There are many colleges across the globe and millions of high school graduates attend one. Students try to study hard and perform at the level best so that they can get accepted to their dream colleges. However, one challenge with higher education is that it is not that affordable. Higher education fees have been on a rapid increase due to a high demand. The result has been that the current prices are widely outrageous. The cost of higher education is unaffordable and outrageously high.
Higher education is too high because it has tripled in amount when measured from the year 1974. Higher education tuition has been on a rapid increase every single year while the annual salary of a worker remains fairly the same or slightly increases. The outrageous price becomes quite vivid when compared to the increase in the price of other commodities. The price of the car has remained fairly steady and home prices have increased by about two-thirds. However, higher education is now three times as expensive as it was in the year 1974. The cost was on average $9,000 at that time but has risen to $31,000 at the moment. This is close to four times the initial amount. This is a painful bill for everyone but the richest. The average American household that does not receive financial aid, higher education is unaffordable and out of reach.
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The middle class and low-class family can barely afford higher education. There are very few families that make enough money so that they would not need grants and financial aids for their children to go to college. The number of families that can take their children for higher education is quite low compared to families that rely on financial aids to take their children to a decent college so as to get an education. The average household finds it very expensive to spend a lot of money in getting an education. The cost of higher education is an unsurpassable barrier for students that come from poverty-stricken neighborhoods and low-income families. The result is that many students can undertake higher education depending on their financial position or social status. This shows a great imbalance in society and reinforces the argument that the cost of higher education is too high.
The high cost of higher education is seen in the ever-rising student loan debt. Student loan debt is the highest it has ever been. The amount has been on the continual rise because of the ever-increasing college tuition fees. The cost of higher education is not proportional to the expected results from employment. There are limited jobs available and there is a high unemployment rate. College students today find themselves in debt for many years. Higher education is arguably expensive because the unemployment rate is high and students cannot pay off their student loans comfortably. The state should be able to support higher education but its revenues are fairly low.
Many have argued that the availability of scholarships, grants, and financial aid has made higher education become accessible and therefore affordable. Students can receive financial assistance from the state and federal agencies so as to afford college. However, the amount given is not sufficient enough to cater for the thousands of students. While students have financial options, the amount is not sufficient and students will struggle to pay for their college education. The availability of student loans has not solved the problem of the ever-increasing cost of higher education. Instead, it has created another problem of student loan debt. Student loan debt is at the highest because the cost of college tuition is high and unaffordable.
The cost of higher has tripled the amount in the 1970s, is unaffordable for the average household, and has led to a huge problem of student loan debt. Higher education should be affordable for everyone regardless of their financial position or social status. Students should be able to attend college without being in debt that amounts to thousands of dollars. A change in higher education costs is required to provide equal opportunities for everyone.
