College Crisis: An Analysis of College Debt and Possible Alternatives
College is either seen as a major advantage or a overwhelming burden. So the questions arises is college worth it? Does college truly prepare you for the future? Does it give you connections and the education you need for future careers? Is it worth your money and possible debt? The answer to all of these questions is yes, college is worth it. College is a place where you gain experiences and knowledge that is unable anywhere else. It “rivals” online college courses but in reality the comparison is non-existent.
The pending argument among society today is, is college worth it? Experts as well as students have debated this topic for many years but the answer in inconclusive. The primary issue at hand is that the debt accumulated from college is too great and therefore not worth it. Many people are turning to other things such as online schooling (MOOCs) and avoiding college. They have many excuses as to why they choose these different routes and there excuses are very real and reasonable. But when it comes down to it there is ways to battle these problems and to make college the best decision of your life. In the long run though, college is worth every penny. College is a place where you have experiences that you cannot have anywhere else, including a computer. You cannot experience the same atmosphere of learning and the lust to succeed anywhere else in the world. The money made from future occupations after receiving a college diploma outweighs the debt expenses. College is a great place to gain contacts and it is easier to find a place to work after going to a university and graduating. Overall, there is nothing that can beat the experience of college. The pros outweigh the cons on every level. When analyzing the role of debt among students and the problems that arise due to the stress of college, it shows that there are solutions that make higher education worth it in the long run even though there are many alternatives that seem like better choices.
The first thing to discuss in this college crisis is why it is even a crisis. College has quickly become very unpopular by a lot of people and the question is why? Tuition costs for all universities are skyrocketing all around the country and that is where the problem is coming from. The high rate of tuition is leading to large amounts of student debt. This student debt wouldn’t be a problem if the students were able to pay it off once they were working, but due to a struggling economy these debts and loans are not being paid off and therefore are just stacking up. Time magazine talks in detail about this debt crisis in their article entitled “Student Loan Debt Crisis: How’d We Get Here and What Happens Next?” This article starts out with a shocking statistic that the average student loan debt each borrower carries has risen 30% to $23,829 (White 1). This is exactly the problem that people have with college. Tuition costs and debt amounts are raising side by side and the debts are never getting paid off. This is only one of the problems that is encountered with college. In “The Impact of Youth Debt on College Graduation” by Min Zhan it talks about how debt is affecting everyone. “ As a result, taking loans has become the “norm” for many families to cover college costs” (Zhan 1), Loans has become a big part of college and as a result the debt is racking up because of inability to pay off these loans. This high debt and loan problem is only one of the reasons why this is considered a college crisis.
In addition to high debt, another problem faced is the number of college dropouts and the number of people that don’t even apply to college due to difficult admission processes. While many people are not applying for college anymore there is a reason behind it. The college admission program is so difficult these days that many people are rejected from the dream school, or in reality every school. It is hard for a student to continue their college education when they don’t have a college to go to. Many people are not able to travel out of their state for housing or tuition reasons and if they are denied to that school they have a major problem.
Due to these high tuition rates many people are turning to a popular alternative which is an online degree. The most common form of this online degree is known as MOOC. MOOC stands for Massive Open Online Courses which are only classes put out by universities as a way for people to get their degrees online. These MOOCs allow students to get their degree on their own time and right in the comfort of their home. After further analyzing MOOcs many problems were seen with them. Although MOOCs have opened the door to online learning it is clear that Antonio Regalado was incorrect when he said that MOOCs are “the most important education technology in 200 years” (qtd. in Stephen Marshall pg. 1). According to Stephen Marshall in “Exploring the Ethical Implications of MOOCs” there are many ethical problems associated with MOOCs (Marshall 1). Ethical problems arise in MOOCs such as privacy, consent, and avoiding harm to the subjects. It is for the people who are not willing to make the sacrifice of a true college education. A journalist for the webpage www.collegexpress.com explored an online education and whether or not it is beneficial. The list of cons goes on and on including the need for self-discipline, limited instructor and social interaction, technological difficulties, and delayed responses to questions. These are just a few of the things that are wrong about an online college education and MOOCs. But if online schooling isn’t a solution to the debt crises than what is?
In addition to online schooling, many people decide to not even go to college. More and more people every year are not continuing their schooling by going to college. It has become more accepted to not go to college and to begin work right away. Figure 1 shows many different calculations done by fastcompany.com. According tot his calculation many more people are saying that college wasn't worth it. It is shocking to see but these numbers are higher than ever that represent the people that believe that college was worth it. For many people that daunting thought of college debt is turning them away and they are skipping college altogether.
