...to attend college and earning less upon graduation—trends that have led many observers to question whether a college education remains a good investment. However, an analysis of the economic returns to college since the 1970s demonstrates that the bene ts of both a bachelor’s degree and an associate’s degree still tend to outweigh the costs, with both degrees earning a return of about 15 percent over the past decade. e return has remained high in spite of rising tuition and falling earnings because the wages of those without a college degree have also been falling, keeping the college wage premium near an all-time high while reducing the opportunity cost of going to school. The sluggish labor market recovery from the Great Recession has refueled the debate about the value of a college degree. Although the unemployment rate of college-educated workers has remained well below average, there is mounting evidence that recent college graduates are struggling to nd good jobs.1 At the same time, college tuition has risen sharply, reaching record highs, and col- lege graduates are increasingly nding themselves saddled with debt from student loans used to nance their education. By the end of 2013, aggregate student loan debt in the United States exceeded $1 trillion, and more than 11 percent of student loan balances were either severely delinquent or already in default.2 With the costs of college rising and the bene ts in doubt, many are wondering whether earning a college degree still...
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...We demand that North Carolina offer free college tuition to all undergraduate students attending a public university. Student loan debt is crushing our students short-term and long-term with the total amount of student loan debt; in America student debt was estimated to be about $1.3 trillion in 2015 (Should College Be Free? Pros, Cons, and Alternatives, 2017). Also, the debt to income ratio is ridiculous with the average salary of a college grad being $48,127 in 2014 while incurring $37, 172 worth of debt according to statistics of the 2016 college graduates (A Look at the Shocking Student Loan Debt Statistics of 2017, 2017). Lastly, with free tuition in North Carolina for college undergraduates the lower SES population will have opportunities...
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...cover, whether it be because of their unpopularity, controversial viewpoints, or bias of sponsors. Senator Bernie Sanders is one of these such candidates, and being a self-declared Democratic socialist, he is a candidate whom the news media would rather ignore. The first Democratic Debate on October 13 (hosted by CNN), Hillary Clinton, being a previous candidate and well-known politician, was promptly declared to have “won” the debate by CNN, despite most focus groups declaring Sanders to be the winner. During the debate, Bernie Sanders made what many considered to be bold, revolutionary statements, such as his belief that college tuition should be nonexistent. Bernie Sanders is the best candidate for President of the United States for 2016 because he will lessen the wealth gap, strive for...
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...confidence in many of our most important institutions including our colleges and universities. A common criticism focuses on how education expenses continue to rise in America. Although America continues to be one of the most educated countries in the world, we have fallen behind in the percentage of young people with a college degree. As the numbers of problems have increased over the past decades, many constituencies of the higher education system have searched for stronger managers and visionary leaders. Colleges and universities need leaders and managers who can turn their visions into realities (Pietrucha, 2012). It is wise for leaders to start thinking about the needs of their followers who require support, encouragement, and reassurance and guide them through this period of vagueness and uncertainty. Summary of Political Arguments A recent political argument, the post-trillion dollar status achievement in the area of student loan debt shows no signs of reversing itself. In 2010 there were $100 billion in education loans taken out by U.S. citizens (Pietrucha, 2012). The rate of higher education cost has increased at a rate three times that of inflation over the last two decades, with average increase in college tuition around four percent annually (Pietrucha, 2012). Notwithstanding, government is continuing to encourage young people to take out higher education loans in their continued pursuit of a college degree. In his speech in Ann Arbor, Michigan, President Obama offered...
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...Case Study: Economic Crisis and Higher Education in the United States The 2008–2012 economic failure is considered by many economists and investors to be the worst financial crisis since the Great Depression of the 1930s. It results in the risk of total collapse from big financial firms, the bailout of banks by national governments, and downturns in stock markets around the world. The crisis also plays a significant role in the crash of key businesses and collapse of housing market, results in the delayed unemployment. Higher education is a large and various venture in the United States, which has impacted by the economic recession in a number of ways, but these impacts have not been the same and vary depending on state and type of institution. Most higher education traditions started to be concerned about their financial problems due to economic recession. Their main source of revenue has been hurt by the downturn, and that those universities would need to make hard decisions about how to spend their money. In some states, a lot of institutions are in process of fund-raising programs to avoid delaying their supported campus building projects. Many of higher education university’s leaders have been considering and solving of two following questions: How is the economic downturn affecting institutions both public and private? What strategies are leaders implementing to guide their institutions? Unsuccessful budget strategies are the main reason that caused many...
