10 answers
Daniella
Student
Calexico, California
1
Question
Asked
984 views
Why is college more expensive ?
Why is college so expensive/ university? Are we supposed to be 40 and still living with student debt? Are we supposed to work our 40k job to pay the 300k dollars on student loans?
10 answers
Patrick Meyer
Executive - Data Analytics and AI
566
Answers
Naperville, Illinois
Updated
Patrick’s Answer
Daniella, I want to first thank you for reaching out and asking your questions regarding the cost of obtaining an education within the United States and the increasing debt placed on individuals. I hope the information that I have below provides you with some insight and/or help.
Thank you for expressing your concerns regarding the rising costs of college education and the challenges associated with student debt. The increasing expense of attending college can be attributed to various factors within the higher education landscape.
One primary contributor is the decline in state funding for public institutions, which has led colleges and universities to rely more heavily on tuition revenue to cover operating expenses. Additionally, investments in infrastructure, technology, and administrative services contribute to the overall cost of education.
The cost of living, including housing, food, and transportation, also adds to the financial burden for students. As for your question about managing student debt, it is not the intention for individuals to be burdened with significant debt well into their 40s. However, the reality is that many students accumulate substantial debt to finance their education.
While it may seem daunting to repay such loans, there are strategies and programs available to assist borrowers, such as income-driven repayment plans and loan forgiveness options. It's essential to approach borrowing for education with careful consideration and to explore all available resources to manage debt responsibly. While paying off student loans can be challenging, a college education is still a valuable investment in your future, providing opportunities for personal and professional growth. The Head of the Department of Education once said that they are committed to addressing the issues surrounding college affordability and student debt and continue to work towards solutions that ensure access to quality education for all.
Here are some strategies to help manage student debt:
• Maximize Scholarships and Grants –Before turning to student loans, explore all available scholarship and grant opportunities. This can help reduce the amount you need to borrow.
• Consider Lower-Cost Options – I know this option may not be ideal for you or anyone else, but you might want to look into attending community college for your first two years before transferring to a four-year institution. Community colleges often have lower tuition rates, allowing you to save on costs while still earning college credit.
• Budget and Prioritize Spending – I know for my children we had to develop a budget and stick to it. We had to prioritize spending on essentials like tuition, fees, and textbooks, and minimize discretionary expenses.
• Explore Loan Repayment Options – You might want to also look to investigate repayment options such as income-driven repayment plans or loan forgiveness programs. These programs can help make your monthly payments more manageable based on your income level.
• Seek Financial Counseling – One thing that helped us was we found out that many colleges and universities offer financial counseling services to help students manage their finances and navigate the student loan repayment process. Take advantage of these resources to develop a personalized plan for managing your debt.
Thank you for expressing your concerns regarding the rising costs of college education and the challenges associated with student debt. The increasing expense of attending college can be attributed to various factors within the higher education landscape.
One primary contributor is the decline in state funding for public institutions, which has led colleges and universities to rely more heavily on tuition revenue to cover operating expenses. Additionally, investments in infrastructure, technology, and administrative services contribute to the overall cost of education.
The cost of living, including housing, food, and transportation, also adds to the financial burden for students. As for your question about managing student debt, it is not the intention for individuals to be burdened with significant debt well into their 40s. However, the reality is that many students accumulate substantial debt to finance their education.
While it may seem daunting to repay such loans, there are strategies and programs available to assist borrowers, such as income-driven repayment plans and loan forgiveness options. It's essential to approach borrowing for education with careful consideration and to explore all available resources to manage debt responsibly. While paying off student loans can be challenging, a college education is still a valuable investment in your future, providing opportunities for personal and professional growth. The Head of the Department of Education once said that they are committed to addressing the issues surrounding college affordability and student debt and continue to work towards solutions that ensure access to quality education for all.
Here are some strategies to help manage student debt:
• Maximize Scholarships and Grants –Before turning to student loans, explore all available scholarship and grant opportunities. This can help reduce the amount you need to borrow.
• Consider Lower-Cost Options – I know this option may not be ideal for you or anyone else, but you might want to look into attending community college for your first two years before transferring to a four-year institution. Community colleges often have lower tuition rates, allowing you to save on costs while still earning college credit.
