The cost of college has been on the rise in the past years and many people believe it should be cheaper, but many people also believe it should stay the same. Many people have considered college to be “not worth it”.
The cost of college has been an issue for a long time but really came into the public view in the fall of 1972 when it went up from $200-$2,600. “It used to be that once in an undergraduate career, tuition would increase,” acting dean John T. Dunlop told The Crimson, the school newspaper. “But from now on, unless inflation is halted, there is no choice in the matter but to continue raising tuition.” The cost of most goods is going up and with it tuition is going up.
Debt has amassed to over 1.2 trillion dollars and continues to grow and loomes over students throughout their lives after college. This debt can shape a person’s life, pushing back weddings and families just because of how much they owe. Upper officials at colleges are getting paid too much and cutting their salaries down may bring it down but not enough to make it affordable for everyone. “Sixty-six percent of parents concerned with finances that have college-age students apply to college.” Author, Chris Pumphery, explains in his article, Tuition Talk: Side Effects of College Costs. Some students have amassed great debts and drop out of college with no degree to show for it. Which certainly does not help our economy.
The cost of college can’t decrease by law. Many private colleges have tried with good results in the first 2 years but most have applicants declining by the third caused by an “inferior good”. The low-cost of these colleges mixed with the lower population at these colleges mean bad business and force them to increase their prices. “Price-fixing laws exist for a very good reason - to keep entities from banding together to raise prices. Using these laws to stop colleges from banding together to lower tuition is banal public policy.” Ike Brannon writes in his article, Why the Government Won’t Let Colleges Reduce Tuition.
In conclusion, The cost of college is rising while we can’t do anything about it until congress decides to make it available for college presidents to do so. Yet, by making it available for most common families to afford college, more educated people will be able to graduate and provide a workforce for jobs that aren’t in existence yet.
Shoen, John W. "The Real Reasons a College Degree Costs so Much." CNBC. Getty Images, 16 June 2015. Web. 02 Nov. 2016.
Pumphery, Chris. "Http://campusriot.com/tuition-talk-side-effects-of-college-costs-infographic/." Campus Riot. Campus Riot, 14 Feb. 2014. Web. 02 Nov. 2016.
Brannon, Ike. "Why the Government Won't Let Colleges Reduce Tuition."Www.aei.org. The American, 17 Sept. 2014. Web. 2 Nov. 2016.