College tuition is simply too much.
The inflation of the college price tag over the past 30 years is out of control. According to Time magazine writer Steven Goodman, if the cost of milk grew at the same rate as the tuition of Stanford University since 1980, we would be paying $15 for a gallon of milk. Many high ranking universities’ tuition have gone from of $4,000-$6,000 in 1980 to $40,000 and up in the 2010-2011 school year.
My top choice, New York University, is $62,000 a year. And guess what? I, with little to no help from my parents, am paying for my college education with the aid of loans, grants and scholarships. As many seniors prepare for post-graduation plans, the college price tag is a daunting thought. The obvious truth is that most parents and kids can’t afford the hefty price, which is why President Obama recently proposed legislation to cap student loan repayment based on income. Although this is a step in the right direction, it’s just not enough.
How can anyone believe it is reasonable for a middle-class American to pay more than $20,000 a year for higher education? Due to questions such as this, discussions have been popping up all over the United States about whether or not college is a worthy investment for success. Does college guarantee success? We, as high school students, look up to successful business people, like Steve Jobs and Mark Zuckerberg, who never made it through college; and yet their inventions have benefitted the world to no fathomable measure.
A company in California took this idea to hire the most brilliant minds out of high school and veer these young geniuses from the socially-acceptable path of college straight into the work force. Every year, 10 incredibly smart individuals are chosen to work for this company for a nice salary. College won’t be the measure of the success of these students.
So what needs to happen in order for everyone to once again afford college? Government regulation.
In the rest of the world, the government regulates higher education establishments so college can be affordable to its citizens. Finland, Norway and Sweden don’t even charge students for higher education. The country with the second highest education costs (after the U.S.) is the United Kingdom, which seeks around £7,000 per year (around $11,000 in American dollars) for tuition.
Two-thirds of American undergraduates are in debt. The projected total cost of a student attending a four-year private university will be $380,000 by 2028 according to savingforcollege.com. And yet, according to Time, “The 20 wealthiest universities alone are sitting on endowment funds worth $200 billion. Three-hundred sixty-seven colleges and universities control tax-exempt endowments worth over $100 million.”
If Congress doesn’t take action now against the run-away tuition, college will most likely soon fade out of the American Dream. We need to strike a balance that respects collegiate institutions’ academic freedoms and avoids bankrupting the next generation’s students and families.
