The Cost Of Attending College Essay - 1356 Words

The cost of attending college has risen drastically over the years. Statistics show that there has been a 260% increase in tuition costs since 1980. The increase in tuition cost equates to an increase in money borrowed to fund higher education. An increase in money borrowed results in an increase in debt accumulated over time. As a result of the rising figures, the economy as a whole has also suffered because of the restricted financial space many graduates find themselves in upon completion of their degree. In this paper, we will discuss college costs, reasons why they have risen, and the best way for students to pay for it. College costs and their recent increases cannot be discussed entirely without first examining the importance of the topic. It is common for people without student loan debt to overlook the topic due to their perceived lack of relativity it is has to their life. This thought process is harmful because much of our society does not quite understand the ways in which student loan debt affects our nation’s economy. Student loan debt directly effects how soon many people begin to make life’s larger purchases, which in turn slows down the flow of the economy. Many Americans are also more inclined to base their career selection on how well they will be able to repay their student loans. With this in mind lower paying jobs, like those in social work, are suffering from a shortage of employees while jobs with higher pay, such as technical work, have seen a majorShow MoreRelatedThe Cost Of Attending A College2262 Words   |  10 PagesThe cost of attending a college, university, or any other higher education institution in the United States is becoming increasingly more expensive every year. The United States ranks as third highest in the western world, only behind Mexico and Japan, for cost of college tuition (Taylor, Adam. â€Å"Here’s What†). 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