Rising Cost Of College Essay

The rising cost of colleges has been a controversial conversation, from it starting to outpace the common wage and leaving many individuals with heaps of debt that they have accumulated from their student loans . College has always been seen as the golden ticket to a wealthy life, so naturally people will pay substantial amounts of money to attend these same colleges. Consequently, colleges started to take advantage of this knowledge and has amplified their expenses, “The average annual cost of tuition at a public 4-year college is 37 times higher than tuition in 1963” ( Hanson) . While some may argue that the increased cost of tuition is reflective of the quality of education, the reality is that it has become harmful to many individuals and

One of the primary culprits is the decline in state funding for higher education institutions, which has caused many universities to “raise tuition, and in some cases, cut faculty and certain course offering” ( Chamlou ). Moreover, competition among universities to attract top students has led to investments in costly amenities and extracurricular activities. A term that can describe one reason why colleges cost keep increasing is oligopoly. Millions of high school students applications get sent to colleges each year, but there is only so many colleges they can apply to, and only so many students a college can accept. Without the Financial roadblock many individuals face, there wouldn’t be a fast and efficient way to thin out the acceptance rate colleges has. Altogether, these factors have contributed significantly to the breakneck rise in college fees observed over recent

The cost of tuition fees and other university expenses were covered by family wealth, National Defense Student Loan program, and government funding, thus leaving little need for any financial assistance. College was not seen as a necessity for lower class society, rather an aspirational luxury afforded only by the wealthy or privileged who sought educational enrichment. However, toward the end of the 1900s when demand for tertiary education increased so too did pressure on universities and governments to expand access through affordable loans, grants and scholarships. Differential economic, social and cultural.

As tuition costs continue to skyrocket, many students have found it increasingly difficult to afford the cost of higher education. So, the enrollment in Students has been seen “ at less expensive community colleges or dropping out of college altogether”(Sanchez). Ultimately, the increasing cost of tuition is driving a new generation of students away from traditional college enrollment models and causing them to consider alternative paths towards career