Rising Cost of Education

Rising Cost of Education: The Impact on Parents and Students

Rising Cost of Education: The Impact on Parents and Students

Kimberly Pacheco

Research Writing: ENC 4313

Keiser University: Ft. Lauderdale

Abstract

Parents and students in America are facing the harsh reality that education may soon be available only to those who can afford it – wealthy people that is – not the middle class or poor. Tuition costs are currently rising at a rate of about 7% every year. That’s over triple the rate of inflation – which is currently about 2%. With tuition costs rising at this rate, and the interest rates rising on private student loans, it is no wonder many high school students – who once aspired to go to college – are now fearful of the debt they will incur with higher learning. In addition, most careers don’t offer salaries to compensate for the cost of college. Therefore, many students have chosen not to go to college. There are many models of higher education outside of the Unites States that America can look at and follow, such as Europe’s free higher education model. Some colleges even pay students to attend college. There are many other countries America can emulate, or simply take a second look at to learn how they handle the rising cost of education. One such example is the Philippines, where they only allow tuition raises depending on the institution’s financial need to raise costs. The best outcome would be to make higher education affordable for the future leaders of America.

Rising Cost of Education: The Impact on Parents and Students

It is unclear what the exact reason is for the continued increase in tuition rates, or why tuition rates are rising faster and higher than inflation rates. In order to determine the cause of increasing tuition rates, it is important to examine a number of factors that are tied into the tuition rate increases. It is equally important to examine possible solutions to this problem, rather than sitting...