The tuition has risen tremendously due to a

The hike in college tuition is one of the main problems we see in our generation today. The influx of college tuition has lead to student debt, dropouts, and financial stresses. Not only does this affect students economically, but in their future as well. This rise in college tuition has led to a decrease in enrollment and a number of teens not going to college. Up until the 1960’s, colleges around the United States were free or had very little to no cost. For example, in California, tuition was free until 1984. Tuitions at state schools were once highly subsidized by taxpayers, much like primary and secondary schools today. In addition to this funding that allowed colleges to be free at the time, the population of the students was not high due to the fact that the need for education at the time was very low. Most people back then were farmers and found no need in getting an education since it added no monetary value to their lives. Few people attended college, those who wanted to learn more about specific things, it was never for the money. After a while jobs started requiring college degrees and over the years, colleges realized they needed some sort of financial help to upgrade their technologies, to support and sustain the increase in students, and to pay the salaries of their staffs. This led to low tuition costs at first and as the year went by and the population of students increased, the tuition increased too but over the past few decades, college tuition has risen tremendously due to a wide variety of factors such as inflation and budget cuts in state funding. By not spending money unnecessarily, for example, using the money for construction that is not needed, colleges will benefit students by decreasing dropout rates, decreasing debt, and increasing enrollment.Throughout the past decade, college tuitions have increased because of budget cuts in state funding. Research shows that “for every $1,000 cut from per-student state local appropriations, the average student can be expected to pay $257 more per year in tuition and fees”(Seltzer). When the state issues these budget cuts, colleges are affected heavily because in most cases, the school pays for their teachers’ benefits and the money is also used to purchase technologies and materials needed in the school premises. A reasonable solution for the school to save money would be to duck all teacher’s pay, but this would affect the teachers in a very big way which could possibly cause strikes and lead into a much bigger issue, so colleges decide to increase tuition instead. This has been recognized as the typical reaction of colleges and universities after the budget cuts in state funding even though it could be avoided in various ways like cutting back on spending.Students across the country are affected by these college tuition hikes due to the fact that they often are unable to afford the full price of tuition. In result of this, many students resort to taking out loans. Keep in mind, these loans are mostly collected by students who barely have a credit score or have any knowledge of how credit works. These loans are accumulated throughout the student’s years of being in college and later becomes a debt. Research shows that $1.45 trillion in total is owed in student loans, which is spread out amongst 44.2 million American graduates and dropouts. This tuition hike increases the average loan being collected by students every year which later leads to student debts. Student debts are widely known to take a very long period to pay back after college. Statistics show that “if a 2016 graduate took the standard repayment plan for the $37,172 borrowed – 10 years, at 4.29% interest rate – they would be paying $382 a month for the next decade”(“Student Loan Resources” ).Student debt is very different from other debts like mortgages and car loans, in the sense that it cannot be avoided by claiming bankruptcy or even death sometimes. Bankruptcy is supposed to be a way to assist those drowning in debt but in this case, student debts cannot be discharged. In the 1970’s, “lawmakers put a ban on bankruptcy discharges for the first five years after a federal student loan was originated” (Keiler), and till this day there are still debates on whether student loans should be dischargeable through bankruptcy or not. Since these student loans take a very long time to pay off and cannot be discharged through bankruptcy, these borrowers get fed up and do not bother paying the debt and that results to bad credit which could impact their lives heavily. College is a great investment for everyone because people learn a lot of things that are helpful and useful later on in life and some students enroll in college even though they do not have the money to finance it. Since they believe that going to college is the easiest way to being successful, they take out loans to be able to pay their tuition. These students graduate college and get into the work field to work with the degrees they have earned and then end up giving all that money they earn to their loan collectors which makes students wonder if college is really worth it. Studies show that “51 percent of employed 2014 college graduates have jobs that do not require a degree” (“51 percent of employed”). When students take out loans to pay for their tuition, the main thought that goes on in their heads is that they might be fine paying it off after college because they are studying a major that will pay well after college. But what most students do not realize is that they are not guaranteed a job after the completion of their respective degrees and they are also not guaranteed to graduate with the major they began with. Research shows that “about 16% of students who did not complete any degree or certificate report being behind on their student loan payments” (Tompor). Due to the stress of college or financial issues regarding the tuition, students tend to drop out of college. Students who took out loans but did not finish their degree are more likely to default on payment than students who complete their degree and this is obviously because they have less chance of getting a job that pays well enough to support their living expenses and at the same time pay their student debt. This puts some of the students who drop out with student debts in a very tough situation because they really want an education but they cannot afford it and do not want to pile up more debt.                        When High School students graduate, most students look forward to going to college and do not mind paying the tuition but many get turned away by the cost of colleges and universities. The Fact Book states that “enrollment dropped to 18,667 down from 20,673 five years ago, about a 2,000-student decline” (“Tuition Increases”). The graduation rates have gone up in the past decade but the college enrollment rates are decreasing because of tuition costs. Students right out of high school cannot afford a college education so they decide to look for basic jobs instead which results in financial problems and unfulfilled potential. These tuition costs might not even reduce throughout the years because as long as the enrollment rate decreases the school loses money and the reaction, as usual, is to increase the tuition cost.The hike in college tuition has greatly affected the past and current generations in various ways such as the increase in student debt, dropout rates, unfulfilled potential and the decrease in college enrollment and this make us wonder if the tuition costs will ever decrease anytime soon.

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