• Budget and Prioritize Spending – I know for my children we had to develop a budget and stick to it. We had to prioritize spending on essentials like tuition, fees, and textbooks, and minimize discretionary expenses.
• Explore Loan Repayment Options – You might want to also look to investigate repayment options such as income-driven repayment plans or loan forgiveness programs. These programs can help make your monthly payments more manageable based on your income level.
• Seek Financial Counseling – One thing that helped us was we found out that many colleges and universities offer financial counseling services to help students manage their finances and navigate the student loan repayment process. Take advantage of these resources to develop a personalized plan for managing your debt.
Deborah Ogundepo
Researcher
73
Answers
Nigeria
Updated
Deborah’s Answer
College costs have risen due to factors like increased demand, administrative expenses, and investment in facilities and technology, often leading to significant student debt burdens; however, seeking scholarships, financial aid, and considering lower-cost education options can help mitigate this burden and facilitate a more manageable repayment process.
Alireza Poostindooz
financial consultant
41
Answers
Isfahan, Isfahan Province, Iran
Updated
Alireza’s Answer
The rising cost of college is a complex issue with several contributing factors:
**Increased Demand:** More people are attending college than ever before, putting pressure on institutions to accommodate them. This can lead to higher costs for everyone.
**Decreased State Funding:** Many states have reduced their funding for public universities, shifting the burden onto students and their families.
**Administrative Growth:** The number of non-teaching administrators at universities has risen significantly in recent decades, adding to operating costs.
**Competition and Amenities:** Some universities compete with each other by offering expensive amenities like fitness centers and recreation facilities, driving up costs for all.
**Financial Aid System:** The availability of grants and loans can sometimes incentivize universities to raise tuition, as students have more money to borrow.
**The question of affordability and burden of student debt is understandable:**
* It is true that graduates often face heavy student loan debt, which can impact their finances and life choices for years.
* This is not the ideal scenario, and many argue that the benefits of a college degree should not come at such a high cost.
**Addressing this issue requires a multifaceted approach:**
* **Making college more affordable:** This could involve increased state funding, reforms to the financial aid system, and encouraging universities to control costs.
* **Promoting alternative pathways:** Not everyone needs a traditional four-year degree to be successful. Community colleges, apprenticeships, and other options can offer valuable skills and training at a lower cost.
* **Debt forgiveness and income-based repayment plans:** These can help ease the burden of student loan debt for graduates struggling to make payments.
**Ultimately, the goal is to ensure that everyone who wants a college education can afford it without incurring crippling debt.** This requires ongoing discussions and solutions from policymakers, educational institutions, and society as a whole.
I hope this information helps you understand the issue better. Please let me know if you have any further questions.
**Increased Demand:** More people are attending college than ever before, putting pressure on institutions to accommodate them. This can lead to higher costs for everyone.
**Decreased State Funding:** Many states have reduced their funding for public universities, shifting the burden onto students and their families.
**Administrative Growth:** The number of non-teaching administrators at universities has risen significantly in recent decades, adding to operating costs.
**Competition and Amenities:** Some universities compete with each other by offering expensive amenities like fitness centers and recreation facilities, driving up costs for all.
**Financial Aid System:** The availability of grants and loans can sometimes incentivize universities to raise tuition, as students have more money to borrow.
**The question of affordability and burden of student debt is understandable:**
* It is true that graduates often face heavy student loan debt, which can impact their finances and life choices for years.
* This is not the ideal scenario, and many argue that the benefits of a college degree should not come at such a high cost.
**Addressing this issue requires a multifaceted approach:**
* **Making college more affordable:** This could involve increased state funding, reforms to the financial aid system, and encouraging universities to control costs.
* **Promoting alternative pathways:** Not everyone needs a traditional four-year degree to be successful. Community colleges, apprenticeships, and other options can offer valuable skills and training at a lower cost.
* **Debt forgiveness and income-based repayment plans:** These can help ease the burden of student loan debt for graduates struggling to make payments.