After examining the primary problem with college, and dissecting the flaws of online educations it is clear that we need a different solution. A solution for a problem such as this is hard to come by because the problem of debt is hard to solve. The immediate thought of most people is to simply lower tuition but that is not possible. In addition, the more prestigious school that provide a better education are the ones that are the most expensive. The seriousness of this problem is why more and more people are choosing either or not to attend college or to receive an online education which is cheaper and more convenient. When it comes down to it there has to be better solutions and we will analyze a few of these solutions in the next few paragraphs.
Although the solutions discussed above are available they are not the smartest choices. There are three solutions that are more effective and that give you a full college experience and education. The first one of these solutions is to have parents pay for tuition. It is a parents responsibility to provide for their children so they have the best life possible. I believe that if a parent pays for tuition it eliminates this debt from the students shoulders and it also motivates the students. A student is less likely to slack off when they know that their parents are putting forth their hard earned money for their education. This way students won’t have debt leaving college as a burden on their shoulders but they can pay it off in the future to their parents if they please.
Secondly, there is always the option of going to a more affordable college or even a community college. Although it may not be the education you could get at a school like Harvard it is 1) affordable and 2) still better than no education or online school. According to the College Board, the average cost of tuition and fees for the 2013-2014 school year was $30,094 at private colleges, $8,893 for state residents at public colleges, and $22,203 for out-of-state residents attending public universities (Affordable Colleges Online 1). This is a big gap between tuition rates and it still gives the college experience we all desperately need. When attending a smaller school or an in-state school your debt level decreases or is even eliminated. This is a good solution for people that want to go to college but are tight on money. Attending a school like Brigham Young University or a community college makes school affordable and you're still getting a college education. Brigham Young University is a top ranked school and where a quality education is guaranteed. 31% of graduates have debt and the average amount is 13,554 (Webley 1). This is a small number of students with debt that can be paid off daily in the future.
Thirdly, it is a known fact that college graduates are more successful and have a higher annual income than those that don't attend college.In a study done by Pew Research in regards to the difference in pay and unemployment rates between college grads and non-grads, the results were staggering. “The economic analysis finds that Millennial college graduates ages 25 to 321 who are working full time earn more annually—about $17,500 more—than employed young adults holding only a high school diploma. The pay gap was significantly smaller in previous generations. College-educated Millennials also are more likely to be employed full time than their less-educated counterparts (89% vs. 82%) and significantly less likely to be unemployed (3.8% vs. 12.2%)” (Pew Research Center 2). The way this factors in as a solution is to teach students to preserve through college because the long term benefits out weigh the short term benefits of not attending college. The solution here is to go to college and get a real degree because the opportunities created for a real college experience are unmatched. Online schools don’t have job hook-ups for their students and don’t give the students the opportunity to succeed while working with real people in a real life situation.
Although, many people think of college as a smart move, there are also people that disagree. In the article “Higher Education is not Always a Smart Monetary Investment” by Stephanie Owen and Isabel Sawhill it talks about how the pay gap between college graduates and highs school graduates isn’t a big enough gap to have an impact. They state a good point that “for a given individual, the benefits may not outweigh the costs” (Owen Sawhill 3). It all depends on the person and there circumstance according to Owen and Sawhill. For most people the benefits do outweigh the costs but there is that group of people that need to be considered that wont benefit. In addition, the decisions made in college can directly change their lives and so the pressure is put on the student to make the right decision. From the same article mentioned above they state that, “Even within a school, the choices a student makes about his or her field of study and later career can have a large impact on what he or she gets out of her degree.” If the student makes the wrong choice about their desired field they run the risk of not being successful or happy. Even though these are points to consider they are taken from a small group of people outside the average population. For most people as stated in this same article, “it is hard to deny that, on average, the benefits of a college degree far outweigh the costs”. When it comes down to it a college degree makes all the difference in success rate and happiness.
In conclusion, it is clear that this college crisis is blown out of proportion and there are reasonable ways to deal with it. The problem is people aren't willing to accept these solutions so they continue to struggle or avoid this crisis. When it comes down to it nothing can beat a real college experience at a real university. The experiences are unbeatable and there is no way to match the learning and atmosphere that is created at them. There are alternatives to college such as MOOCs or skipping college altogether but if you make one of those decisions it will be the biggest mistake of your life. I would push college on anyone I encounter because it is a place that everyone needs to go to reach their full potential and ability to succeed.
