Through the process of filling out the Common App, Coalition App, UC app, and CSU app, I’ve come to realize how expensive college really is. For most private schools, the net price of attending is between 70k and 85k without scholarships or financial aid. 4-year public schools range from the net price of 15k to 25k a year but that is only if you’re an in-state student (whereas out of state students have a net price of around 40k). This also doesn’t factor in plane tickets if you move out of state, study abroad and other aspects of college that could be beneficial to one’s career. Along with the fee to apply to each college and send SAT/ACT scores, the price increases fairly quickly.
In other countries, such as Finland, Sweden, and Germany, college tuition is either free or extremely inexpensive. One reason why it’s remarkably cheap compared to the United States is that services such as housing, meals, and transportation are not as common in Europe. Without needing to supply these, the amount of money the university spends per student is much lower. Colleges in the US have to compete against each other to attract students with new facilities, sports teams, research opportunities, etc.
The most significant reason is that college is a service in high demand, and professors’ salaries have risen in the past decades. The cost of college has risen to adjust to the fluctuations in these professors’ salaries. As the price of college goes up, the value of the degree also goes up. The more school you go to, the more income you have later in life (supposably). Regardless of the increased price, students still attend college every year (inelastic demand). There is also no price ceiling on how much college can cost, which leads colleges to extract as much money as they would like to. In the United Kingdom, there is a price cap set by the government. Compared to the cost of college in 1971, the cost now is almost six percent above the rate of inflation, yet college enrollment has doubled. However, the price of college in the US is only worth it if you finish it, and get a job that is able to pay off student loans.
Sources:
https://www.theatlantic.com/education/archive/2018/09/why-is-college-so-expensive-in-america/569884/
I bet that I, as well as many students across the country, strongly agree and relate to this post. Personally, growing up I was always aware that college was expensive, but living in such a wealthy area, it didn't seem like it caused many people financial stress. From reading your article and knowing that globally other countries provide the same educational opportunities at lower costs, it upsets me that in the United States, equal opportunity isn't granted to all just because they cannot afford it. However, financial aid has been granted more and more and I hope that continues. Applying to college is already stressful enough academic wise and socially, we do not also need an economic barrier.
ReplyDeleteEven though tuition is cheaper/free in other countries, wouldn't we still have to spend money for the unprovided services? (groceries, rent) Granted, we'd regulate our own money and we can control what we spend on, but at this point, it's a choice between time and convenience. If such services were not offered, students would need to find their own places to stay, take time out of their schedules to get/make food, etc.
ReplyDeleteIn fact, I think tuition is only the smallest part of the cost of college. The location of each school determines the average cost of students. For example, students who go to college in metropolitan areas will spend more than those who go to college in rural areas. It has a lot to do with the prices in each area, and schools need to charge students to keep them in these areas. There is no denying that some college is sooooo expensive and there are many unreasonable fees.
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