In this competitive world of ours college education has become more or less a prerequisite to landing n excellent job. However, many tend to overlook the fact that our nation’s education system is one of the costliest in the world. The costs of attending a four-year college can be a backbreaking experience for an average American family. By the time you have completed your college education there is a high chance that you will be swimming in a sea of debt literally.
According to data released by the College Board, tuition and fees of colleges in USA for one year at a private non-profit college increased almost 4% to $31,231 in 2014. If you chose to turn a blind eye to the inflation factor you would still be losing roughly $125,000 from your pocket over the period of four years. Now, if you're looking to complete your master's program or PhD, you can double the fore-mentioned total before you've completed your degree.
Moreover, looking at the data from Inflationdata.com, the college education inflation rate between 1985 and 2011 was 498.5%, compared to a mere 114.9% for the consumer price index. If college education had increased at a rate proportionate with the CPI, then a single dollar in 1985 would translate to about $2.15 in 2011 -- except based on the real college education inflation rate, each dollar in 1985 would be almost $6 now! Shocking and very depressing you will say but this is the hard truth which is staring at our faces.
Now after going through the data you will be forced to ask the same question which I have been asking - Why are college costs constantly outpacing the inflation rate? After much consideration I have come to the conclusion that it's in fact a convergence of several factors, counting rising faculty and operating costs and the want to refurbish older buildings, purchasing new equipments, and develop by constructing new libraries and research facilities essential to match the pace with a highly progressive digital age.
The conclusion is that college grads these days are being stressed with arduous amounts of arrears- an increasing $1.2 trillion student loan debt is presently outstanding and high school grads are in certain cases just avoiding college on the whole due to the ever more exclusionary costs. This is a highly disconcerting trend that we are experiencing today.
Is there any way of arresting this alarming trend? Is it possible that our college aspirers can achieve their dream of higher education without getting swaddled in debts? In order to find a solution a proper understanding of these impediments blocking the path of brilliant students gaining entry into universities in USA who don’t have the monetary means to attend college is necessary.
There is a ray of hope shining through as two states- Tennessee and Oregon have undertaken a major new program which other states might shortly follow: granting high school grads the chance to attend community college for free! This is a great step towards ensuring college education for all and I hope it is successful.
According to data released by the College Board, tuition and fees of colleges in USA for one year at a private non-profit college increased almost 4% to $31,231 in 2014. If you chose to turn a blind eye to the inflation factor you would still be losing roughly $125,000 from your pocket over the period of four years. Now, if you're looking to complete your master's program or PhD, you can double the fore-mentioned total before you've completed your degree.
Moreover, looking at the data from Inflationdata.com, the college education inflation rate between 1985 and 2011 was 498.5%, compared to a mere 114.9% for the consumer price index. If college education had increased at a rate proportionate with the CPI, then a single dollar in 1985 would translate to about $2.15 in 2011 -- except based on the real college education inflation rate, each dollar in 1985 would be almost $6 now! Shocking and very depressing you will say but this is the hard truth which is staring at our faces.
Now after going through the data you will be forced to ask the same question which I have been asking - Why are college costs constantly outpacing the inflation rate? After much consideration I have come to the conclusion that it's in fact a convergence of several factors, counting rising faculty and operating costs and the want to refurbish older buildings, purchasing new equipments, and develop by constructing new libraries and research facilities essential to match the pace with a highly progressive digital age.
The conclusion is that college grads these days are being stressed with arduous amounts of arrears- an increasing $1.2 trillion student loan debt is presently outstanding and high school grads are in certain cases just avoiding college on the whole due to the ever more exclusionary costs. This is a highly disconcerting trend that we are experiencing today.
Is there any way of arresting this alarming trend? Is it possible that our college aspirers can achieve their dream of higher education without getting swaddled in debts? In order to find a solution a proper understanding of these impediments blocking the path of brilliant students gaining entry into universities in USA who don’t have the monetary means to attend college is necessary.
There is a ray of hope shining through as two states- Tennessee and Oregon have undertaken a major new program which other states might shortly follow: granting high school grads the chance to attend community college for free! This is a great step towards ensuring college education for all and I hope it is successful.
No comments:
Post a Comment