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38 Years Vs. College Essay

1058 words - 5 pages

The price of a Soft Taco Supreme at Taco Bell is $1.49. The price of attending New York University (NYU) is about $61,997 (Jacobs, 2013). That is approximately 41,609 Soft Taco Supremes from Taco Bell, enough to feed someone for 38 years if they ate one for every meal. While most universities in the USA do not cost quite as much as NYU, tuition is still very high, even for in-state public schools. If tuition continues to rise, the amount of students that cannot afford to go to college will increase, and these students will not be able to achieve their full potential. Because of this, colleges and universities in America, particularly public colleges, need to reconsider the cost of ...view middle of the document...

Many have to pay for college on their own, and between juggling a job, school, and a social life, students will get stressed out, and may even drop out of school due to this stress, wasting all of the money and effort that they had already spent towards earning a degree. About 35% of students drop out due to stress from balancing work and school, and another 31% because of the lack of affordability of tuition and fees. (Kantrowitz, 2009). Some students will receive financial assistance; others do not receive enough financial aid from Free Application for Federal Student Aid (FAFSA), the school they are attending, and outside scholarships, leading them to take out loans. According to Goodman (2011), loans now constitute about 70% of financial aid packages. Upon graduating college, this leaves graduates in very poor financial situations – “College seniors who borrow to finance their education now graduate with an average of $24,000 in debt, and student loan debt now tops credit card debt among Americans” (Denhart & Vedder, 2011). Even after students graduate from college, loans will linger in their lives, and due to the unwelcoming job market for college graduates, students are unable to pay off these loans. According to Denhart’s & Vedder’s (2011) research, approximately 17 million college graduates were “underemployed” in 2008. This means that these graduates were not utilizing all of their abilities, and settling for jobs that they are overqualified for, thus they are not making enough money to pay off their loans. Overall, college tuition can leave a heavy burden on college students’ lives, even after they graduate.
Furthermore, the opportunity cost for many students to go to college leaves them in a very risky situation. While a college degree increases the likelihood for students to get jobs, there is no guarantee that they will. “For many families, college is a terrible deal. It’s not a guarantee of a higher-paying job nor is it going to ensure that a graduate will be able to afford a home, a new car and all of the trappings of middle-class life” (Wasik, 2013). The value of a...

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