SOMETHING AMERICANS AGREE ON
The Facts
The cost of college is outpacing the cost of living.
Student loan debt has exceeded 1 trillion dollars, and the average graduate now possesses more than $25,000 in debt.
College tuition at public universities rose 8% this year.
President Obama has said that he will reward colleges who keep their tuition down with more federal funding, and cut back on funding from colleges that keep becoming more expensive.
Why We Should Care
Each year, more young Americans are going broke from their education. We have been taught that we need a college education in order to increase our life-long earnings and prospects for a good career. Yet if colleges keep becoming more expensive and we have to take out additional loans, we’ll never dig ourselves out of debt. The President can’t just keep giving money to schools for financial aid if they keep becoming more expensive. He has to encourage them to keep their costs in check.
Ironically, the cost of learning is becoming less expensive (with curriculums and knowledge more accessible and available online) yet colleges keep becoming more expensive. This is because colleges are not spending their money wisely on learning, and instead spend money on facilities so they can obtain “prestige” or good rankings.