**Ultimately, the goal is to ensure that everyone who wants a college education can afford it without incurring crippling debt.** This requires ongoing discussions and solutions from policymakers, educational institutions, and society as a whole.
I hope this information helps you understand the issue better. Please let me know if you have any further questions.
Matt MacLennan
Screenwriter
3
Answers
Los Angeles, California
Updated
Matt’s Answer
Colleges and Universities charge so much because they are highly competitive, high-demand businesses.
Any business that has those two things is going to charge as much as they can and people will pay.
Some people think that's fair. In capitalism, you should be able to sell your service or product for as much as you can. Profit is the most important thing.
While others, like yourself, don't agree that this system works. Some people believe that the focus on price and profit is too big and other things are important too.
There are a lot of complex questions:
You are buying a product (an education that gives you skills), but if those skills don't earn you the right amount of money, then are they worth it?
If you spend $300K on college and have a job that makes $40K, you will be repaying that debt for a long time - maybe not at all.
If your job is $100K (after you work a while and get some experience), then you will repay your loans far faster.
Should we only be deciding what to learn based on what that knowledge can be sold for?
Is it ethical that charging this much money for college/university means millions of people can't afford to be highly educated and get high-paying jobs?
Any business that has those two things is going to charge as much as they can and people will pay.
Some people think that's fair. In capitalism, you should be able to sell your service or product for as much as you can. Profit is the most important thing.
While others, like yourself, don't agree that this system works. Some people believe that the focus on price and profit is too big and other things are important too.
There are a lot of complex questions:
You are buying a product (an education that gives you skills), but if those skills don't earn you the right amount of money, then are they worth it?
If you spend $300K on college and have a job that makes $40K, you will be repaying that debt for a long time - maybe not at all.
If your job is $100K (after you work a while and get some experience), then you will repay your loans far faster.
Should we only be deciding what to learn based on what that knowledge can be sold for?
Is it ethical that charging this much money for college/university means millions of people can't afford to be highly educated and get high-paying jobs?
Joan Shea
Global Marketing Director
1
Answer
Bellevue, Washington
Updated
Joan’s Answer
Hello Daniela!
The cost of college doesn't have to put you in debt until you are 40 years old.
Not knowing what type of degree you are planning to pursue, I assumed a standard bachelor's degree from a 4 year university.
The cost of college can vary widely depending on a couple of factors:
1. State schools verses Private Schools
2. In state tuition verses out of state tuition
For example:
The average in-state tuition for college students in California varies depending on the type of institution. Here are some figures for the academic year 2022-2023:
Tuition for Public Four-Year Universities:
*California Residents: Approximately $6,690.
*Out-of-State Students: Around $20,2061.
Tuition for Private Four-Year Colleges:
The average tuition and fees for private colleges in California is approximately $27,368 regardless of residency.
Community Colleges (2-4 year schools):
California Residents: About $1,272.
Out-of-State Students: Approximately $9,203.
Keep in mind that these figures include both tuition and fees. Additional living expenses (such as room and board) are not included in these tuition costs. If you’re considering attending college in California, it’s essential to factor in the overall Cost of Attendance (COA), which includes various expenses beyond tuition and fees for books, labs, transportation, etc.
To keep costs low you might want to consider going in state as there are a lot of great choices in California like San Diego State University where you might be able to live at home and commute to campus.
Another option to keep costs low would be to attend university online in the state of California where the average tuition is roughly $420 per credit hour.
Hope this information helps provide some additional clarity.
The cost of college doesn't have to put you in debt until you are 40 years old.
Not knowing what type of degree you are planning to pursue, I assumed a standard bachelor's degree from a 4 year university.
The cost of college can vary widely depending on a couple of factors:
1. State schools verses Private Schools
2. In state tuition verses out of state tuition
For example:
The average in-state tuition for college students in California varies depending on the type of institution. Here are some figures for the academic year 2022-2023:
Tuition for Public Four-Year Universities:
*California Residents: Approximately $6,690.
*Out-of-State Students: Around $20,2061.
Tuition for Private Four-Year Colleges:
The average tuition and fees for private colleges in California is approximately $27,368 regardless of residency.
