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Essay / Market and Government Failures in Reducing the Cost of College
There was a time in America when college was based solely on merit, higher education, and the pursuit of the American dream to obtain a career and acquire social status to succeed in society. Rising tuition costs and increasing student debt, coupled with declining financial and educational returns, are at least undermining the perception that college is a good investment, according to The Economist. Today, due to the high cost of a good average college, students are leaving college with over $100,000 in debt and not getting their original dream job. Colleges have failed to stabilize tuition fees and have increased them almost three times since the 1980s in reference to The Economist newspaper. In our country, only 57% of Americans will be able to successfully complete a four-year college degree in six years because tuition costs remain high. Another failure that allowed colleges to raise tuition was due to deep state cuts that left colleges to support themselves. The state considered other concerns as priorities to invest in, according to the New York Times article, Obama Vows Action on College. When the state or federal government no longer makes progress in supporting colleges and universities, what does the future hold for our country? President Obama said the government would not continue to pour money into an "unruly system." Field K. (August 21, 2013) Obama promises action on college costs, but observers say his options are few. P.1, Washington Post. Additionally, the president emphasized that he would suspend some federal aid to colleges that fail to keep tuition growth low, and proposed grants to states and colleges that adopt cost-saving measures . The New York Times says the federal government... middle of paper ......t will build our future career seekers of the future. Heuve, VK (May 1, 2012) Free college? We can afford it, The Washington Post. Works Cited Clingman, J. (May 5, 2014). It's time to free students from $1 trillion in debt. UniversityWire Retrieved from http://search.proquest.com/docview/1520794349?accountid=27899Field K. (August 21, 2013) Obama promises action on college costs, but observers say his options are few. P.1, The Washington PostGarrahan and John. (May 2, 2014). Canceling student loans will not solve the crisis. Daily Journal Retrieved from http://search.proquest.com/docview/1520399845?accountid=27899Heuve, VK (May 1, 2012) Free College? We can afford it, The Washington PostMentzer and Robert. (May 2, 2014). Look for ways to reduce the burden of student debt. Wausau Daily Herald Retrieved from http://search.proquest.com/docview/1520412288?accountid=27899