High Cost Of A College Education

Over the past fifty years, the costs of college tuition have been increasing at an expeditious pace. The first universities to ever be established were around 1100-1200 in medieval Europe, which was free of charge. According to BestCollege, Thomas Jefferson proposed an education system supported through taxes. He believed that for to have an upstanding government and citizens, the population had to be educated. In the early 1800s, many colleges did not charge tuition or had very low rates, however; only the wealthy can afford the living expenses incurred during their study. In 1965, the federal government passed the Higher Education Act to initially help provide financial assistance for those who couldn’t afford to attend college. Regardless …show more content…
According to Kokemuller Statistics, “the higher the level of education people attain, the more insulated they are from the risks of unemployment and the higher their potential income level (Kokemuller).” Although most billionaires attained their high-income without a college education, you can make a billion dollars in education. There are many people in the world that have a well-paid job without an education, for example, YouTubers. Although Youtubers make a decent amount of money, soon after it will die down to where they’re broke. Therefore, having a college education is very crucial whether you’re poor or wealthy. According to EducationDive, there are 7 billionaires who made their fortune through education. Education is a crucial factor to our country, without education; there would be fewer doctors, lawyers, engineers, …show more content…
Prior to the 1970s college tuition rates have increased 2-3% a year, however; in the mid-seventies, the cost soared to a 5-6% increase. College education affects many people, whether they’re low-income or high-income students. Therefore, increasing college tuition isn’t the best option there is because the population will decrease due to less well-paid careers. Students each year spends at least $10,000 on college tuition that may not even benefit them due to the stress and anxiety from both school and their jobs. An alternative solution to this problem can be setting a system that program student loans with no interest. For example, in Australia, they have a system called “High Education Loan Program (HELP), that’s helps the unprivileged families by giving loans without interest. According to TradeSchools, many loans will never fully repay (averaging to about 17%), but the system has been designed to allow for