Are Universities and Colleges Really Monopolistic? The idea circling around most eighteen year old young adults is the hypothetical question “How am I going to afford to put myself through college?” Looking back now, I can say that I definitely felt that way at that age and it definitely made me curious on several issues. It isn’t a hidden secret that college is expensive. Most of us by the age of eighteen understand that we are going to compile a large sum of debt while putting ourselves through what may seem like an impossible task of getting a degree. So is the idea of putting yourself in debt worth the hard work and dedication required to become a professional in your field of study? The cost of tuition is only on the increase for new
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A somewhat famous quote that circulated the social networks was one by Adam Kotsko. Kotsko say’s “We ask 18-year-olds to make huge decisions about their career and financial future, when a month ago they had to ask to go to the bathroom.” (Kotsko 1). This quote is an exceptional idea of how our education systems in America can be considered flawed. Most students come directly out of high school without learning the basic concepts of money. I personally was one of these students. Coming out of high school I had just a general idea of what a loan was, how loans work, and how to become eligible for a loan. This to me is extremely ironic since it has been pounded into our brains that we need to go to college if we want to make something of our lives and the most common funding for college comes from loans. Coming out of high school, most students have not established a credit score nor have they diminished one neither. So we are asking these students to apply to these universities that are clearly not affordable without some type of aid. From college fairs and guidance counselors these students are taught that federal student loans have lower interest rates than private loans. The satirical thing is these loans are mandated by the US government. Nearly every student is accepted when they apply for their loans and they are …show more content…
This is a substantial fact when relating to earlier in the paper that suggest the average bachelor student graduates with on average 35,200 dollars in debt in 2013. From the data, in a simplistic world this basically means that it would only take the average bachelor’s graduate student roughly two years to pay off their debt when relating it to their 17,500 dollar pay raise from achieving their bachelor’s degree. This is an astounding statistic also because it supports the idea of what we have been taught out whole life, which suggests going to school increases your rate of success in life. If you can pay off your debt in essentially two years to “break even” from going to school, essentially the rest of your earnings would be a reward for going to college. Another unique finding from Caumont’s data suggests that Millennials who attend college have an unemployment rate of only 3.8% in 2013 (1). This also supports the idea that college is beneficial for successful carriers, if you graduate with a bachelor’s degree then you are 96.2% more likely to be
A somewhat famous quote that circulated the social networks was one by Adam Kotsko. Kotsko say’s “We ask 18-year-olds to make huge decisions about their career and financial future, when a month ago they had to ask to go to the bathroom.” (Kotsko 1). This quote is an exceptional idea of how our education systems in America can be considered flawed. Most students come directly out of high school without learning the basic concepts of money. I personally was one of these students. Coming out of high school I had just a general idea of what a loan was, how loans work, and how to become eligible for a loan. This to me is extremely ironic since it has been pounded into our brains that we need to go to college if we want to make something of our lives and the most common funding for college comes from loans. Coming out of high school, most students have not established a credit score nor have they diminished one neither. So we are asking these students to apply to these universities that are clearly not affordable without some type of aid. From college fairs and guidance counselors these students are taught that federal student loans have lower interest rates than private loans. The satirical thing is these loans are mandated by the US government. Nearly every student is accepted when they apply for their loans and they are …show more content…
This is a substantial fact when relating to earlier in the paper that suggest the average bachelor student graduates with on average 35,200 dollars in debt in 2013. From the data, in a simplistic world this basically means that it would only take the average bachelor’s graduate student roughly two years to pay off their debt when relating it to their 17,500 dollar pay raise from achieving their bachelor’s degree. This is an astounding statistic also because it supports the idea of what we have been taught out whole life, which suggests going to school increases your rate of success in life. If you can pay off your debt in essentially two years to “break even” from going to school, essentially the rest of your earnings would be a reward for going to college. Another unique finding from Caumont’s data suggests that Millennials who attend college have an unemployment rate of only 3.8% in 2013 (1). This also supports the idea that college is beneficial for successful carriers, if you graduate with a bachelor’s degree then you are 96.2% more likely to be