college education

 

 

 

college education

 

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A college education is expensive, and students shoulder most of this financial burden. Loans are their main source of financing with very little government help. The federal government offers financial support, but the finances are directed towards bureaucracy, leaving very little money for classes and student needs. Instead of cutting back on administration fees to subsidize student expenses, it is sometimes overestimated as a marketing strategy (Hout, 2012). Fees that are too high puts students in social classes, sometimes even denying qualified candidates spots. Giving financially capable people an upper hand and access to the best of amenities.

College education should be accessible to everyone and equally when funding is sufficient to encourage those from lower social classes to access higher education. Some students cannot access costly students’ loans. Some prefer not to borrow money to focus on revenue generation to ease the financial burden. Those who take loans are so expensive that they can barely afford to own a home after graduation. Most of the finances acquired are diverted to pay for their student loan, denying them financial freedom when acquiring an education.

Student debt has increased by almost 107% from around ten years ago. College education cost has increased by 25% (Hout, 2012). Such figures are a direct reflection of recessions and financial crises that markets face. Student debt is impossible to pay off as it takes almost ten years to fully pay-off. Most adults who are graduates spend their most productive years on student loan repayment. When such demographics are given to the general population, they opt totally to skip college or are forced to deal with it. Despite the financial burden, one is guaranteed better pay with a college education.

References

Hout, M. (2012). Social and economic returns to college education in the United States. Annual review of sociology, 38, 379-400.