Why Rising Cost of College
Every year hundreds of High School seniors apply to various colleges, from prestigious schools like Harvard to local community colleges. They get accepted to a college. Parents and students now face the question of how they will pay for their education. Many resort to student loans, scholarships and grants in order to foot the bill. However, now more than ever parents and students are paying more than ever in college fees. Understanding college costs will give us a reason as to why the price is so high as well as how they got to that point. In order to know how and why college costs are so high, we have to know what the rates of colleges are. Four year colleges and universities are $23,066 (Understanding) a nearly $20,000 increase in a thirty year period and two year colleges are now $9,308 (Understanding) an almost 2,000 increase in the same thirty year period. Student debt as the NPR says “has now surpassed a trillion dollars, higher than America’s collective credit card debt” (How). With these prices it doesn’t
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Before WWII college was thought to be only for the rich and elite however, after the war, an act was signed. The servicemen’s Readjustment Act of 1944 also known as the GI Bill of Rights, was passed as a way to “make it easier for each man to take his place once again in the community” (How) said an NPR audio transcript. It was used as a way to give veterans a good education, a job and a chance to reintegrate into society. The bill was a success “enrolling just under eight million veterans” (How) said the same transcript. The states embraced the idea so they spend the money they had in the post war economy. While the stares were investing the federal government helped families to pay for college. It created the Perkins Loan Program, which opened the doors of colleges wider to include civilians doing what the GI Bill did for