The Cost and

Future of Higher

Education

Higher Costs Over the years, the cost of higher education has been

increasing and is a luxury many can no longer afford.

Budget cuts and limited financial aid puts college

costs more on families instead of state.

The amount that government contributed to the cost

of education decreased by about $100, but the amount students contributed increased by about

$1,50 0 (adjusted for inflation).

Tuitions and fees increase but incomes do not.

What does this mean for the future college students

and graduates?

History

Higher education was once reserved for men of the

clergy. It is now an essential career source.

It once consisted of just a traditional liberal arts

curriculum.

As it opened to the public, so did the door to the

sciences and vocational training. This created a

large educational workforce

Since the opening of Harvard, college attendance

has steadily increased.

History As attendance increased, new

universities were established.

Affordability was still a

problem. College was usually

reserved for white male.

The G.I. Bill paid for the college

education and expenses of 8

million returning GIs. This

included tuition, books, and

even gave GIs a sum for food

and housing.

Middle-class and lower-class

were now represented in

college population. Without

worry of cost, number of

students nearly doubled.

Current State

As of today, it is estimated that the cost of higher

education has increased by 1,120% over 35 years.

The average tuition at a 4-year public institution has

increased 15% between 2008 and 2010.

Current State As tuitions rise, so does the national student loan debt. It

has recently hit $1 trillion.

College attendance is currently being funded by the debt of the middle class. Taking out loans and attending college is more difficult for the lower-class

“Measuring up 2008” compared college costs against average family income

Net cost of a four-year public university accounted for 28% of the average family income. A four-year private university accounted for 76% of the average family income.

For those with income within the lowest 20%, the cost of a public university was 55% of the average income

Community college accounted for 49% of the poorest families’ income

Future According to the biennial report from the National

Center for Public Policy and Higher Education,

college tuition and fees has increased 439%.

Average Family income has only increased 147%.

Student loans have more than doubled in the last

ten years, to a record $20,835.

According to a report by the National Association

of State Universities and Land-Grant Colleges, if we

were to project to 2036 tuition would increase from

11% of the family budget to 24% of the family

budget.

Future

Students are currently looking at $20 thousand a

year for a public institution, and $40 thousand a

year for a private institution.

As costs continue to increase, the amount of

attendees and graduates will decrease, along with

the quality of education.

The more budget cuts made to higher education,

the more the education received is diminished.

Already courses have been cut, part-time faculty

on the rise, and student support services eliminated.

Future

The graph to the left depicts the rate of inflation of college education through 2011

The graph to the right depicts the projected cost of college in 2029-2030 school year

Future

Higher education is projected to grow throughout this decade due to the class of 2009 – the largest high school graduation class in the nation’s history.

Universities would have difficulty accommodating so many students. This, along with the recession, will lead to an increase in tuition and fees.

Surveys reveal this class of students have high college aspirations – despite being among the poorest.

California has already increased costs and prices, reduced productivity and cut access to higher education by 50,000 students.

Conclusion

Higher education is not considered as high a priority as it once was.

The future of higher education will remain questionable as long as we continue to treat it as a luxury rather than a necessity.

We currently live in a knowledge-based economy. Without a college education, it will be difficult for these students to find any employment sufficient enough to support a middle class family.

If students intend to maintain a middle-class lifestyle, they cannot do so with anything less than a college education

Conclusion

To neglect funding of what is an essential tool for careers to day puts the nation in jeopardy.

Keeping higher education affordable and maintaining a steadily increasing number of college graduates is what aids the U.S in maintaining a competitive status in the global economy.

If higher education is no longer affordable, we lose college graduates, and in turn lose our status.

If the United States intends to keep its place in the global economy, then it must do more in order to generate more college graduates.

Conclusion

For states to cut funding to higher education, raise

tuitions and fees, and expect parents to contribute

an even higher percentage of their income is not

the answer.

The income of the middle class does not rise with

inflation and does not increase with the rise of

tuition, and the percentage contributed by parents

is high enough as it is, even with the aid of financial

aid.

Higher education has to be treated as the priority

that it is before it is lost to all.

Sources

Jamrisko, Michelle. "Cost of College Degree in U.S.

Soars 12 Fold: Chart of the Day."Bloomberg.

N.p., 15 Aug. 2012. Web. 10 Mar. 2013.

Kaufman, Claire. "The History of Higher Education in

the United States." History of U.S. Higher

Education. World Wide Learn, n.d. Web. 10 Mar.

2013.

Lewin, Tamar. "Higher Education May Soon Be

Unaffordable for Most Americans, Report

Says." The New York Times. The New York Times,

03 Dec. 2008. Web. 10 Mar. 2013.