Why Should College Tuition Be Reduced?

Higher education nowadays may make the difference between someone’s future being satisfactory or not. Many positions, whether in business, health, technology, or education, need some form of degree in order to get recruited, and obtaining that degree from a college demonstrates effort and expertise in a certain skill. By teaching them courses and assisting them in the development of independent living skills, college also helps students become ready for the world they will soon enter. Additionally, some individuals meet their lifelong partners and greatest friends while in college. Even while attending college has numerous benefits, the high tuition expenses have started to discourage kids from wanting to enroll. The average cost of college tuition has been rising and is now at an all-time high. This includes expenditures for housing and board, transportation, books, courses, enrollment fees, as well as use of computers and the internet. These institutions make advantage of population growth as a marketing tool. They are aware that there will always be a sufficient number of wealthy and intelligent pupils. So they raise their tuition costs to seem more distinguished and generate more money.

The average expense of a college education has reached exorbitant levels. In-state tuition at public National Universities increased by 63% during a 12-year period, from 2008 to 2020, according to Farren Powell, an expert on student financial assistance, and Emma Kerr, a writer covering universities (2). This implies that college students spend more money in order to get a better education. In a short period of time, the price of tuition has grown by more than half. Consider how much tuition would rise in the next ten years due to inflation and economic developments. That is an absurd price rise merely for a college degree. According to a Sarah Goldy-Brown research on typical college expenditures, “tuition at a four-year private institution costs an average of $34,740 for the 2017–2018 academic year. In-state tuition at public colleges is $9,970, while out-of-state tuition is $25,620. (Brown 2). It would cost a pupil around three times as much to attend a school outside of their native state. This limits the student’s options since they would have to look for a college in their home state where they could afford to attend.

The high tuition costs are composed of several payments that are added together to form a single cost. Tuition is the main component of the college cost, according to Ken Clark’s essay in the balance on the fundamentals of college tuition. It is the cost of taking each course, and it is often determined by the number of credits. A three-credit undergraduate history course, for instance, may cost $900 if a college charges $300 per credit for undergraduate courses. College students often enroll in three to five courses every term, with the average general education course carrying three or four credits. (Clark 2). Students must pay for accommodation and board in addition to each class. Many institutions require students to live on campus for their first year or two of attendance. While some students may attempt to avoid paying for housing by moving back home (Clark 5). As a result, the student would be able to engage completely in all campus events and better adapt to the school’s culture. Being able to practically walk wherever they need to go while living on campus adds to the convenience of things. The cost of tuition does, however, increase as a result, and thus calls for a cut rather than an increase in college tuition.

The expanded possibilities that would be provided to each student is one justification for lowering the costs. 70% of Americans will attend a 4-year college, but less than 2/3 will complete with a degree, according to College Atlas, an organization and website that provides recommendations to education and numerous resources related to college. Children from low-income families were 7.6 times less likely than children from wealthy families to obtain a bachelor’s degree (4). In essence, kids from poor financial backgrounds are seven times less likely to finish a full four-year college. These pupils aren’t given many chances or incentives to strive to escape poverty as a result. The first few years of college are attended by a sizable number of low-income students, but according to a Fox Business story by Jade Scipioni, “Each year, around 2 million students apply to banks for crucial “last gap” loans to graduate. Students without cosigners are rejected, and the rejected cohort is disproportionately made up of low- and moderate-income students (Scipioni 6). The “51% drop-out rate” may be explained by the fact that these low-income students are denied bank loans because they lack a cosigner to ensure that the money they borrow would be repaid (Scipioni 1). Due to this, kids from low-income families have less opportunities to get a decent job, which puts them at a disadvantage. This starts a vicious cycle where their child(ren) can’t afford to go to college and then must accept a job that pays little. Due to the high expense of college tuition, the student and their future family will ultimately have few opportunities.

Many students will choose to take out student loans in order to assist them cover the expenses of tuition in order to afford going to college. However, those loans and debt may sometimes make it difficult for them to realize their dreams of owning a home or even force them to work several jobs in an effort to pay off the debt that has hampered their future. According to the Federal Reserve Bank of New York’s most current figures, total student debt has surpassed $1.3 trillion, according to a report by U.S. News. With a 170 percent growth over the last ten years, it is the one area of consumer debt in the United States with the highest growth. Approximately 44 million Americans presently owe money on student loans, and 8 million of them have already stopped making payments (U.S. News 1). As “the typical student currently owes roughly $27,975 upon graduation,” student debt is substantial and rising (Scipioni 4). Due to the high cost of college tuition, many students will have to take out loans, which will put them in a lot of debt. Stress will increase as a result, and financial stability will suffer. They will be prevented from experiencing financial progress as a result, leading them to make less wise financial choices. This slows down economic progress, which prevents humanity from making further advancements.

Humans will need education and employment in order to create new advancements. According to data from the Federal Reserve Bank of St. Louis, earnings only grew by an average of 0.3% each year between January 1989 and January 2016, according to a Forbes article. That’s correct, the expense of attending a university rose about eight times quicker than the rate of income growth. While the price of a four-year degree skyrocketed to $104,480 between 1989 and 2016, actual median salaries only increased by $54,042 to $59,039 (Maldonaldo 8). Eight times more has gone into the expense of education than the average pay rise. For instance, a student may choose to enroll in training to get a position that requires them to assist others. Despite the $250 training fee, students will get $5,000 over the course of three summers. This individual chooses to enroll in the training since they are aware that the salary they will get will be more than the expense of the program. They may attempt a new employment if the expense of the training was more than their pay. The part-time student job is comparable to the full-time employment the student would have after graduation, and college is like a training program. However, the training (college) is two times more expensive than the actual work, not the other way around. Today’s students pay significantly more than they make, therefore for many of them, it is not worthwhile. So why are education costs so high?

