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Tyhanna LaRock

Mclaughlin

English 12

20 March 2019

We are broke and afraid

Throughout the years higher education has declined from affordable to less affordable.

Lately higher education has become less affordable to everyone but higher income earners.

Each year tuition rises faster than the rate of inflation, from 1985-2005 tuition at private schools

grew three percentage points faster, and in public schools grew four percentage points faster

(Oachs 26). Most college-ready students do not go to college due to price and the availability of

loans, student loan debt has currently surpassed a trillion dollars. It is time to stand up against

the inflated costs of higher education and lower the tuition prices. College education must

become more affordable to increase access and ultimately improve the economy and

Americans’ quality life.

Since 1980, tuition has tripled and student aid has tripled between 1990 and 2015. Over

the same time period net tuition increased thirty percent from $11,500 to $14,890 in just private

schools, in public schools the net price almost doubled from $1,890 to $3,980 (Oachs 10). The

United States if the second highest ranking in student debt, first being the United Kingdom, and

third being Japan. (Oachs 56). In 1978 federal subsidies became available to many more

students, in 1980 the tuition price began to raise (Oachs 49). Tuition has rapidly increased

suiting only families of higher class who earn more than $200,000 yearly. In 1974, families

earned around $62,000 yearly, and then in 2015 families earned $64,000 yearly (Oachs 14).
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Therefore, the median income has not increased although tuition has risen three times faster

than inflation (Oachs 8). The cost of textbooks and room and board have also increased over the

last two decades making it harder for families of lower class (Oachs 10). In 1975, students could

pay for a years worth of tuition simply by working 6 hours in a week of a minimum wage

paying job (Oachs 8). Now, an average student would have to put in 32 hours weekly to pay for

just tuition and fees (Oachs 8). Economist Richard Vedder estimated in 2006 a dollar in federal

aid equals thirty-five cent increase and in a study in 2015 found tuition could increase by sixty-

five cent (Oachs 49).

College debt is becoming outrages and only continues to grow. In 2010 Americans owed

more on student loans than credit card debt. Studentloan debt surpassed 1.3 trillion, and more than

forty million borrowers held large amounts of debt in 2015 (Oachs 54). Also in 2015, seventy-one

percent of college grads carried debt up from forty-five percent in early 1990s. Students take

about $100 billion worth of federal and private loan lenders yearly (Oachs 60). The more

students, the more debt.

Tuition for higher education leads to many families to struggle financially. For

example a “college graduate drop out works 3 jobs to pay her $70,000 in student loans, after

dropping out.” the college dropout added added how she did not want to go back and owe more

money. “For me to finish it would mean borrowing more money. It makes me puke to think about

borrowing more money” she included fearing for her future and being able to pay off her debt

(Oachs 58). Most currently enrolled college students face hunger and homelessness. One in three

are food-and-housing insecure and one in ten are homeless (Student Debt). In areas with higher

costing college student debt is usually higher. Fun fact according to American Association of

university women, women hold about two- thirds of all student debt in the US (Student Debt). In
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2015 five percent of college graduates were unemployed, and forty-five percent of them are

underemployed. Additionally seven million people (17%) were on a default program for their

loans for college dropouts, default rates are four times higher than graduates, sixty-eight percent

of them did not complete a degree (Oachs 62). These statistics show the grim realities Americans

face due to higher education costs.

If student tuition was lowered that would require for government to put in more money to

schools, resulting in higher taxes. Most taxpayers would not like this, though, and may try to

petition against it. Additionally if the government lowers college tuition the schools may want

more funding than the amount the government would be able to provide the schools. Regardless if

the country had little to no tuition funds for higher education student loans would likely still be in

place to help overworked students by provide some financial support for necessities. For example,

“Sweden gets a lot of attention because tuition there is free. Still, Swedish students borrow money

for college just as frequently as Americans do—and about 70% of students in both countries have

student loans. But Swedish students graduate with about $20,000 in debt, compared to about

$30,000 for American graduates” (Compton.). Look at other countries for examples to help

combat student debt like this quote presents, “In Germany, parents are required to financially

support their children even while they pursue post-secondary education. Therefore, German

students are a lot less likely than U.S. students to take out loans. As of June 2016, just 18% of

German students were dealing with student loan debt.” (Compton).

It is obvious that college tuition is too high. Tuition has increased greatly over the last

decades, even faster than inflation. Changes should be made to better a person's chance to attend

college so that the American economy can thrive. College students suffer everyday with debt, the

price of tuition, room and board, and prices for essential things like books, feeding themselves
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and so on. All Americans should be able to obtain a degree and better their circumstances. It is

time for institutions of higher educations to become more affordable for students from all walks

of life.

Work Cited
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Akers, Beth. "How much is too much? Evidence on financial well-being and student loan

debt." AEI Paper & Studies, American Enterprise Institute, 2014. Academic OneFile,

https://link.galegroup.com/apps/doc/A372251600/AONE?u=pl2127&sid=AONE&xid=

d8fd41bb. Accessed 25 Feb. 2019

Oachs, Emily. The Rising Cost of Education. Abdo Publishing, 2017

"Student Debt Looms Large in the News." PT in Motion, July 2018, p. 53. Academic

OneFile, https://link.galegroup.com/apps/doc/A548322495/AONE?u=pl2127&sid=AON

E&xid=73f3aca4. Accessed 25 Feb. 2019.

"The Top Fifteen States for College Graduates with Student-Loan Debt." Tribune Content

Agency Graphics, 2018. Opposing Viewpoints in Context,

http://link.galegroup.com/apps/doc/YUCMDI912522817/OVIC?u=pl2127

&sid=OVIC&xid=9b01a894

Viewpoints Online Collection, Gale, 2019. Opposing Viewpoints in Context,

http://link.galegroup.com/apps/doc/SNSEEA910236457/OVIC?u=pl2127&sid=OVIC&

xid=e2a 93293. Accessed 25 Feb. 2019. Originally published as "The Escalating Costs of

Higher Edumacation," American Thinker, 16 Oct. 2017.

Compton, Jason. “How The World’s Top 5 Nations in Education Handle Student Loan

Debt” 17 February 2017 https://www.sofi.com/blog/how-top-countries-university

-education -hand le-student-loan-debt-repayment/ . Accesseed 21 March 2019