The cost of college has been considerably rising over the last few decades. This development has made it harder for students to complete their college education smoothly. How these rising costs affect Americans is a constantly debated subject. The media, politicians, and other stakeholders have made this subject a major debate topic.
For example, when President Obama was campaigning, he made this issue a major campaign item. Statistics indicate that the rate through which college costs are rising is three times more than that of inflation.
This means that many students have to struggle to finish their college education and even when they do, they have to deal with several unpaid loans. This rise in college fees affects students in many ways. This essay seeks to investigate some of these effects.
The rise in college costs is hindering most students from pursuing higher level degrees. Instead, many students are opting for the more cost effective two year colleges. Statistics indicate that there has been increased enrollment in two year colleges over the last few years.
This is because entry to middle and higher level colleges is proving to be an uphill task for most students. Others are only seeking to join the higher level colleges after their two year colleges have provided them with a job.
Another result of rising college costs is that when most students leave college it is harder for them to buy homes. This is because by the time most students leave college; they have already accumulated huge amounts of money in debt. This in turn makes it harder for them to start saving money for a house when they get employed.
A survey conducted sometimes back indicated that only fifty seven percent of people between the ages of twenty five and forty four own houses (Choy 23). Two decades ago this number used to be higher. This shows a probable connection between rising college costs and a decrease in house ownership.
Students are getting into careers without necessarily having to train for them. Previously when someone wanted to start a business, he/she first joined business school in order to get the necessary training. Nowadays when young people want to get into a career, they are either just diving in or seeking alternative training.
For instance, there are people who seek attachment to mechanic shops and they end up with the same skills a trained motor engineer has. This is mostly because of the prohibitive fees that come with college training.
Socially, young people are delaying to start families as a result of the high college costs. The debts that come with a college education take time to offset. This means that other social engagements that require money like marriages and weddings are being delayed until one is financially stable.
Around sixty five percent of college students leave college with debts (College Board 4). Out of these, twenty five percent have debts exceeding twenty five thousand dollars. When these facts are put together, it means that some college graduates may be forced to forego weddings or even starting families.
High college costs do not have only negative effects. One positive thing about them is that they are adding value to college education. Major colleges in the country are receiving a record number of applications every year. This is because college education is changing some students’ lives.
The high costs of college education ensure that the quality and integrity of college education is maintained. If college education was cheap, it would be easy to obtain. This would then translate into its depreciation. In addition, because of the high value of this education, it is easier for college graduates to negotiate for better remuneration.
Many college graduates are pressured by circumstances to obtain jobs fast. This is because most of the times they have debts to start paying. When they lack the luxury of waiting for a good job, it means that they take up whatever job they can get.
This situation translates into many college graduates working in careers that are outside of their training. Sometimes due to frustration, college graduates end up taking careers that do not require a college degree. This decision is usually a painful one for most college students.
The rate of college completion is falling. Many students are not able to complete college due to these high costs. A study conducted to investigate this issue indicated that only about a quarter of those students attending college on a part time basis end up graduating.
This group is mostly consisted of those people who are working and studying at the same time. Moreover, higher college costs are making it harder for students from low income families to complete college (Ruppert 46). In fact, most people are of the opinion that college education is an affair of the middle and upper classes.
In conclusion, high college prices affect students and the youth in various ways. Although rising college fees seem to be a natural progression, stakeholders should act to balance its effects. This is because higher college prices seem to have more negative effects than positive ones.
Works Cited
Choy, S. P. Access & persistence: Findings from 10 years of longitudinal research on students, Washington, DC: American Council on Education, 2002. Print.
College Board. Trends in Student Aid, Washington, DC: Author, 1998. Print.
Ruppert, Samuel. Closing the College Participation Gap: A National Summary, Denver, CO: Education Commission of the States, 2003. Print.