The high cost of tuition is caused by a variety of factors. “Higher enrolment has meant an expansion of financial-aid programs, a need to expand budgets for faculty compensation and on-campus student services, and a loss in financial assistance from state governments,” reads an article from Business Insider. (6 Hoffman). Colleges have begun to invest an increasing amount of money on their academics and other faculty jobs. Additionally, they invest a lot of money enhancing the campus, which makes living there enjoyable and pleasant. However, this raises tuition expenses, and because state government financial aid is declining, students pay the price. The high expenditures associated with supporting collegiate sporting teams are another factor contributing to tuition increases. In an article by Cathaleen Chen, it is said that “universities spend almost seven times as much on players as they do on teaching students” and that “82 percent of college football teams lose an average of $11 million each year.” However, since 2000, the average cost of tuition and fees has almost doubled. (Chen 2). This implies that the tuition for the whole institution, not just the player’s tuition, is impacted. Additionally, there have been 20 more players added to college football teams and over 40 more teams added to soccer programs. Golf has become one of the most expensive sports in terms of per-athlete expenditures. (7) Hacker If the fees for golf players have risen that much, then the costs for the other programs must also be skyrocketing. Colleges must then evenly distribute the cost of an athlete’s tuition among all students, meaning that if the cost of an athlete’s tuition rises, so do all other students’ tuition prices. Additionally, institutions boost tuition in an effort to maintain their competitiveness by investing more in excellent professors. In the last 30 years, teacher salaries at Yale, Stanford, and Ivy League universities have all increased by over 50%. Hacker 11 and 12. Higher-tier professors are costing colleges more money, but they aren’t using them to their maximum potential, which is detrimental to students’ ability to get a better education. Instead, these universities employ them to convey the impression that they are home to the finest of the best, keeping them competitive with other universities and giving them a justification to increase tuition.

Colleges spend a lot more money on services like meals, housing, and the whole campus, in addition to a loss in funding from the state government, sports, and professors. According to a Sarah Goldy-Brown article in Student Debt Relief, “Students at four-year public in-state colleges spend $10,800 more on room and board than they do on tuition. The total cost of them then rises to $20,770. The cost of room and board for out-of-state students is the same at $10,800, making their total cost an average of $36,420. Private four-year institutions charge $12,210 extra each year, for a total cost of $46,950 per year (Goldy-Brown 3). Students may choose to live at home and travel everyday to school since living on campus costs such a significant percentage of college tuition. By doing so, it drastically limits the student’s options since they are forced to attend a college near enough to their home to make the daily drive.

Overall, all of these variables significantly raise tuition prices, yet they are to the college’s advantage rather than the students’ education. In an effort to attract more students, schools work to improve their campus and provide additional “extras.” However, these students are unaware that some of their money is going toward those rather than their education. There must be a cap on the price of college tuition in order to prevent tuition costs from growing. It might be conceivable to limit college tuition if state governments helped pay for certain aspects of tuition, such as housing and board or faculty salaries. It might also be beneficial to charge a flat fee for college courses, as described in Ken Clark’s article: “Some schools and universities give a flat payment for tuition, which covers a minimum and a maximum number of units every semester. For a student who is dedicated to a full schedule of courses each term, it may work nicely. For instance, a college may have a set tuition of $4,500 every term for at least 12 but no more than 18 credits in addition to charging $300 per credit. A student taking a full load pays $250 per unit, whereas a student taking just 12 credits spends $375 per unit (Clark 2).

Many nations have made the decision to provide free higher education. More than half of the OECD nations provide free college, according to a Max Eden essay. They typically enroll more students than the US but have lower postsecondary educational achievement rates. Overall, the OECD nations with free higher education have an achievement rate of 38%. In countries that charge tuition, the rate is 43%. Among the most developed nations, the G-7, those where students are charged tuition (Japan, 59%; Canada, 58%; United Kingdom, 48%; United States, 46%) all have higher levels of postsecondary educational attainment than those where tuition is free (France, 44%; Germany, 28%; Italy, 24%)” (Eden 4). This is saying that the countries that give free college have more people enroll, but more people drop-out before graduating. Some people may use this in their argument for why college tuition shouldn’t be lowered. However, instead of making colleges in America completely free, putting a cap on tuition to make the cost an affordable price. For students who come from a low income family, it would persuade them to try and find a part-time job, as the tuition prices will become affordable after some saving up, instead of completely out of their arm’s reach. And for all the money the colleges are losing, state governments could help fund college athletic programs, or help pay for room and board.

In order to stop the rising costs of college tuition, there needs to be a limit to the costs and certain areas of college should be paid for by the government. If these changes get put into place, each individual student would have more opportunities to get a higher education, no matter if they come from a low-income family or not. This would motivate students to do better in high-school or find a student job. Overall, the economy and workforce would (Opportunity for students, more motivation to do well in high school, get student jobs, better for economy and workforce) (Opportunity for students, more motivation to do well in high school, get student jobs, better for economy and workforce)