Tuition on the Rise: A Cause of Turmoil
Today colleges are growing more and more necessary for attaining a solid path towards a successful career, yet the rapidly increasing cost of tuition is driving students away from their dream of attending college, due to the preposterous amount of money that is now being demanded by colleges across the nation and world as a whole. It is sad to see students being turned away from a successful future due to the money-hungry nature of the universities that dot the globe. More and more impossible it is becoming to have a “rags-to-riches” scenario that used to highlight the American Dream, as if a student doesn’t have the riches to afford a higher education and the tuition that is drug upon its coattails, then our society is doomed to be clothed in rags forever, unless major changes are brought about to restructure and end the indefatigable growth of tuition rates across the board.
The tuition increases have come in response to the lack of federal funding to universities, leading them to find their own way to provide for their upkeep. “Recent increases in university tuition fees are part of a new entrepreneurial trend in higher education in which institutions are expected to generate more of their own revenue” (Quirke). The universities have decided that since they can no longer look towards federal funds to fuel their costs of maintenance and revenue, they must find a new route towards attaining much needed funds, and they have chosen to walk down a path of increasing tuition.
Increasing concern has been drawn toward the fact of there being a consistent correlation between for-profit colleges that accept federal student aid, and the sharp increase in tuition that results from the acceptance of the federal student aid. “We find that the Title IV institutions charge tuition that is about 78 percent higher than that charged by comparable institutions whose students cannot apply for federal financial aid” (Cellini). These Title IV institutions are for-profit universities that see the federal student aid as a good opportunity to make a quick profit off of the government by hiking up their tuition rates and other fees across the board.
In addition, the radically increasing tuition has students reluctant to pay the heavy price of attaining a college education. “At the mean, a $100 increase in tuition and fees would lead to a decline in enrollment of about 0.25 percent, with larger effects at Research I universities” (Hemelt). On average each $100 amount that is tacked onto the price of tuition and fees inversely effects enrollment, plummeting the students who attend a university by .25 percent, as only the students who can afford the outrageous prices are capable of attending. If a university were to raise its tuition by $1000, the number of students enrolled the next year would decrease by 2.5 percent, and in a university with 5000 students attending, this would result in a loss of 125 students. This will possibly...