By: Jeremy Crenshaw
College education in America is a luxury. Many cannot afford to come out of pocket for big ticket tuitions. Instead many students are forced to take out loans to pay for their education. The Huffington Post reported that Americans collectively owe $1.3 trillion in student loan debt. The class of 2014 had an average of $28,950 in debt. The average student debt is growing every year, resulting from increasing tuition rates. When students graduate from college to pursue a career, those with debt are essentially stuck with what is equivalent to a car note.
The million dollar question here is why do we have to pay for college in the first place? The average yearly tuition for public 4-year institutions has increased $13,152 from 1964 to 2007. The U.S government supports students through financial aid which is determined by a family’s economic status and the government budget. Student loan debt can be reduced by putting more of the country’s budget toward education.
Although the price for education has skyrocketed over the past 43 years, it should not be entirely free. These universities still have to cover some; if not all of their variable costs including: teacher salaries and building maintenance. Nevertheless the price for college should not be as high as it is.