Essay about Privatization Is A Term That

Essay about Privatization Is A Term That

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According to the NEA Higher Education Research Center, Privatization is a term that “suggests a movement away from public financing and toward private financing. This term, mostly used by economists when talking about markets, is now becoming a topic of interest when it comes to higher education as well. Both colleges and the students who attend these institutions must face new obstacles as a result of the shift from public to private financing. For certain colleges, the main concern is: “How do we get the money to privately fund ourselves?” For students, the concern is: “How do I get enough money to be able to make it through college?” As private funding and financing becomes increasingly depended upon by higher education, the ones who suffer the most are the students who are not financially stable enough to pay their way through college. Many complications arise for these students, the most prominent ones being more stress and an undermined social status. Privatization has also shifted the focus from college being a place to educate yourself, to it being a business where students are the unfortunate customers forced to pay the prices set by these institutions.
The privatization of higher education has led to the emergence of a fairly new but already controversial matter; student debt. As tuition rates and other college costs steadily increase, students who do not come from wealthy backgrounds must find ways to pay for their college education. The most common approach for students like these is taking out multiple student loans throughout their stay in college. These loans are coupled with interest rates that leave many current and graduating students worrying about how they are ever going to pay off all their debt. In The Stude...

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...panies are affected too, but they are affected in a way in which they reap all the benefits while the students take on all the costs. Massive debt, mental stress, social expectations; these things are all faced by students as a consequence of college privatization. These consequences are not by choice either, there are some students who simply must take out loans in order to make it through college; the alternative would be dropping out and working a low-wage job. Colleges are now using that to their advantage; claiming they can specialize students and give them better job opportunities in the future. In the end, college has become a source of income for many organizations looking to squeeze as much money out of students as they can; and from the looks of it, college will continue to stray away from its original purpose which was to fully educate the youths of today.

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