College is either seen as a major advantage or a overwhelming burden. So the questions arises is college worth it? Does college truly prepare you for the future? Does it give you connections and the education you need for future careers? Is it worth your money and possible debt? The answer to all of these questions is yes, college is worth it. College is a place where you gain experiences and knowledge that is unable anywhere else. It “rivals” online college courses but in reality the comparison is non-existent.
The pending argument among society today is, is college worth it? Experts as well as students have debated this topic for many years but the answer in inconclusive. The primary issue at hand is that the debt accumulated from college is too great and therefore not worth it. Many people are turning to other things such as online schooling (MOOCs) and avoiding college. They have many excuses as to why they choose these different routes and there excuses are very real and reasonable. But when it comes down to it there is ways to battle these problems and to make college the best decision of your life. In the long run though, college is worth every penny. College is a place where you have experiences that you cannot have anywhere else, including a computer. You cannot experience the same atmosphere of learning and the lust to succeed anywhere else in the world. The money made from future occupations after receiving a college diploma outweighs the debt expenses. College is a great place to gain contacts and it is easier to find a place to work after going to a university and graduating. Overall, there is nothing that can beat the experience of college. The pros outweigh the cons on every level. When analyzing the role of debt among students and the problems that arise due to the stress of college, it shows that there are solutions that make higher education worth it in the long run even though there are many alternatives that seem like better choices.
The first thing to discuss in this college crisis is why it is even a crisis. College has quickly become very unpopular by a lot of people and the question is why? Tuition costs for all universities are skyrocketing all around the country and that is where the problem is coming from. The high rate of tuition is leading to large amounts of student debt. This student debt wouldn’t be a problem if the students were able to pay it off once they were working, but due to a struggling economy these debts and loans are not being paid off and therefore are just stacking up. Time magazine talks in detail about this debt crisis in their article entitled “Student Loan Debt Crisis: How’d We Get Here and What Happens Next?” This article starts out with a shocking statistic that the average student loan debt each borrower carries has risen 30% to $23,829 (White 1). This is exactly the problem that people have with college. Tuition costs and debt amounts are raising side by side and the debts are never getting paid off. This is only one of the problems that is encountered with college. In “The Impact of Youth Debt on College Graduation” by Min Zhan it talks about how debt is affecting everyone. “ As a result, taking loans has become the “norm” for many families to cover college costs” (Zhan 1), Loans has become a big part of college and as a result the debt is racking up because of inability to pay off these loans. This high debt and loan problem is only one of the reasons why this is considered a college crisis.
In addition to high debt, another problem faced is the number of college dropouts and the number of people that don’t even apply to college due to difficult admission processes. While many people are not applying for college anymore there is a reason behind it. The college admission program is so difficult these days that many people are rejected from the dream school, or in reality every school. It is hard for a student to continue their college education when they don’t have a college to go to. Many people are not able to travel out of their state for housing or tuition reasons and if they are denied to that school they have a major problem.
Due to these high tuition rates many people are turning to a popular alternative which is an online degree. The most common form of this online degree is known as MOOC. MOOC stands for Massive Open Online Courses which are only classes put out by universities as a way for people to get their degrees online. These MOOCs allow students to get their degree on their own time and right in the comfort of their home. After further analyzing MOOcs many problems were seen with them. Although MOOCs have opened the door to online learning it is clear that Antonio Regalado was incorrect when he said that MOOCs are “the most important education technology in 200 years” (qtd. in Stephen Marshall pg. 1). According to Stephen Marshall in “Exploring the Ethical Implications of MOOCs” there are many ethical problems associated with MOOCs (Marshall 1). Ethical problems arise in MOOCs such as privacy, consent, and avoiding harm to the subjects. It is for the people who are not willing to make the sacrifice of a true college education. A journalist for the webpage www.collegexpress.com explored an online education and whether or not it is beneficial. The list of cons goes on and on including the need for self-discipline, limited instructor and social interaction, technological difficulties, and delayed responses to questions. These are just a few of the things that are wrong about an online college education and MOOCs. But if online schooling isn’t a solution to the debt crises than what is?
In addition to online schooling, many people decide to not even go to college. More and more people every year are not continuing their schooling by going to college. It has become more accepted to not go to college and to begin work right away. Figure 1 shows many different calculations done by fastcompany.com. According tot his calculation many more people are saying that college wasn't worth it. It is shocking to see but these numbers are higher than ever that represent the people that believe that college was worth it. For many people that daunting thought of college debt is turning them away and they are skipping college altogether.
