Introduction
University tuition has become an integral component of modern-day society, considering it exposes the graduate to numerous opportunities in life. The National Center for Education Statistics data indicates that college cost in an in-state institution is about $19,000 per annum (Acton, 2020). The high amount of college tuition fee charged is high and prohibitive since people’s average income in the United States remains low. The escalating cost of a college education has led to the emergence of debate on whether there is a need to reduce learners’ fees or even make college tuition-free (Mitchell et al., 2017). The essay will discuss how the country’s population, such as students, will benefit from a reduction in university fees.
Current Situation
Numerous students find it challenging to transition from high school to college because of the prohibitive tuition fee. The learners seeking to go to tertiary institutions have to rely on their well-off parents or take high-interest loans to pursue further education (Acton, 2020). The various systems and models, such as grants and tuition aid developed by colleges and the government to enable learners to transition to high learning institutions, are insufficient. For instance, in a significant percentage of universities, education grants are given to students from low-income families with exemplary scores in their high school GPA (Mitchell et al., 2017). The action limits the number of students who can leverage them to pursue advanced education after high school, cutting off many learners from college graduates’ numerous opportunities.
Causes of High College Fees
The high cost of college tuition is attributable to numerous factors. For instance, the lack of comprehensive state funding for tertiary education, ballooning student services, inflation, surge in demand, and a need to sustain an ever-growing faculty (Mitchell et al., 2017). The increase in the number of students seeking a college education, over the years, has significantly contributed to the charging of prohibitive tuition fee. The higher learning institutions have to meet the laws of supply and demand, making it crucial for them to tailor their charges to reflect the high demand from learners seeking to advance their knowledge (Mitchell et al., 2017). Secondly, the more money the students can borrow from the Federal student aid accounts, the more the colleges can charge the learners.
Solution
The lowering of college tuition fee offers the promise of motivating more learners to pursue tertiary education. A report by the Federal Trade Commission on the impact the lowering of college fees would have on education establishes that enrollment would increase by 26% and degrees awarded would grow by 20% (Dennon, 2020). Education plays a vital role in individuals’ development and progress, considering it helps expand their worldview. Therefore, the increment in the universities’ enrollment numbers would help ensure a more enlightened society is realized, ensuring a substantial number of people can make sound decisions in their life. The current high college tuition fee takes a toll on the students’ physical and mental well-being and advancement (Dennon, 2020). For instance, learners have to contend with diminishing return on investment from their education since they have to pay high interests on the loan they took to pay for their university tuition.
Conclusion
Education is a critical pillar in the advancement of individuals in today’s society. The debate on the fees to be paid in colleges brings to the limelight concerns on whether education is a basic right, considering its influence on society. In the future, more governments will embrace scrapping university education since it can help level the playing field for all learners. For instance, it will be possible to ensure that money does not hamper students’ social progress because they cannot afford the program or school of their choice.
References
Acton, R. (2020). Effects of reduced community college tuition on college choices and degree completion. Education Finance and Policy, 1-71.
Dennon, A. (2020). Should colleges lower tuition? BestColleges.com. Web.
Mitchell, M., Leachman, M., & Masterson, K. (2017). A lost decade in higher education funding state cuts have driven up tuition and reduced quality. Web.