High Cost Of College Tuition

Over one trillion dollars. That is how much debt students have from college loan due to spikes from tuition costs. There are multiple factors that have driven tuition costs to rise. A majority of universities have hired more staff even though there are fewer students. Also, universities have to pay for upkeep on the grounds. To be more marketable to new students, colleges are getting more activities and taking on a “country club culture with valet parking, gourmet meals, and dry cleaning.” (Campo) This has caused college tuition increases for new students to pay for these expensive additions or repairs. College tuition has risen quickly in recent years which has restricted people from pursuing higher education and left college students to pay

For at least a century, costs for college tuition at certain universities and private colleges have “risen annually by two to three percent more than the rate of inflation,” according to Ronald Ehrenberg from Cornell University. (Ehrenberg) This means that as the purchasing power of money plummets, the price of tuition is increasing. This is making it harder for students to pay for college because currency within the country is not worth as much. Also, public four-year institutions saw a jump of 50.7 percent in their tuition and fees with inflation factored in during the past ten years. (Sheehy) This research from an annual report issued by the College Board shows the new high that tuition costs have reached within the previous decade. These prices are restricting or deterring many students from pursuing higher

In fact, the debt from student loans surpassed one trillion dollars in 2013 while the median family income dropped. (Martin) Between the 2005-06 and 2015-16 school years tuition rose 2.4% but “the median family income declined at an average rate of 0.2% between 2005 and 2014” without inflation factored in. (The College Board) This means that families are not able to assist their college student or graduate with paying any of their college costs. Therefore, students will probably have to their settle their loan debt after the finish their postsecondary schooling. These expensive college classes and degrees require most pupils to spend a majority of their working lives paying off college debt. College tuition has become too expensive and is hurting students due to high costs and debt. The prices have increased more than inflation for a multitude of years and have jumped to an all-new high in the past decade without a chance of stopping or lowering. The high “sticker price” of college tuition only deters more students from attending. However, if students decide to attend they have to pay off a massive debt after college. If college tuition does not lower by a considerable amount, there will be less highly educated professionals within society to do the most difficult