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Rising cost of higher education
High cost of higher education
Rising cost of higher education
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More handpicked essays just for you.
Rising cost of higher education
High cost of higher education
Rising cost of higher education
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Rising cost of higher education
Why College Isn’t Worth It Attending college is something that many High School students look forward to as a buffer or a way to make the transition into adulthood easier, but a rising question has people considering: Is going to college really worth it? While some describe college as their best years, it leaves most attendees in debt and with a degree they may never use. Between tuition fees, traveling, housing, food, and textbooks, all college students are bound to owe at least a few thousand.
Many college graduates are facing unemployment, leaving students and parents to question if college is worth the cost. The answer is no. Student debt has significantly increased. “If you get this wrong, it’s actually a mistake that’s hard to undo for the rest of your life”(Peter Thiel co-founder of PayPal). Peter Thiel is explaining that today 's students are taking on much more debt, due to recently tightened bankruptcy laws that have made it more difficult to get out of debt.
Currently, the U.S. has accumulated roughly one trillion dollars worth of debt from student loans. (cite) But, what if student debt was forgiven overnight? Now if student debt was eliminated all at once it would be an enormous expense for private lenders and the federal government. Yet, people continually suggest the dissolution of student loans with a one-time payment plan from the government.
In this day and age, it is assumed that the majority of high school graduates will be attending college, whether a two year community college or a four year college or university. The problem with this expectation of young people is that college is expensive, which is why numerous people are pushing towards free college for all, not just for the academically talented. While overall publicly funded college is unrealistic, this country could slowly overcome this issue of college debt by providing more two year community colleges across the nation with the tuition of these community colleges drastically reduced. The major reason why many people are pushing towards publicly funded college is a because of the substantial rise in college debt over the last decade.
During the presidential election debates, one of the main topics is the problem of debt, specifically debt for college students. According to The Institute for College Access & Success, 7 out of 10 college seniors graduate with student loan debt. Granted you can save money by going to an in-state university, but even in-state tuition can be difficult to pay without student loans. In January of 2012, I began my first classes at Normandale community college in Bloomington, MN.
Loans allow receiving a college education seem like a smoother process considering that such a hefty amount to pay is divided so that it can be paid for in moderation. Despite the fact that it’s split into many payments, it’s still a large quantity all in all so unless indebted students aim for high income jobs, there would many years of difficulty to come after college. For this reason, undergraduates make it their goal to go after jobs which would prevent them from being constantly pressured to pay off debt. Thus, student debt is both a crisis and a reason to encourage persistence towards greater ambitions (Hillman, 41). It is a tremendous thing when a student seeks to be financially comfortable or even rich in the future but not when it is for the wrong reasons.
Is College Worth The Time And money Many people go to college for many reasons the main one for most is to get a degree in something they think will give them better job opportunities which in return would allow them to have a better paying job then what they may have now. A lot of time ,effort and money go into college and so it’s understandable to think that once you’re done you’ll have a great job waiting for you . In a lot of cases it really doesn’t turn out that way, but either way college is well worth all the time and money someone puts into it.
According to the last recording of student loan debt, the total amount of the United States student loan debt is roughly one and a half trillion dollars (A look at…). Statistics like these present the urgent need to resolve the major financial issue of student loan debt. Solutions have been given by many people to solve this issue but most solutions fail. The main reason behind student loan debt is falling to far into debt to the point where it is almost impossible to come back. The origin behind all of this is a lack of a student loan amount cap.
Society often believes college is a necessary experience for a better future, but I argue that the future will not be any better when student debt becomes a part of life for those who follow that mainstream belief. Most parents often dream of the great colleges and universities that their children will get accepted into; however, they fail to think of the cost to attend those institutions. Financial aids! Financial aids! Yes there are financial aids that students can apply to lessen the student debt.
The tuition and cost of college is detrimental to thousands of families across the country and brings student debt to future graduates. Some students have seen their debt climb over $30,000. Friedman writes, “The average student in the Class of 2016 has $37,172 in student loan debt…” (Friedman). With the debts being over the average income for single people households, college has transformed from a benefit to a burden. Young adults not only have to worry about their education but also paying for the next semester or years of college ahead of them.
As the school year comes to a close and the only thing on a senior’s mind is how are they going to pay for college? Throughout our high school careers we always get asked what our plans are after high school and never how are you going to pay for that next step of your life after high school. We barely get prepared for the real world in high school we are forced to take classes the school thinks will be good for us not what we think or what will be best for what we want to study for in college. How are high schoolers supposed to be able to pay for college when they don’t get prepared enough in high school to go on to that next level of schooling and have to more than likely go into debt just to be able to pay for it. Colleges should no longer cost an insane amount of money to go there.
College costs are skyrocketing, and at the same time we have students wanting to learn and become educated in order to contribute their knowledge to society. The student loan debt crisis is weighing upon us, so we need to reform the system. If I had the power to make a change, I would cut the costs of college education and lower student debt by a reformed banking system. One of the major causes of the student loan debt crisis is high interest rates for student loans. Too many banks offer loans and do not think how these students are going to pay back the money.
The total U.S. student loan debt now surpasses $1.2 trillion and there is more than 40 million recipients owing on federal and private student loans (Malone). Most of the college students in the United States can’t afford their education by themselves and, as a result, students end up drowning in student loans in order to earn a degree. Student debt is a major problem in the US, and it is a major influence on the gap between rich and poor. A more accessible college education would help reduce the gap between rich and poor in the United States.
Have you ever owed someone $20? Well, imagine owing someone $100,000+ . Many students every year are left in crippling debt that can affect them for the next few decades of their life. Because of the cost of college, many students fresh out of high school can’t go to college. In order to make it easier for the lower-class to go to college, you should do at least one of the following things.
Student loans can be helpful, but when it's time to pay back, it can lead to future mental struggles and be stressful and hold you back from living the life you want to live in the long run. The student loan debt crisis in now only taking a huge toll on the personal lives of many Americans, but on the economy as well. Whether or not students graduate or not, if they pulled out student loans worth $200,000 they remain in debt for a remainder of years. As the problem continues to grow it becomes more and more critical to find a solution to help the well being of everyone in the nation, student or