The forces responsible for the increasing cost of college are not justified. The government and colleges themselves both are factors that influence the sticker prices of universities. Because of the Great Recession of 2008, state and local governments have enforced appropriation cuts for higher education. State budgets experienced harsh declines, for state funding per student decreased 6 to 15% in 2008, which made a lasting impact, as shown in the upcoming years. Over the course of a decade from 2001 to 2011, state subsidies per student decreased 2 to 4%. As a result, the average full time student paid 1 to 4 % more in 2011 than 2001 (Desrochers and Hurlburt). Furthermore, since state governments increased financial aid to students, colleges …show more content…
However, colleges themselves also contribute to expanding college tuition rates. Universities increase fees for funding numerous programs with a goal to attract students and compete with other colleges by providing modern, appealing services. For example, since 1994, transportation, housing, textbooks, food, and medical care fees have significantly increased (Schoen). Meanwhile, money generated from students fees are used to finance pricey, modern amenities and buildings, for from 2001 to 2011, student services expenses rose from 17 to 20% of the school budget (Desrochers and Hurlburt). Student fees are also used to fund 50% of the money that universities provide to intercollegiate sports (Selingo). In addition to increased program funding, college payrolls contributed to the rising cost by expanding 28% from 2002 to 2012, especially in non-teaching jobs for student services (Schoen). Therefore, the college factors are not justified because although every student is required to pay fees for amenities and sports, most are not related to the majority of student services, causing an unnecessary burden on …show more content…
Families who cannot afford college borrow loans and hold increasingly deep debt, for one hundred million dollars are borrowed yearly. In order to repay loans, families must work full time jobs because tuition is increasing faster than median household incomes, as shown from 2000 to 2013 when the average median household income only increased 24% while tuition/fees increased 87% (Schoen). Current college students are affected by the rising cost as well as families. In 2017, 55% of students could not afford college and borrowed money. Out of those students, 51% of students dropped out and 53% delayed their intended graduation date (Brown). Families and current students are not the only ones negatively impacted by the rising cost of college, for student loan debt generated by the increased tuition and fees overwhelms graduates and influences long term decisions. In 2016, the average graduate left college with at least $35,000 in student debt, and currently, about $1.45 trillion in student debt is owed to the US government. Based on a survey conducted in 2016, 73% of borrowing graduates delayed saving for retirement, 47% delayed buying a car, and 63% delayed buying a house (“Student Debt”). Overall, the concerning effects of the rising cost of college on families, students, and graduates foreshadow an unstable future