticipated, many student are unable to find jobs in their field, forced to move back with parents, and rely on their parents for financial support (Houle, 2013). Thus, making the cost of higher education a burden for both parents and students (Houle, 2013).
Looking at all the factors – rise of tuition cost, the value of education, and the effect is has on students; the major problem, as originally stated, is the high cost of tuition. American higher education institutions have shown very little consideration of the hardships of their graduating students. On the contrary, higher education institutions may argue that no one forces students to attend college or get student loans. However, because the average American still values a college education, the issue still lie in the hands of those who manage the American higher education institution.
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