College Tuition free essay sample

A Hardship for American Families To flourish in America today, the average student will have to go to a high-quality college, earn a degree and land a successful job to eventually support a family. However, success is easier said than done, because all of those steps are vital. The step that many Americans struggle with is affording a high-quality college, not because they arent smart or skilled enough, but because Americans cannot pay for the pricy tuition and additional expenses. The rising of college tuition scares many, even though they yearn for a college degree. Two reasons for this struggle are that college costs are taking a monumental percentage out of Americans salaries, and most importantly the large amount of debt students await after graduation. Even though many people succeed in our country today, most Americans struggle to send their child to a good college to fulfill his or her dream. Even though many Americans succeed in our country today, most Americans struggle to send their child to a first-class college to fulfill his or her dream. B ooks, housing, tuition, and transportation combined for college dents a hole in Americans annual income. The cumulative college expense is stealing too much money out of Americans wallets. Even though many think college is worth the price; is it worth risking all that money? For example, in 2012, college cost took 55% of the lowest income Americans salaries compared to only 39% from 1999- 2000. For those Americans, college seems like a long shot because they still have to pay for the of living, which includes food, housing, and paying taxes (Update:  College  Tuition Costs) . Also, college costs took 25% of the total salary of middle- income families and16% of upper- middle income families (Update:  College  Tuition Costs). For those families, college is a huge possibly, but those students will still have a large amount of debt to pay off afterwards. The impact of these percentages rising is the fact that Americans might not be able to send their child to the college of his or her choice because of rising costs. Americans may argue that these rising percentages cause colleges to make more money and eventually put more Americans to work by establishing different programs. In order for colleges to succeed, they will an increase in enrollment, to eventually force colleges to make the college dream more affordable. If the price of college decreases, the debt that awaits most students post graduation will decrease immensely. The rising college costs are pinning Americans with thousands of dollars of debt post graduation. Recent studies show that sixty nine percent of families eliminated college choices because of costs (Adams). Parents want the best for their children, and want to do anything for them. Conversely, at the end of the day, families need to think what they can financially afford; and in our economy today college is not affordable. For example, in 2012, the average student debt after college was $25,250. 0. Because of this massive amount of debt, Americans are constantly scrambling to earn extra money to eventually pay off the debt (Average Student Loan Debt: $25,250). The impact of college debt is that Americans are struggling to spend more money on necessities because they are too busy worrying about their college debt. Americans may counterclaim that most Americans eventually pay off their college debt. That is not the point. The point is that most Americans walk out of graduation with thousands of dollars of debt, and that in some cases it is unavoidable. The Pew report found that even the richest twenty percent of households, owed the biggest share of student debt (Yen). Even families whose income exceeds seventy thousand a year struggle with paying tuition. Should families sacrifice college in order to save money? No, college is important and tuition must be lowered in order for family and students to constantly stop worrying about finances. The combination of the price to afford college and the amount of debt that awaits most Americans after graduation is outrageous. Even though many Americans succeed in our country today, many Americans struggle to financially afford to send their child to a commendable college in order to acquire a prestigious degree. This is truly a shame, but in some unfortunate cases, inevitable. In these tough economic times, Americans need to be a part of at an excellent college, but they will first have to overcome huge obstacles. Someone has to give in order for Americans to succeed. Christine McKeon Mrs. Hayes Honors English IV 12 December 2012 Works Cited- Argumentative Paper Finnegan, Leah. Average Student Loan Debt: $25,250.   The Huffington Post. TheHuffingtonPost. com, 03 Nov. 2011. Web. 06 Dec. 2012. Update: College Tuition Costs.   Issues amp; Controversies. Facts On File News Services, 22 Feb. 2010. Web. 7 Jan. 2013. lt;http://www. 2facts. com/article/i1400140gt;. Adams, Caralee J. College Choices Shift in Tough Economy.   Education Week  8 Aug. 2012: 4. Opposing Viewpoints In Context. Web. 12 Dec. 2012. Yen, Hope. Student Loan Debt Stretches To New Record Number Of Households: Pew Research Analysis.   The Huffington Post. TheHuffingtonPost. com, 26 Sept. 2012. Web. 12 Dec. 2012. Gale Database: Update: College Tuition Costs.   