After examining the primary problem with college, and dissecting the flaws of online educations it is clear that we need a different solution. A solution for a problem such as this is hard to come by because the problem of debt is hard to solve. The immediate thought of most people is to simply lower tuition but that is not possible. In addition, the more prestigious school that provide a better education are the ones that are the most expensive. The seriousness of this problem is why more and more people are choosing either or not to attend college or to receive an online education which is cheaper and more convenient. When it comes down to it there has to be better solutions and we will analyze a few of these solutions in the next few paragraphs.
Although the solutions discussed above are available they are not the smartest choices. There are three solutions that are more effective and that give you a full college experience and education. The first one of these solutions is to have parents pay for tuition. It is a parents responsibility to provide for their children so they have the best life possible. I believe that if a parent pays for tuition it eliminates this debt from the students shoulders and it also motivates the students. A student is less likely to slack off when they know that their parents are putting forth their hard earned money for their education. This way students won’t have debt leaving college as a burden on their shoulders but they can pay it off in the future to their parents if they please.
Secondly, there is always the option of going to a more affordable college or even a community college. Although it may not be the education you could get at a school like Harvard it is 1) affordable and 2) still better than no education or online school. According to the College Board, the average cost of tuition and fees for the 2013-2014 school year was $30,094 at private colleges, $8,893 for state residents at public colleges, and $22,203 for out-of-state residents attending public universities (Affordable Colleges Online 1). This is a big gap between tuition rates and it still gives the college experience we all desperately need. When attending a smaller school or an in-state school your debt level decreases or is even eliminated. This is a good solution for people that want to go to college but are tight on money. Attending a school like Brigham Young University or a community college makes school affordable and you're still getting a college education. Brigham Young University is a top ranked school and where a quality education is guaranteed. 31% of graduates have debt and the average amount is 13,554 (Webley 1). This is a small number of students with debt that can be paid off daily in the future.
Thirdly, it is a known fact that college graduates are more successful and have a higher annual income than those that don't attend college.In a study done by Pew Research in regards to the difference in pay and unemployment rates between college grads and non-grads, the results were staggering. “The economic analysis finds that Millennial college graduates ages 25 to 321 who are working full time earn more annually—about $17,500 more—than employed young adults holding only a high school diploma. The pay gap was significantly smaller in previous generations. College-educated Millennials also are more likely to be employed full time than their less-educated counterparts (89% vs. 82%) and significantly less likely to be unemployed (3.8% vs. 12.2%)” (Pew Research Center 2). The way this factors in as a solution is to teach students to preserve through college because the long term benefits out weigh the short term benefits of not attending college. The solution here is to go to college and get a real degree because the opportunities created for a real college experience are unmatched. Online schools don’t have job hook-ups for their students and don’t give the students the opportunity to succeed while working with real people in a real life situation.
Although, many people think of college as a smart move, there are also people that disagree. In the article “Higher Education is not Always a Smart Monetary Investment” by Stephanie Owen and Isabel Sawhill it talks about how the pay gap between college graduates and highs school graduates isn’t a big enough gap to have an impact. They state a good point that “for a given individual, the benefits may not outweigh the costs” (Owen Sawhill 3). It all depends on the person and there circumstance according to Owen and Sawhill. For most people the benefits do outweigh the costs but there is that group of people that need to be considered that wont benefit. In addition, the decisions made in college can directly change their lives and so the pressure is put on the student to make the right decision. From the same article mentioned above they state that, “Even within a school, the choices a student makes about his or her field of study and later career can have a large impact on what he or she gets out of her degree.” If the student makes the wrong choice about their desired field they run the risk of not being successful or happy. Even though these are points to consider they are taken from a small group of people outside the average population. For most people as stated in this same article, “it is hard to deny that, on average, the benefits of a college degree far outweigh the costs”. When it comes down to it a college degree makes all the difference in success rate and happiness.
In conclusion, it is clear that this college crisis is blown out of proportion and there are reasonable ways to deal with it. The problem is people aren't willing to accept these solutions so they continue to struggle or avoid this crisis. When it comes down to it nothing can beat a real college experience at a real university. The experiences are unbeatable and there is no way to match the learning and atmosphere that is created at them. There are alternatives to college such as MOOCs or skipping college altogether but if you make one of those decisions it will be the biggest mistake of your life. I would push college on anyone I encounter because it is a place that everyone needs to go to reach their full potential and ability to succeed.