College Becoming Overpriced

The Cost of College Becoming Overly Expensive? According to Student Loan Hero, in 2012, 71 percent of students graduating from four-year colleges had student loan debt. This is only increasing year after year. The decision on whether to go to college or not is becoming easier considering the huge financial stress it will put on a person for the rest of their lives. Although a college education is becoming a necessity and leads to great success, it is overpriced, leaving most of us Americans in tremendous debt. In today’s society a college degree is almost a necessity if someone wants to be successful. Although some Americans do make it well without a degree, most make it better with one. Those with a high school diploma can look forward

For this reason, they can get a student loan to pay for help pay for some of the college tuition and books that they will need. Although this helps out tremendously at the time, in the long run it leaves the student with a huge amount of debt, which take many years to pay off. Of course for most of these students going to college pays off and provides them with great jobs that help pay off their debt, but for the ones that do not make it into those great jobs have a much more difficult time paying it all off. In fact studies have shown that a student at a public university can expect to graduate $25,000 in debt (CNBC). That is nothing compared to the student who choose to go to a private university, owing $32,000 in debt (CNBC). This is a huge financial burden, especially for newly graduates who are just beginning to try and make it on their own. This is one of many reasons why some people will not go to college. Some do not think that the degree is worth the many years in debt trying to pay all the money off. They might feel differently if the amount of debt was decreasing, but in fact it is actually increasing every year. Between 1992 and 2012, the average amount owed by a typical student loan borrower who graduated with a bachelor 's degree more than doubled to a total of nearly $27,000(CNBC). This is just in ten years, who knows what it will be

Although the cost of college can create a huge financial burden, there are reasons why it is so expensive. Many people don’t take into consideration on how much running a college really takes. Colleges provide many things for a student including housing, meals, medical care and let’s not forget instruction. Most schools spend almost five thousand dollars alone on instruction for students (CNBC). Colleges have a very hard time lowering their tuition when they have so much they will provide for the students attending. Of course a smaller college with less to offer will be much cheaper than a college where they provide on campus housing, medical care and the opportunity to take advantage of all the resources that they provide for their students. Many schools today have a wide variety of resources that can be taken advantage of that many people don’t appreciate. Yes, college has definitely become very expensive but considering all the things they provide, it is necessary for them to be so