The college tuition rate nowadays can be considered a major problem in our society right now. There are several students around the world who have to take out loans for their college education. If students have to take out loans, then after college, they start with a surplus of debt that is hard to overcome. Since 1974, college tuition for private universities has tripled, now costing around $31,000 per year. While public universities, has risen four times since 1974. For the average household in the United States, higher education is simply too much for the family. Approximately, 40 percent of students turn down their first-choice college because of financial reasons. For private schools, a four-year tuition in 2015 was $134,600. In 18 years, that could increase to $323,900. Student loan debt in the United States has reached $1.2 trillion dollars. Federal student aid accounts for most of the college tuition increases from 1987 to 2010. The problem is the more money students can borrow, the more colleges are able to charge. Colleges have increased tuition even more because they know financial aid can cover the difference. I think it is ridiculous how expensive colleges have become, and it isn’t just the tuition. Students have to cover the cost of books, room and board, spending money, technology fees, library fees, meal plans, etc…It has become overwhelming! I know so many of my friends who had to take a year or two off from college because they needed to work in order to pay for their tuition. I also know people who had to choose a 2 year college over a 4 year college because their parents couldn’t afford it, nor could they get the loans they would need to pay for the 4 year degree. I think that is sad because there are a lot of good, hard working families that have children who deserve to get their college education where they want. But with the expensive rates of college going up every year, it’s hard for some families to make that happen for their child.
I think college tuition needs to be lowered, so students can get the education that they deserve. If college tuition continues to rise, most high school graduates will not go to college because of the high expenses. I think spending over $120,000 for a college degree is outrageous, but seems to be the average amount nowadays. There has to be a better way.