College Costs
Introduction
It's no secret that financing a college education is getting tougher. College costs have skyrocketed over the past decade or so, and there's no relief in sight. Average tuition at four-year colleges will increase 7 percent this school year, double the rate of inflation. Student aid is not increasing fast enough to plug the growing gap between tuition and family finances. In addition, there is a growing number of older students entering college today. These students have families that they need to support. I know, because I am a family man who has returned to school. I wish to finish my degree at the Rochester Institute of Technology. The only problems I face are financial in nature. It is with this in mind that I set about this research. The not so simple question: Is financial aid available to older students, and if so, how do they go about obtaining it?
The Cost Of Education
The cost of higher education varies by type of institution.
Tuition is highest at private 4-year institutions, and lowest at public 2-year institutions. The private 4-year colleges nearly quadrupled their average tuition rates between 1975 and 1996. For private 4-year colleges, tuition and fees for the 1995-96 academic year averaged about $15,400, compared with about
$5006 at public 4-year colleges. The cost of attending an institution of higher education includes not only tuition and fees, however, but also books and supplies, transportation, personal expenses and, sometimes, room and board.
Although tuition and fees generally are substantially lower at public institutions than at private ones, the other student costs are about the same.
According to MS-Encarta94,"the average cost for tuition, fees, and room and board for the 1995-96 academic year at private 4-year colleges was about $20,165.
At public 4-year colleges the average combined cost was about $9290" (Encarta94).
The cost of attending RIT is approximately $15700 per year. This does not include room and board, or books, and supplies . This cost falls in line with the national average. However , according to Rachel Shuman of the RIT
Financial Aid Department,"the increase in cost at RIT was 4.8 percent...
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...he most recently admitted class is paying full tuition?"
Her reply, "Practically nil. Most of our students receive aid.
Those that do are working full time and attend class at night. But they are usually subsidized by their employers."
"Do you package preferentially?"
"Yes we have merit based scholarships for outstanding students.
But we attempt to meet the needs of each student individually."
Conclusion
Well there we have it. The system at RIT is set up as a meritocracy for the most part. Those students which have proven themselves in
High School or are transfer students have a far better chance of receiving grants and scholarships. The rest of the students will receive some sort of loan relief. Still others will receive aid based on their financial situation. The system is complicated and you the student are at its mercy. Remember also, you must get admitted first before you need apply for financial aid.
Because in the end of the day getting my education and a degree will help my mother in the long run. I like to picture that my grandmother would want me to continue what I started and achieve my dreams in furthering my education. There will be many changes that will have to happen for me to achieve that dream. For starters, working late does not mix well with me and I
approach was to be utilized as a framework for financing (Kronenfeld, 2011). In 1972, benefits
When the General Court of the Massachusetts Bay Colony founded the first college in America, Harvard, in 1636, it marked the beginning of college as the backbone to the American Dream (“About Harvard” ). Around the world, America is coveted for the “American Dream” in which someone can go from deep poverty, to unbelievable wealth, all by getting an education which allows a person to obtain any job and reach any economic level. The article “Peter Thiel Thinks You should skip college, and He’ll Even Pay For Your Trouble; The famous disrupted says overpriced universities hold back innovation, and what's to rewrite education to his liking” by Tom Clynes argues people should not attend college because it is a hindrance to innovation, while the article
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.
Imagine only paying for transportation, meals, supplies, room, board for college, and small college fees. This is exactly what other countries like Germany and Sweden are doing. Instead of having students pay an enormous amount for their education, these countries only require an individual to pay for their own basic needs with a small tuition fee as well. It is no surprise that students from the U.S are traveling overseas to get these benefits. In the meantime, colleges in the U.S have only become more expensive each year, and it’s greatly affecting graduating high school students since each student has to find a way to pay for his or her college tuition. The college graduates are then affected because they have to pay for the outrageous debt
There is no escaping the fact that the cost of college tuition continues to rise in the United States each year. To make it worse, having a college degree is no longer an option, but a requirement in today’s society. According to data gathered by the College Board, total costs at public four-year institutions rose more rapidly between 2003-04 and 2013-14 than they did during either of the two preceding decades (Collegeboard.com). Students are pressured to continue into higher education but yet, the increasing costs of books and tuition make us think about twice. Sometimes, some of these students have to leave with their education partially finished, leaving them with crushing debts. It is important to find the means to prevent these students that are victimized by skyrocketing tuitions from dropping out, and encourage all incoming high school seniors to continue their education.
But many low-income students not only have a full-time course schedule, they also have jobs where they work more than 30 hours per week. Approximately one-quarter of college students’ work while attending school and have both a full course-load and a full-time job (Carnevale, Smith, & Melton, 2015). Working helps students with the living costs as well as tuition and can help students learn skill sets that many employers prefer. However, there are problems with having full-time work while going to college.
respect from others and to obtain power. By being financially stable you can live better because you
College is what everyone knows as a way of furthering their education or a way to get a better paying job. A college degree is almost compulsory to actually compete and communicate in this developing nation. There are various factors that people look at when applying for a college. How much is this school going to cost me? Will I be able to gain the required knowledge I need to excel? All these various things have changed a lot over the years and who knows what they will be in the years to come. But as for right now these issues are still being figured out.
Lifestyles, family life, expense rates, and academics can and will greatly influence your costs of college. Depending on how you choose to live your life before, during, and after college can affect the overall price and cost of college. It can also affect how little or gigantic your loan is. Extracurricular activities are included in your lifestyle. Your family and home life can also play significant part in your costs. If you come from a middle class family, they are typically “not rich enough to afford the full cost of tuition at a prestigious university and not poor enough to qualify for subsidies.” Some families do not help out with the financial parts. Expense rates are starting to play a more important role in the costs of tuition and amount of debt. Rates have steadily been increasing since 2014. Academics come into play when regarding scholarships. Scholarships help cover part of the tuition.
behind their classmates in school and do not try. A study shows that less than
The first cause of students dropping out of college is due to the fact that they are unable to balance their work and school together. Students who are working while going to school can often “bash” more than the government’s acceptable hours of work. For an example a student may be working a full time job, that requires them to do physical work and leaves them tired by the end of the work shift. If that student had class later that day, they would not be able to focus on the subject that is being taught in that session. Sometime during working people don’t finish work on time and will finish late, this will also impact the students. If they finish their shift too late and arrives to class late, then the possibility of the being disorientated will be quite high and lethal to the student, due to the fact that they missed the introduction. Continuing to be late forces them to make decisions between school and changing jobs, and in many cases they just end up quitting school. Being unable to balance a student’s work and school may cause that student to drop out of college.
The overwhelming cost of college has caused high school students debating whether to continue pursuing a higher education. Many of these high school students have decided that the price of the accumulated debt is not worth the investment, and end up choosing a full-time employment without a college degree. It is, however, important to invest on knowledge because it edifies and sets a base for the future. To fully comprehend how important it is to invest on higher education, one must be aware of the value and the rates of return for each individual.
I hope to be able to instill these values in my son as he grows up to make his own choices. In choosing to return to school after eleven years I hope to improve my own: intellectual wellness by challenging my mind, my emotional wellness by bettering myself, and interpersonal wellness by improving my relationships with the people closest to me. The support from my family and friends has been invaluable in my returning to school. I feel that by making these positive changes I am setting a good example for my son.