Cost Of College

Words: 852
Pages: 4

During high school, students are frequently pressed about their future after graduation. Many propose college, even when the choice is not in mind. Yes, college is not for everybody, but education is the key to be somebody. College is an opportunity that many want, but simply cannot reach. It is the gateway to a better career, a better future, and a better life. These institutions are essential for where you stand in society.
Attending college is explained by educators, reiterated by parents, and almost every adult inform you throughout your teen years. The honest truth is college does not promise you anything, but years in debt and a job that pays minimum wage. The cost of college is too high, too risky, and has a large probability of disappointment.
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The money required for college is an ongoing crisis for many families wanting to send was their child to college. It was significantly less in the previous years. “Attending a four-year private college cost around $2,000 a year: affordable, with some scrimping, to even median earners. As for public university, it was a bargain at $510 a year...” (Davidson, 2015). However, the cost of living was substandard. In the 1970’s, the average family’s income was approximately $13,000. Currently, the median home is around $62,000. However, the outlier in these costs is higher education. The tuition for college is four times the amount than what it previously was …show more content…
For example, the debt of student loans has passed the trillion dollar credit card debt. “Tuition has increased 225% since 1984-85, forcing many students to take out student loans to pay for the increasing cost of higher education.” (Brennan; Fox, 2015). So many, that the U.S. student loan debt has “…reached to $1.2 trillion dollars...” (Huffman, 2015). People blame decreases in state funding of college due to lower state appropriations during the recession as the reason for this increase in tuition costs. “Higher tuition costs raise loan demand, but loan supply also affects equilibrium tuition costs…” (New York Federal Reserve Bank, n.d.) “Colleges and universities more exposed to changes in the subsidized federal loan program increased their tuition disproportionately around these policy changes, with a sizable pass-through effect on tuition of about 65%...” (Huffman, 2015) The large debt can carry on into the next two