What’s Going On With Higher Education and the Truth About College
Higher education is one of the most expensive, least efficient, and most crisis-prone sectors in our society. Colleges and universities are facing an unprecedented array of problems at the same time that they are being asked to spend ever-more money on programs without any assurance that these dollars will produce tangible results. It’s no wonder that higher education has become an unlikely target for both left and right. In an increasingly polarized political environment, there is a widespread concern about the quality of higher education in the U.S. And for good reason: College has become far more expensive than it needs to be, leaving many students struggling to afford their tuition and fees or shelling out thousands of dollars in other costs before even getting started in college. The truth is that the cost of attending college has been rising much faster than inflation — which makes it much harder for would-be students to see if their plan B is worth it.
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What’s really behind the costs?
For decades, students and parents have been worrying about the rising cost of college. But the costs of attending college have been rising much more quickly than inflation. In fact, tuition and fees at public universities and colleges have increased at a faster rate than most other inflation rates. And these rates of increase are likely to be higher in the future.
The crisis in higher education as a whole
While there are many reasons college costs have risen at a faster rate than inflation, the main reason is that costs have been rising much faster than income. It’s been said that the average college graduate makes $200,000 more over the course of their career than someone who began their career as a baby boomer. That means that, at a time when the economy as a whole is growing, the gap between the rich and poor is wider in college than it is in the rest of the country. And that is clearly a very difficult situation for a college to operate in.
Why it is so hard for students to get into college
The growing cost of college, coupled with the lack of a clear path to admission, has led to a student crisis. In many areas of the country, it’s increasingly difficult for students to get into a four-year college or university. That means that many students who would benefit from a college education are being left out. The University of Missouri, for example, is a national leader in affirmative action, but it is one of only six public universities in the entire country to offer a mandatory admission test for undergraduate students. Some students may be denied admission to a prestigious university like this because they don’t qualify for a state-based lottery. Others may be turned away when they try to register for a class. Others may be rejected from a school that has decided to implement a “better-than-average” philosophy.
How rising college costs are straining affordability
Many people worry that rising college costs will lead to a decline in the number of students at public universities and a corresponding rise in tuition at private colleges. But that has not happened in either case. Instead, students at private universities have been able to increase their tuition fees and the number of students at public universities has either remained stable or fallen. That is probably because most students are seeking to attend a private college or university, which has the ability to increase its tuition fees and increase the number of students it accepts.
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What students can do to help ease college costs
There are a few things you can do to help ease the burden of college costs. The first is to make sure that you budget for them. If you are going to be taking out loans for college, make sure you understand how much you will need. Make sure you have a clear idea of what you want to pay each month and what you can save. Make sure you understand your financial obligations. And make sure you don’t make rash decisions without thinking about all of this. If you can’t afford to go to college, you can’t.
A new generation of college students is helping to change the game
There are many things you can do to help ease the burden of college costs. But the last thing you want to do is to pressure your child into going to college just to make a profit. That is one of the best ways to backfire. An increasing number of students are choosing to go to college on a part-time basis or with the help of a mentor. This is a great thing — it gives students more time to focus on coursework and their social lives. But it also allows colleges to get a bigger cut of their fees. If you are worried about the rising cost of college, you should be excited about this. Think about how you can help your child benefit from this growth in education.
Bottom line
Finally, make sure to keep in mind that college is not a get-rich-quick scheme. It is a life-long learning experience that can provide you with a career and a degree that will help you get ahead in life. And it should be affordable.