Rising college costs are like a runaway train—out of control and dangerous for people and the economy. It affects us all in some way or another. For future college students, finding, loans will be harder, and for people who have graduated college it is harder to pay back loans. More people are going to college, college costs are rising, and funding has reduced. College costs are actually “rising faster than other goods and services”.
A college education guarantees more money earned in one’s lifetime, but the rising costs of college and the interest rates on the loans make it hard for college students and graduates to really succeed. The number of enrolled college students has increased and the funding per student has decreased. There was a “37% increase from 2001-2012 in fulltime enrolled undergraduate students”. One third of “all fulltime students pay full tuition without grants”, requiring these students to find other ways to pay for college like taking out loans, for example. To make matters worse for these students, the average net price of “public four-year colleges, public two-year colleges, and private nonprofit colleges” has increased measurably. This year alone, there was an average increase in tuition and fees of “4.2%”. Shockingly, even the tuition of public school institutions is rising; they boast “70% fulltime students”. Solutions to rising college costs are being investigated like delivering college courses in different ways to give the same education at a lower coast. The rising trends in college costs are not promising and should make everyone concerned.