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...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...
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...Related Literature College enrollments have continued on an upward climb for decades, as more and more people recognize the value of a college education, especially the tangible value of the diploma in the marketplace. The past few decades have witnessed growing diversity in higher education, but with that diversity we also see dramatic changes in how students are funding their college educations. Adult degree seekers, first-generation students, students of color, and students from low-income backgrounds have become a mainstay in the growing mix in college today. This new mix challenges the persistent image of the of the “traditional,” direct-from-high school, white, middle-class college student on a residential campus, who may work part time, is dependent on parents, and graduates within four years. In fact this picture represents less than 27% of college students today (Choy 2002). Today’s college students face a complex set of dilemmas about whether to attend college, where to attend, how to pay, how much to work, how many jobs to take, how to pay credit card bills and car payments, how to juggle family and children, and how to balance these competing priorities while in school. The amount of time students spend working has been of increasing concern for the educators that serve them and, in some instances, the students themselves. Recent data would indicate that 80% of American undergraduates worked while attending college in 1999-2000 (King, 2003).This represents an...
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...Fast-forwarding to now, there are about 15,000 soldiers left in war and more to come home. When Obama first took office, he did promise the American people that he would bring our troops home and end the war. Next, Obama was able to lower gas prices and make “America number one in oil and gas and as well number one in wind power.” Like other Americans like me, who use a car as a source of transportation to get to work, school, and etc., it’s a big relieve that we wouldn’t have to pay outrageous prices just to fuel our cars. Another thing Obama has touch basis on and made a change about is education and jobs. He stated, “Our younger students have earned the highest math and reading scores on record and as well the high school graduation rate has hit an all time high.” I believe the reason this is happening is because there is more teachers than ever wanting to teach and spend time with students to help them understand the work. In addition, with the motivation from...
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...Is Lack of Jobs in the United States the cause for recession since 2007? Is Lack of Jobs in the United States the cause for recession since 2007? As per John Fitzgerald Kennedy former president of The United States of America (1961-1963): “The American, by nature is optimistic. He is experimental, an inventor, and a builder who builds best when called upon to build greatly”. Although this great democratic country has had bleak periods in its economic history timeline because political, money, and wars through-out time. However, Americans recuperate their path back to brilliant and fascinating rich economy. It is not easy to do so, to get back into good economical shape, however it is feasible. In the 20th century, ending of the 1920’s a severe worldwide economic depression ever experienced in the industrialized force. Although the Great Depression commenced in the United States, it spread over to 15 countries to say the least. Causing gargantuan unemployment rates ever recorded in America and Europe. Moreover, it stroked partially Japan and Latin America. The devastating economy deficiency went on to reach its peak point until 1933, which marked the year that America started to recovery, but went on for almost 7 more years. Approximately lasting till 1939. After this awful period, another, but not as large compared to the Great Depression. In the early 1980’s the country experienced another recession causing yet again employment lack and GDP (gross domestic price) to rise...
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...Park Avenue Money, Power and the American Dream Introduction and Summary Park Avenue: Money, Power and the American Dream is a documentary about how the American Dream is disappearing across the country. When the Great Recession of 2008 hit, many of the people living across Park Avenue lost their jobs and income (Park Avenue, 2012). People living in the South Bronx depended on food stamps to survive during the bad economy (Park Avenue, 2012). They faced failing school systems and many African Americans failed to graduate from high school (Park Avenue, 2012). America needed to fix the problem by electing a democratic congress to solve the problem with unemployment and increase the graduation rate. Gap between the Poor and Rich. I was surprised that the gap between the poor and the rich has been getting wider in the last thirty years. I...
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...Writer: J.T. Assignment: "Why college education is important to me" October 2, 2013 In today’s society it is a prerequisite for survival to obtain a college degree. It’s a goal one must have in order to make a new beginning and to be able to combat life’s challenging issues, to hope and strive for a better future. The college opportunities compared to the past 20 years have increased tremendously since online distance learning has become an important gateway for education, especially for those who don’t have the time and convenience to attend a traditional college. According to Collegeboard, “The typical bachelor’s degree recipient can expect to earn about 73 percent more over a 40-year working life than the typical high school graduate earns over the same time period “. It’s almost impossible to get job in an economy that is in recession without a college education. I have attempted multiple times to apply for a new job without success. Employers are demanding more of job candidates than ever before. The college degree is becoming the new high school diploma, the new minimum requirement. In fact it shows that, “data from the government proves that higher education degree completion is important for job seekers; according to the Bureau of Labor Statistics, in 2009 the unemployment rate was more than twice as high for persons without a high school diploma than for persons with an Associate’s degree. That gap widens to three times in comparison to persons who a...