Community Colleges (2-4 year schools):
California Residents: About $1,272.
Out-of-State Students: Approximately $9,203.
Keep in mind that these figures include both tuition and fees. Additional living expenses (such as room and board) are not included in these tuition costs. If you’re considering attending college in California, it’s essential to factor in the overall Cost of Attendance (COA), which includes various expenses beyond tuition and fees for books, labs, transportation, etc.
To keep costs low you might want to consider going in state as there are a lot of great choices in California like San Diego State University where you might be able to live at home and commute to campus.
Another option to keep costs low would be to attend university online in the state of California where the average tuition is roughly $420 per credit hour.
Hope this information helps provide some additional clarity.
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity.
3824
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Hello Daniella,
Why is College More Expensive?
1. Increase in Operating Costs: One of the primary reasons for the rising cost of college education is the increase in operating expenses for universities and colleges. These institutions have to cover costs such as faculty salaries, administrative staff, maintenance of facilities, utilities, technology upgrades, and various other operational expenses. As these costs continue to rise, the institutions often pass them on to students through increased tuition fees.
2. Decline in State Funding: Over the years, there has been a significant decline in state funding for higher education. Public universities, which used to rely heavily on state funding, have seen a decrease in financial support from state governments. This reduction in funding has forced these institutions to raise tuition fees to make up for the shortfall.
3. Demand for Amenities and Services: Today’s students expect more amenities and services from their colleges and universities compared to previous generations. Institutions are investing in state-of-the-art facilities, recreational centers, student services, and other amenities to attract students. While these additions enhance the overall student experience, they also contribute to the overall cost of attendance.
4. Growth in Administrative Costs: There has been a noticeable growth in administrative positions within colleges and universities. The increase in administrative staff has led to higher costs associated with salaries, benefits, and other administrative expenses. This expansion of administrative roles has added to the overall cost burden that is passed on to students.
5. Student Loan System: The availability of student loans has also played a role in the rising cost of college education. Easy access to student loans has allowed colleges and universities to increase tuition fees since students can borrow money to cover the costs. This has created a cycle where institutions raise tuition because students can secure loans, leading to a continuous increase in the cost of education.
6. Investment in Research and Technology: Colleges and universities are constantly investing in research initiatives and technology advancements to stay competitive and relevant in today’s academic landscape. While these investments are crucial for academic progress, they also come with significant financial implications that contribute to the overall cost of attending college.
In conclusion, the increasing cost of college education can be attributed to a combination of factors such as rising operating expenses, declining state funding, demand for amenities, growth in administrative costs, the student loan system, and investments in research and technology.
Top 3 Authoritative Sources Used:
1. U.S. Department of Education: The U.S. Department of Education provides valuable data and insights into trends related to college affordability, financial aid programs, and factors influencing the cost of higher education.
2. The College Board: The College Board is a reputable organization that conducts research on trends in college pricing and financial aid. Their reports offer comprehensive analysis on the factors contributing to the rising cost of college education.
3. National Center for Education Statistics (NCES): NCES is a primary federal entity responsible for collecting and analyzing data related to education in the United States. Their research reports provide authoritative information on various aspects of higher education costs and trends.
These sources were instrumental in providing accurate information and data-driven insights into the factors influencing the increasing cost of college education.
GOD BLESS!
James.
Why is College More Expensive?
1. Increase in Operating Costs: One of the primary reasons for the rising cost of college education is the increase in operating expenses for universities and colleges. These institutions have to cover costs such as faculty salaries, administrative staff, maintenance of facilities, utilities, technology upgrades, and various other operational expenses. As these costs continue to rise, the institutions often pass them on to students through increased tuition fees.
2. Decline in State Funding: Over the years, there has been a significant decline in state funding for higher education. Public universities, which used to rely heavily on state funding, have seen a decrease in financial support from state governments. This reduction in funding has forced these institutions to raise tuition fees to make up for the shortfall.
3. Demand for Amenities and Services: Today’s students expect more amenities and services from their colleges and universities compared to previous generations. Institutions are investing in state-of-the-art facilities, recreational centers, student services, and other amenities to attract students. While these additions enhance the overall student experience, they also contribute to the overall cost of attendance.
