Tuesday, February 22, 2011

College Tuition

In an article written in the New York Times, the ever rising cost of college is discussed. Over the past couple of weeks, universities such as Brown and Princeton have announced that they will raise their tuitions once again. In todays society, attending college is a necessity if you expect to make a decent living. If tuition prices go up, it will make it even harder for people to attend college. The national average salary is around $40,000. It is literally impossible for someone to attend college if their parents make that kind of money and not be accumulating debt. No matter how smart you are, it simply will not work. But, many scholarships, aids, and loans are out there to help students pay for college. This is creating a nation of students who owe significant amounts of money by the time they graduate. This creates a major problem because newly graduated adults are looking for jobs and owe $100,000 to the school they attended. It simply doesn't work. I don't know what to do but something must be done.

5 comments:

  1. Some financial analysts say that college loan debt is “good debt”. Do you agree or disagree? Justify.

    Also with the rising tuition costs, do you think the demand for a college education is decreasing? How do you think this rising cost is affecting the unemployment rate?

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  2. College debt is no way a "good debt." No debt is good. I don't want to work 4 hard years in college to get a degree to just go off and pay college debts. I want to start my career and begin my life with keeping the money I have earned. Tuition costs are rising because the demand for college education is increasing. Most jobs today cannot hire an applicant without a degree. I have even heard that employers don't even bother looking at an applicant without a degree.

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  3. There are thousands of students and parents of students who come out of college with numerous loans that take years to pay off. I'd say that the debt is a "good debt" because like Payne said in today's world college is a necessity. If you need something but cannot afford it you take out a loan and when you take out a loan you therefore owe a debt to someone. Since college can now be called a necessity the loans that are acquired to attend college are "good debt." "Good debt" can be defined as debt that creates good value. Would you consider a college education a good value to have? If you answered yes then the debt college can place on people is categorized as "good debt".

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  4. I agree with Zach. College is definitely worth the debt that students might get into, as long as they don't accumulate too much debt. This wouldn't be nearly as much of a problem if college graduates could come right out of colege and get a job, and start paying off the debt. A big problem is that a lot of graduates come out of college and can't get a job, so their debt is just sitting there, and the they have to hustle to find a low paying job just to start slowly decreasing the debt. College debt is good, if you're able to get a job abruptly after graduating.

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  5. If you have no other choice than a student loan is better than not going to college. The college education will give you the opportunity to earn a better salary after you graduate. So if you make $40,000 a year, but owe student loans, you are still better off than making $20,000 a year with no student loans. This especially makes a difference over a 40 year span of working.

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