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College Tuition

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According to a study by Discover Financial Services, 81% of parents with college-bound kids between the ages of 16-18 say attending college “Greatly affects their child's success.” Despite this, 75% of parents say they worry about covering the cost of college. Should such an important step in the life of many young adults be so drastically overpriced? Paying for a college education without taking out loans developed into impractical idea. In effect, most young adults have large amounts of debt in advance to them starting their carrier. Although some people believe college tuition is fairly priced, colleges and universities take advantage of the students feeling that a college education determines their success. On the other hand, supporters of the current college tuition average mostly credit a high inflation rate, a high increase in the demand for a college education and a high increase in the number of professors. For example, an argument …show more content…
Statistics show the inflation rate of the U.S. Dollar since 1986 reached 115%. Likewise, the rate of increase in college tuition reached 498% by 2015. For example, in 1986, a student could receive a degree from Harvard for $11,040 a year. If inflation causes the price of college to increase, Harvard would cost $23,968 in 2015. However, not including any other fees, Harvard’s tuition in 2015 costs $43,938. Providing that, in 1986 a student working a minimum wage job could pay for his or her college education from Harvard by working 6.5 hours 5 days a week. Whereas a student working a minimum wage job in 2015 would have to work 20.5 hours 5 days a week to pay for a college education from the same university. As a result, the average college student can not logically expect to go through college without taking out

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