4. Growth in Administrative Costs: There has been a noticeable growth in administrative positions within colleges and universities. The increase in administrative staff has led to higher costs associated with salaries, benefits, and other administrative expenses. This expansion of administrative roles has added to the overall cost burden that is passed on to students.
5. Student Loan System: The availability of student loans has also played a role in the rising cost of college education. Easy access to student loans has allowed colleges and universities to increase tuition fees since students can borrow money to cover the costs. This has created a cycle where institutions raise tuition because students can secure loans, leading to a continuous increase in the cost of education.
6. Investment in Research and Technology: Colleges and universities are constantly investing in research initiatives and technology advancements to stay competitive and relevant in today’s academic landscape. While these investments are crucial for academic progress, they also come with significant financial implications that contribute to the overall cost of attending college.
In conclusion, the increasing cost of college education can be attributed to a combination of factors such as rising operating expenses, declining state funding, demand for amenities, growth in administrative costs, the student loan system, and investments in research and technology.
Top 3 Authoritative Sources Used:
1. U.S. Department of Education: The U.S. Department of Education provides valuable data and insights into trends related to college affordability, financial aid programs, and factors influencing the cost of higher education.
2. The College Board: The College Board is a reputable organization that conducts research on trends in college pricing and financial aid. Their reports offer comprehensive analysis on the factors contributing to the rising cost of college education.
3. National Center for Education Statistics (NCES): NCES is a primary federal entity responsible for collecting and analyzing data related to education in the United States. Their research reports provide authoritative information on various aspects of higher education costs and trends.
These sources were instrumental in providing accurate information and data-driven insights into the factors influencing the increasing cost of college education.
GOD BLESS!
James.
Saleem Ullah
A student
1
Answer
Sadiqabad, Punjab, Pakistan
Updated
Saleem’s Answer
In financial crisis we can say that we have to do 40k job to pay 300k dollars because we to be professional and educated and it's really important for the success so be educated should be the first priority in your life.
Steph McDonald
Recruiter
9
Answers
Charleston, South Carolina
Updated
Steph’s Answer
Hi Daniella,
This is a bit of a spicy take, but not all careers require a college degree, so depending on your career choice, you might not need to get deeply in debt to be successful. Companies like Google, Apple, HubSpot and more are dropping degree requirements. So if you're thinking about becoming a software engineer for example, going to a coding bootcamp that is well respected might be just the ticket to get you the experience you need without the time and monetary investment.
If you're planning to become a doctor, don't forgo the college route, however <laughing>
Good luck!
Steph
This is a bit of a spicy take, but not all careers require a college degree, so depending on your career choice, you might not need to get deeply in debt to be successful. Companies like Google, Apple, HubSpot and more are dropping degree requirements. So if you're thinking about becoming a software engineer for example, going to a coding bootcamp that is well respected might be just the ticket to get you the experience you need without the time and monetary investment.
If you're planning to become a doctor, don't forgo the college route, however <laughing>
Good luck!
Steph
Michelle M.
Entertainment Industry
1180
Answers
Updated
Michelle’s Answer
Hello, Daniella !
Joan gives you some great advice and I would also like to contribute just for something to think about. You have two options. Loan Refusal and Loan Free Colleges. If you choose one of these options, you will graduate will no student debt.
First, loan refusal is just what it sounds like. When you apply for financial aid, don't check the loan choice, just check the grants and Work Study. Take four classes a semester which is 12 units and fulfills the financial aid requirement. To keep costs down further, enroll in a community college for the first two years and transfer to a four year college for your Bachelors Degree. I highly advise speaking with an official financial aid officer on a college campus (in person) about this to get the accurate and exact current procedure to not check the Loan choice on the Financial Aid application. They can explain how to "refuse" a loan also if somehow they award you a loan in your package even if you indicated no loan choice.
Secondly, there are colleges who have made an agreement to not include loans as part of the financial assistance. It doesn't mean that the college is free, just that loans will not be part of the financial aid package. You can always make up the difference of not having a loan by applying for scholarships or other grants. A search on line will come up with some grants and scholarships you can apply for. Even if it is a tuition free school, you will have expenses to meet.
