3 pages/≈825 words
The High Cost of College Education (Essay Sample)
Reasons to why the cost of college education is soaring, and the best way to reduce them.source..
The High Cost of College Education
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The High Cost of College Education
Colleges are making the headlines a lot these days, with much of the publicity becoming clearly unfavorable. Despite the negative aspects exhibited in colleges, for instance riots, drinking, various scandals, and remedial courses frequently taught in the institutions, the central topic has been the steady rise in the costs of college education. College education has become unaffordable to most of the students or for those who are planning to join, attributed to the high cost of living and high rates of inflation (Martin, 2005). Similarly, the tuition fee is increasing faster than the rate of inflation, or even peopleâ€™s income, making the attainment of college education out of reach for majority families (Martin, 2005).
Evidence and Reasons of the Increase in Cost of College Education
There is a significant increase in the net tuition and fees, during the period from the 80s through 2000, for both public and private institutions. It is always evident that during recession, businesses usually tend to moderate price increases, often into the early years of recovery. However, by contrast, colleges tend to increase prices in recessionary periods and early recovery years (Vedder, 2004). Similarly, the real tuition- roughly the difference between the rise in tuition and the overall inflation rate-rose by five percent or more in 1982, 1983, 1992, and 2002, in all recessions and early recovery years (Vedder, 2004).
The increase in the cost of college education can be ascribed to plethora of facets, which encompass the tendency of university or colleges to have a vast fiscal behavior (Vedder, 2004). The colleges and university tend to make up their budget many months before the end an academic year, typically calling for generous spending (Vedder, 2004). In tandem to this, when there are unexpected or abnormal revenue shortfalls from non-tuition sources, they make up the difference by automatically raising the fees (Vedder, 2004). Further, there is change in the current trends of technology, and there is significant need for the application of technology in schools, thence, creating the need to increase the cost of education, in order to match all the technological aspects.
Many individuals have been championing for the reduction of the cost of college education so as to allow, an equal and easy access to facilities of higher levels of learning. This follows after the disparities that are created in job and wage allocation, in students or individuals with different academic achievements (Martin, 2005). Thus, it becomes fundamental to have the basic principles, on how to reduce the cost of education or on how to manage the tuition fees. The research will therefore strive to bring to light the causes of increase in college fees. The research will also attempt to provide remedies to parents and student and the government of how to avert the problem of high college fees.
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