By Christopher Chang
In the last decade, student loans have been rising through the roof. The cost of college tuition has led to more than a trillion dollars in student debt. This massive hole is impacting our economy and really holding us back. Earlier this month, President Obama announced that the U.S. Department of Education will expand eligibility for income based repayment for student loans. With this plan in mind, it could collapse the student loan market and create a vast different in the price of tuition.
Although most students are in financial debt, many aren’t. Schools with a diverse population such as Boston University give academic and racial scholarships. Two out of three students interviewed had at least half of their tuition payed for. However, this still leaves a gap of thousands of dollars for students to fill in. There are many financial aid programs that help in making college easier to pay for. One of these programs is based on maintaining your GPA at a certain average. Many students interviewed found this method unfair, especially when taking more rigorous classes. Upcoming Sophomore Raul Barron stated about the method, “I find it hard to keep my grades up to maintain my scholarship while also working at a part time job.”
What is the explanation for this high rising cost of tuition? Many factors attribute to this effect. With more and more students applying to colleges, they must build and maintain facilities for the students to live and study in. Some dormitories are nicer than hotels, and classrooms can be bigger than an IMAX theatre. With such a diversified group of students, the dining hall must produce a wide variety of food to please certain cultures. Professors are another factor. Much of the faculty that work at universities are top-notch and won’t teach unless they receive a well-paying salary.
Is the cost of the college really worth the education received? Many people say it isn’t worth it, unless they offer a high job acceptance rate. Northeastern University has a 96% job acceptance rate within six months after undergraduate school. One student interviewed stated, “If I could go back in time, I would go to a less expensive college and try to keep up my grades. Then after college, I would get a full time job to pay for graduate school at an upscale university.” However, tuition isn’t the end of the story. By studying right and maintaining good grades, scholarships will be knocking down your door.
In the last decade, student loans have been rising through the roof. The cost of college tuition has led to more than a trillion dollars in student debt. This massive hole is impacting our economy and really holding us back. Earlier this month, President Obama announced that the U.S. Department of Education will expand eligibility for income based repayment for student loans. With this plan in mind, it could collapse the student loan market and create a vast different in the price of tuition.
Although most students are in financial debt, many aren’t. Schools with a diverse population such as Boston University give academic and racial scholarships. Two out of three students interviewed had at least half of their tuition payed for. However, this still leaves a gap of thousands of dollars for students to fill in. There are many financial aid programs that help in making college easier to pay for. One of these programs is based on maintaining your GPA at a certain average. Many students interviewed found this method unfair, especially when taking more rigorous classes. Upcoming Sophomore Raul Barron stated about the method, “I find it hard to keep my grades up to maintain my scholarship while also working at a part time job.”
What is the explanation for this high rising cost of tuition? Many factors attribute to this effect. With more and more students applying to colleges, they must build and maintain facilities for the students to live and study in. Some dormitories are nicer than hotels, and classrooms can be bigger than an IMAX theatre. With such a diversified group of students, the dining hall must produce a wide variety of food to please certain cultures. Professors are another factor. Much of the faculty that work at universities are top-notch and won’t teach unless they receive a well-paying salary.
Is the cost of the college really worth the education received? Many people say it isn’t worth it, unless they offer a high job acceptance rate. Northeastern University has a 96% job acceptance rate within six months after undergraduate school. One student interviewed stated, “If I could go back in time, I would go to a less expensive college and try to keep up my grades. Then after college, I would get a full time job to pay for graduate school at an upscale university.” However, tuition isn’t the end of the story. By studying right and maintaining good grades, scholarships will be knocking down your door.