“Knowledge is power. Information is liberating. Education is the premise of progress, in every society, in every family.” (Quote by Kofi Annan). Human beings have the intellect and zeal to learn as a channel for gaining skills and knowledge to navigate life. However, the lack of adequate tuition fees has been a major setback to students, parents, and families following the cost people have to incur in exchange for education. Most developed countries, including the United States, have been ranked among the countries to possess costly education systems. In England, an individual pays approximately $12,330 annually for regular studies at a public institution (Statista website, 2021). Following the high growth rates for developed countries, education fees tend to be higher, thus disadvantaging the vulnerable groups that can hardly raise the already peaked charges for schooling. As a result, more young people end up on the streets with no education or knowledge to tackle life’s challenges. Others have no income, and poverty has encroached. The few who manage to maneuver to succeed in school education end up with more student loans and debt (Deller and Parr 266). According to NCES 2013, 11% of students drop out because of financial constraints. Therefore, it has come to my thought that the affordability of tuition fees for students would aid in embracing unfortunate societies by providing them with equal access to education. The main point I would love to make about making college affordable is that it will be beneficial because it will lead to higher graduation rates, fewer student loan debts, and higher income.
Higher education.
By making tuition fees affordable to college students, many will advocate for attaining higher education. As seen before, the high cost of studying has made thousands of students in the United States drop out with minimal education. The high tuition fees have been a significant mountain that the less fortunate (poor) could barely cross over. Students of color, categorized as low-income groups, are faced with the full wrath of this issue as even public institutions have become costly. The NCES community revealed that since the 1970s, the annual cost for an individual partaking in a four-years course has inflated by a solid 148%. Higher education means people are allowed to search for more knowledge within school premises. However, the expenses incurred by an individual wishing to pass through college are frightening and high for many, forcing them to make really rough decisions. Some include leaving school and never getting back to books.
With my motion to lower tuition fees, many people will be granted an opportunity to further their studies without limitations. Public institutions have a mandate that the government could issue to make learning accessible for all or lower the fees by a reasonable margin. Education is power, and if given to the people, a brighter future is promised. More education means more intellect and skills within society. With affordable education, people will invest in it as knowledge is a weapon (Wright and Horta, 2018). Families will have learned that individuals who play significant roles make them wealthy. the Affordability of tuition fees will be an opening route to success for many and marginalized societies meaning more graduating persons will be recorded. The government and other stakeholders need to revisit the education systems and formulate policies to help communities globally with cheaper and more accessible education for all. Higher graduation rates point out more knowledgeable people in society.
Less student debt.
To help student-though not efficient- loans have been provided, which students are expected to pay back during their employment. Student loans assist the less-abled ones in paying their fees and thus will not have the thought of dropping out due to inadequate funds. Yes, students acquire their knowledge as per their course timeframe. Paying back the loan money is what turns their lives upside down after graduation (Page and Scott-Clayton, 2022). Ideally, employment is expected to follow right after graduation, but the situation has changed. For instance, ever since the pandemic emerged, job opportunities have narrowed, and people have been forced to look into other means of income. This is because the loan money is a debt the government expects one to start payments as soon as possible. Therefore, for people with high debts, more time and income will require them to settle the entire bunch (Perry and Spencer 2017). Yes, one could be employed, but very little is left for them in terms of saving as a cut is always done on their wages, not forgetting daily bills. The less the student loan, the less burden one will have to carry after school.
According to The Economist (2020), the total student loan was approximately $1.5 trn. This accumulated the entire loan money granted to students in America to cater for their studies. Averagely, each of the forty-five million Americans owed $35,000 for education. From these statistics, it is evident that students have embraced loans from the government following their wish and dream to attain higher education which is costly (Deller and Parr 270). However, the aftermath issue of repaying the debts has crippled many on American streets (Page and Scott-Clayton, 2022). Many still need stable jobs or instead earn just enough, which is insufficient to cover all their bills, including paying their student loans (Cornelius & Frank, 2015). From my intuition, making tuition fees, affordable means students will only use minimal or no debt to pay for their studies.
Higher income.
