When people talk about college, there is one topic no one can get around; the price. (Leonhardt). The price of college has overwhelmingly increased as time has progressed. College has been unnecessarily expensive for people who are going into college. Student loans interest rates have had a prominent effect on college disbursement. The price of college isn’t worth it because of the increase of tuition, the useless amenities, and the unreasonable college debt.
College tuition has increased over time and the entry-level wages have been higher since the 1990’s since the value of money changes every few years.(Shierholz). Tuition for a public 4 year college has risen from $3,190 (1987-1988) to $9,970 (2017-2018) (Martin). Inflation can be a large factor in the spike in price. When converted to today’s …show more content…
40 million federal and private students owed a total of $1.2 trillion (Mooney, 48). That’s around $30,000 dollars per student. Being late on a payment can add thousands of dollars to your loan debt (Mooney, 49). You are given about a 6 month grace period, but finding a job straight out of college isn’t an easy task. Sometimes, it can take about 6-18 months before you actually get hired; that is, if you plan to get a job on the first day of college. Right after college, a select few get jobs related to their major. Any failure to make a payment can destroy your chances to pay for essentials such as a house or a car (Mooney, 55). Most people who suffer from debt often have to cut back on costs. For example, moving back in with parents to save money on rent. Other times, people take the cheaper route, which involves riding bikes to work, couponing, and the list goes on. All to save money and hope to pay off their student loans. College can result in major debts, making it harder and harder to pay off as time goes
College tuition has increased over time and the entry-level wages have been higher since the 1990’s since the value of money changes every few years.(Shierholz). Tuition for a public 4 year college has risen from $3,190 (1987-1988) to $9,970 (2017-2018) (Martin). Inflation can be a large factor in the spike in price. When converted to today’s …show more content…
40 million federal and private students owed a total of $1.2 trillion (Mooney, 48). That’s around $30,000 dollars per student. Being late on a payment can add thousands of dollars to your loan debt (Mooney, 49). You are given about a 6 month grace period, but finding a job straight out of college isn’t an easy task. Sometimes, it can take about 6-18 months before you actually get hired; that is, if you plan to get a job on the first day of college. Right after college, a select few get jobs related to their major. Any failure to make a payment can destroy your chances to pay for essentials such as a house or a car (Mooney, 55). Most people who suffer from debt often have to cut back on costs. For example, moving back in with parents to save money on rent. Other times, people take the cheaper route, which involves riding bikes to work, couponing, and the list goes on. All to save money and hope to pay off their student loans. College can result in major debts, making it harder and harder to pay off as time goes