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...Free College Education: Right vs Privilege In one of his speeches, Leonard L. Boswell, a former U.S. Representative for Iowa's 3rd congressional district, quotes “The American Dream is one of success, home ownership, college education for one's children, and have a secure job to provide these and other goals” (Ersoy). Over the years, college tuition fees have increased immensely. Statistics show that the average in-state tuition fees at public four-year schools increased from $8,646 in 2012-13 to $8,893 in 2013-2014. In 2013-14, the percentage increase in tuition fee prices for out-of-state students was 3.1% which was slightly higher than that for state residents at public four-year institutions. There was an increase from $12,887 to $13,310. The $110 increase in average tuition and fees for full-time students in a public two-year colleges reflected a 3.5% increase from $3,154 in the years 2012-2013 to $3,264 in 2013-14. The $1,105 increase in average published tuition and fees for full-time students at private nonprofit four-year institutions reflected a 3.8% increase from $28,989 in 2012-13 to $30,094 in 2013-2014 (“Trends in Higher Education”). Furthermore, between the years 2001 to 2011, at least a third of states experienced funding cuts. During the recent recession in 2008, total public funding for higher education has declined by 14.6 percent (O'Shaughnessy). Consequently, the escalating cost of college tuition has threatened educational opportunities for...
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...higher. * To know how taxpayers, future Social Security and Medicare users, and unemployed individuals are affected by the U S.’s deficit, surplus, and debt. It is important to understand the definitions of deficit, surplus and debt. Surplus occurs when there is more supply than demand, as in extra resources. Deficits occur when a government's expenditures exceed the revenue that it generates. Debt is an amount owed to another person or government in economics. * Taxpayers can benefit from a budget surplus. A surplus can create a reduction in the tax rate which leads to a higher consumer’s savings rate. The less taxes that consumers have to pay allows spending or savings in other areas. An increase in national savings (reduction in tax rate) also creates additional money that can be available for banks to lend. The more money banks have to lend competitively, consumers purchase items at lower interest rates and support stimulation in the economy. * Deficits can cause a cloud over the taxpayers. The bills need to be paid, and it will fall on the taxpayer to assist in lowering the debts. Armed with the idea that taxes will be raised to pay down debts is not a comforting thought. Wondering...
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...College Dropouts: Can CSM do more? Every year even a greater number of high school graduates decide to attend, four year and community, college as an extension of their parents’ “American Dream”. Yet consistently even a greater number of them become college dropouts after a short stay. Yvonne Raley states in “Why We Quit” that “Two-year public colleges have a worse record, graduating fewer than 30 percent of their students” (5). The question is: What is causing this and what may be the remedies.? College of San Mateo (CSM) has become an active participant in addressing lack of student study skills and student socio-economic background as the most important reasons for student dropout in community colleges. “Community Colleges have become dumping ground for all the educational problems in the rest of the system” Allen (14). The majority of students arrive at colleges unprepared for college work. Additionally, a great majority of us have been placed in remedial classes to which we neither relate, nor belong since a great majority us are not proficient in 8th-10th grades of either subjects. Most of the substandard students who have passed through the K-12 system lack the skills, or the focus, or the knowledge to deal with college. A vast majority of students in community colleges, some 70% of them, fail to graduate. At CSM Freshman retention rate, due to lack of basic study skills, is taken very seriously...
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...when you hear the word college? Is it “beer pong”? Maybe just “beer”? What about the word “debt”? The average college student graduating in 2015 from a 4-year college or university has about $28,400 of student debt monkeying on their back. Although the amount of student debt has increased 2% since 2012 (Vaught, Jabbaar-Gyambrah.), more and more students are being pressured into attending a higher level of education institution. Attending a private, college prep Catholic High School, I was taught “you either get a degree or you don’t succeed.” My parents instilled those values in me as well, however neither of them attended college or a 4 year university, yet are still able to pay for my out-of-state...
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