Issues amp; Controversies. Facts On File News Services, 22 Feb. 2010. Web. 7 Jan. 2013. lt;http://www. 2facts. com/article/i1400140gt;. A record 18. 4 million students enrolled in U. S. colleges for fall 2009, the last year for which data are available. A college degree or advanced degree—whether an associates degree, which typically takes two years to earn; a bachelors degree, which often takes around four years; or a degree that requires even more study, such as a masters or doctorate—is seen as essential for a person wishing to join the so-called knowledge-based economy. If one aspires to any of a variety of jobs, whether a low-level office worker, a heart surgeon or an investment banker, the pursuit of that position starts with obtaining a college degree. College tuition, however, is increasingly expensive, and typically rises each year, often at a rate that far exceeds the rate of growth of the consumer price index, an economic indicator that tracks changes in prices. Consequently, the inflation-adjusted cost of attending college in the 2008–09 academic year was approximately three times more than the cost of attending college in 1973–74. Many critics have questioned that drastic increase, arguing that it is not fair for todays college students to pay tens of thousands of dollars more for a college degree than students did several generations ago. [See  Update: College Tuition Costs] In December 2007, the U. S. entered an economic recession, further complicating the college-tuition debate. The recession has caused colleges across the U. S. to tighten their belts and reduce spending. At the same time, most schools have raised their tuition, although the rate at which they have done so for recent school years was not nearly as drastic as in past years. The average four-year public college or university increased tuition 6. 5% between 2008–09 and 2009–10, while tuition at private colleges and universities went up 4. 4%. Both of those rates are higher than the overall rise in the consumer price index over that time, 3. 8%. Nevertheless, college tuition remains a source of fierce debate among parents, students, college administrators and government officials. In 2009–10, the average four year-public college charged in-state students $15,213 in tuition plus room and board; the average private institution charged $35,636. Does college in the U. S. cost too much? Critics of college tuition costs say that college is becoming increasingly the domain of the wealthy, with a growing number of lower-income and middle-class families unable to pay the stratospheric costs, including tuition, room and board, books and other miscellaneous expenses. College students who manage to graduate are typically saddled with enormous debt, critics say; they note that many students have even begun paying their tuition with credit cards. Critics also assert that many students do not even receive an adequate education in return for their money. Because college is so expensive, most students graduate with significant amounts of debt. A College Board report found that roughly 66% of students who earned their bachelors degree in 2008 graduated with outstanding student loan debt. On average, students graduating in 2008 owed $23,200, according to a study by the Project on Student Debt, a non-profit organization. That figure represented an increase of about 25% increase over the corresponding 2004 data, suggesting that student debt is growing at an alarming rate. Finnegan, Leah. Average Student Loan Debt: $25,250.   The Huffington Post. TheHuffingtonPost. com, 03 Nov. 2011. Web. 06 Dec. 2012. Members of the college class of 2010 who took out student loans owed on average $25,250 upon graduation, a 5 percent increase from the year before, according to a new analysis released Thursday. The figures, compiled using college survey data by The Project on Student Debt, indicate average indebtedness increasing at about the same annual rate as in the last five years, but still give a fresh snapshot of what many advocates and experts call an alarming reliance on borrowed money to pay for college. Roughly two-thirds of the class of 2010 borrowed for college, and they were hit especially hard because the unemployment rate for new college graduates stood at 9. 1 percent the year they graduated – though thats less than half the rate for counterparts who only have a high school degree. Another cause for concern: because of data limitations, the figures do not include students at for-profit college, where other recent data show 96 percent of graduates have loans and they borrow nearly 50 percent more than those who graduate from other four-year schools. Debt levels do vary widely from school to school, and from region to region. The average level at individual colleges ranges from $950 to over $55,000. The report identifies 15 nonprofit institutions where students graduate with unusually high debt levels, a list that encompasses schools ranging from Regent University in Virginia to New York University to a number of art schools. Meanwhile, students in the Northeast and Midwest generally had substantially higher debts than those in the West. New Hampshire had the highest average graduating debt of any state at $31,048, while Utah was lowest at $15,509.