Than there are some tuition free colleges, too. I have left a link about them below. I would advise calling your nearby colleges as well as any other colleges you may be interested in and asking if they are no loan colleges if you can't first find the information on the internet. There are also some college savings plans that you should check with your parents about. Ask them if they've opened one for you already or if it's not too late, look into it further if it seems doable for your family.
I was a college student in California during an era when there was no tuition. You paid a very small registration fee and purchased your books and materials for class. In my senior year, all of a sudden, loans were part of the package and they were automatically part of the financial aid package. Who knew that you could refuse them ? I was given two very small loans and paid them back within 5 years. They were nothing compared to what today's loan debts are. But before that, it was just grants, work study and if you applied for scholarships. No one even thought of taking out a loan for school. Times have changed very much. But it's nice to know that you have some options and with enough information, you can make a beneficial choice so you don't have to have lifelong debt from college.
I hope that this was helpful and that you know there is a way to an academic path. Don't give up ! I wish you all the best.
NO LOAN COLLEGES AND INFORMATION https://www.usnews.com/education/best-colleges/paying-for-college/articles/schools-that-meet-full-financial-need-with-no-loans
FREE TUITION https://thecollegepod.com/7-free-tuition-college-programs-in-california/
TUITION FREE CALIFORNIA COMMUNITY COLLEGES https://scholarships360.org/financial-aid/free-tuition-for-community-colleges-in-california/
NO LOAN COLLEGES https://www.lendingtree.com/student/colleges-no-student-loans-policy/
COLLEGE SAVINGS PLANS https://www.savingforcollege.com/intro-to-529s/what-is-a-529-plan
Joan gives you some great advice and I would also like to contribute just for something to think about. You have two options. Loan Refusal and Loan Free Colleges. If you choose one of these options, you will graduate will no student debt.
First, loan refusal is just what it sounds like. When you apply for financial aid, don't check the loan choice, just check the grants and Work Study. Take four classes a semester which is 12 units and fulfills the financial aid requirement. To keep costs down further, enroll in a community college for the first two years and transfer to a four year college for your Bachelors Degree. I highly advise speaking with an official financial aid officer on a college campus (in person) about this to get the accurate and exact current procedure to not check the Loan choice on the Financial Aid application. They can explain how to "refuse" a loan also if somehow they award you a loan in your package even if you indicated no loan choice.
Secondly, there are colleges who have made an agreement to not include loans as part of the financial assistance. It doesn't mean that the college is free, just that loans will not be part of the financial aid package. You can always make up the difference of not having a loan by applying for scholarships or other grants. A search on line will come up with some grants and scholarships you can apply for. Even if it is a tuition free school, you will have expenses to meet.
Than there are some tuition free colleges, too. I have left a link about them below. I would advise calling your nearby colleges as well as any other colleges you may be interested in and asking if they are no loan colleges if you can't first find the information on the internet. There are also some college savings plans that you should check with your parents about. Ask them if they've opened one for you already or if it's not too late, look into it further if it seems doable for your family.
I was a college student in California during an era when there was no tuition. You paid a very small registration fee and purchased your books and materials for class. In my senior year, all of a sudden, loans were part of the package and they were automatically part of the financial aid package. Who knew that you could refuse them ? I was given two very small loans and paid them back within 5 years. They were nothing compared to what today's loan debts are. But before that, it was just grants, work study and if you applied for scholarships. No one even thought of taking out a loan for school. Times have changed very much. But it's nice to know that you have some options and with enough information, you can make a beneficial choice so you don't have to have lifelong debt from college.
I hope that this was helpful and that you know there is a way to an academic path. Don't give up ! I wish you all the best.
Michelle recommends the following next steps:
Angie Vogel
Commercial Loan Specialist
3
Answers
St. Louis, MO
Updated
Angie’s Answer
College can be very expensive but I recommend staying within your state and either attending a state school or look for private schools that offer lots of scholarships - these are always negotiable! Community College is a great way to start and much less expensive!
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