“An investment in knowledge pays the best interest.” (according to Benjamin Franklin). As stated before, education is a form of investment that one bestows upon themselves as a channel to unlock many doors in the future. One thing parents believe in after school is that their children will be successful in the future. This means that to unlock this door; students have to afford the tuition fees to allow them to attain higher education. In employment policies, qualifications are significant components of one’s details that most employers look for before granting them a job. When highly educated and skilled personnel are employed by companies providing services to the people, significant economic growth is registered. This is because, with the higher education earned in college and universities, individuals are trained to be experts in their specific reigns. They can pay taxes without constraints, which is used as revenue for expanding governmental projects essential to the citizens.
People with high education status land well-paying jobs that improve their income greatly. The wealth they acquire powers their economy, for instance, the healthcare and education systems (Wright and Horta, 2018). All this can be achieved if students are given a chance to learn with very minimal limitations, such as finances. Economic growth opens opportunities for many amenities to develop in societies. Accessibility of higher education s and depicts more learned personnel who represent a sufficient and efficient workforce to the country. Tax payments and revenue collection are heightened, providing better routes for the nation to turn wealthier. Public amenities such as health, food, education, and employment are improved; thus, the level of poverty is faded in the nation.
Why is college expensive?
Over the years, cries have been outspoken to help in the reduction of college tuition fees. This has been the greatest limitation students have to deal with in their education journey. A lot has changed in a span of forty years where; college fees were almost a third of what is paid now. Education is covered by both private and public institutions whose wages for studies have continued to rise over the years. However, following the diversified advancements seen in developed countries, schools and colleges have striven to develop institutions conforming to the current improvements. Since the funds are used to develop structures such as gyms and games courts, students are charged high to cover the expenses. Also, due to the competition status of schools as it has become business-connected, students are expected to pay higher for education. Employing teachers, professors, deans, CEOs, and non-teaching staff in colleges has created more vacancies. This means more funds were needed to pay the personnel, which was directly instilled in students’ fees. To answer the question of why college has turned expensive, it would be fitting to say it is due to the excessive and meticulous growth and development of improved institutions.
To aid in the movement, President Biden has shown an outline to aid students in attaining higher education with minimal debts. For instance, he speculated the fixing of the Public Service Loan Forgiveness imitative to aid borrowers in receiving credit. He also highlighted that the three-part project aimed to provide Americans with ambient room to breathe due to loans. Debt relief to those with student loans either as members or non-members of the Pell Grant. A new plan for the repayment of the borrowed funds was discussed. It speculated that undergraduate loans be paid monthly with more cutting into multiple deadlines.
Conclusion
Education is a tool necessary to navigate through this earth. Colleges have become so expensive for students, especially the marginalized groups with inadequate income to cater for education. To combat the devastating effects of high tuition fees, such as increased poverty levels, high student debt, poor economic growth, and low graduation rates in society, I proposed ways of making college fees affordable. The government and other parties need to make education free, or fees are within affordable ranges to accommodate many individuals. As a result, people can comfortably acquire higher education without worrying about high student loans. Simultaneously, more knowledge increases the chances of earning better skills that reciprocate as good income, thus enhancing economic growth. Conclusively, I trust President Biden’s vision of helping college students gain more education without incurring very hyped tuition fees.
Work Cited
Page, Lindsay, and Judith Scott-Clayton. “College Costs, Financial Aid, and Student Decisions.” 2022, doi:10.3386/w30275.
Deller, Steven, and Jackson Parr. “Does Student Loan Debt Hinder Community Well-Being?.” International journal of community well-being vol. 4,2 2021: 263–285. doi:10.1007/s42413-020-00107-1
Perry, April, and Cassandra Spencer. “College did not prepare me for this: the realities of the student debt crisis and its effect on college graduates.” The William & Mary Educational Review 6.1 2018: 1.
Wright, Ewan, and Hugo Horta. “Higher education participation in “high-income” universal higher education systems: “survivalism” in the risk society.” Asian Education and Development Studies (2018).
Cornelius, L. M., & Frank, S. A. (2015). Perspectives on student loan debt levels: student loan debt levels and their implications for borrowers, society, and the economy. Educational Considerations, 42(2). 10.4148/0146-9282.1052.
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