The Rise in College Tuition
Thesis: Due to decreased subsidies and frivolous school spending, the cost of a college education is rising at dramatic rates, to the point where it costs an arm and a leg to receive a higher education. Budget and policy reforms are needed in order to help reduce this cost and its effect on students.
Audience: Government policymakers, school administrators, students
Introduction
College is a special time. Young men and women branching out on their own for the first time in their lives. Leaving the comfort of home and their parents to learn exciting new things and gain a wider perspective on the world. Sure, it can be stressful with making new friends, keeping grades up, and searching for jobs and internships, but overall it is a priceless experience. However, there is indeed a price alongside a college education. A price that students and their parents must struggle with if they want a college education. That price is becoming higher and higher, creating negative consequences such as extreme debt and increased dropout rates.
- How high tuition has increased over the past decade compared to inflation.
Why is tuition increasing?
The Aftermath of the Great Recession- The Great Recession dealt a hard blow to the American economy, leaving states with nearly $425 billion in budget gaps that had to be covered by spending cuts. This lead to decreased spending on higher education subsidies.
- Reduction in funding per students, the extra cost was placed on students.
- The educational funds were never brought back even after recovery
School Spending- With a reduction in subsidies, schools have not tried to reduce spending, but only the opposite. They are investing heavily in marketing to prospective students and creating unnecessary amenities.
- Schools target higher-income families who don’t care much about tuition prices
- No incentives for colleges to cut costs to lower tuition
- Sports programs can hike up tuition costs
Affect on Students and Families
- This has affected students and graduates greatly
- Massive student debt, a higher dropout rate
Conclusion/ What could, or should not be done
- Restructuring Federal Aid
- Differential Tuition
- Basing tuition cost off the major chosen: Majors who make more money on average or who use more resources are charged a higher tuition.
- Free college is not the answer
- Taxes would skyrocket
- Nothing of value is free (value of college education would decrease)
- Higher saturation of the job market
- Higher competition for admittance
- European countries- government tests determine if students can go to college at a young age.
Sources
Morgan, Julie Margetta. “Making College More Affordable.” Center for American Progress, www.americanprogress.org/issues/education-postsecondary/reports/2012/02/02/11082/making-college-more-affordable/.
Patton, Mike. “The Cost Of College: Yesterday, Today, and Tomorrow.” Forbes, Forbes Magazine, 25 Jan. 2016, www.forbes.com/sites/mikepatton/2015/11/19/the-cost-of-college-yesterday-today-and-tomorrow/#1f511f4e6060.
Schoen, John W. “The Real Reasons a College Degree Costs so Much.” CNBC, CNBC, 8 Dec. 2016, www.cnbc.com/2015/06/16/why-college-costs-are-so-high-and-rising.html.
Other Sources
http://time.com/4472261/college-cost-history/
https://www.forbes.com/sites/mikepatton/2015/11/19/the-cost-of-college-yesterday-today-and-tomorrow/#1f511f4e6060
https://www.nbcnews.com/feature/freshman-year/just-over-half-all-college-students-actually-graduate-report-finds-n465606