Why Do We Pay So Much For Education?
Getting a college education is getting more expensive every new school year, but nobody tells us why this happens. This price increase is causing thousands of students to have millions of student debts piled on to them every year.
These debts will take them decades to pay off so they can go on with their lives. But is it worth the trouble, many ask? We take a look at why education is becoming unaffordable for many students out there.
Tuition Price Increases
Everything is becoming more expensive, including the cost of education that seems to be one of the biggest problems for students. One of the main expenses for colleges is the expensive athletic programs they have to offer their new students every year.
So the tuition expenses are becoming higher as the prices of things such as new technology are added to the training programs. One of the additional aspects colleges have to look at is access to the internet with fast WiFi connections.
New technology in the classroom is also one of the additional costs a college has to look at every new school year.
Colleges and universities have many expenses in the paperwork provided for tests, exams, and study notes. But another addition to the overheads of a college is the administrative staff they have to employ to keep up with demands.
These administrative staff may include a fully equipped IT department to keep the internal and external network running all the time. The catering department needs to be kept up to date for the student’s and staff’s meals.
The administrative structure is entirely separate from the college’s faculty or academics department, including the marketing department.
Reduced Funding From the State
Even though there still is a wide range of state funding available for those who qualify, these funds shrank drastically over the last few years. This is just the funding available for public schools in the USA that dropped up to 10 percent in the previous decade.
Fewer students from the lower-income group are getting accepted into these programs funded by the state, causing them to apply for expensive loans. The worst is that state and federal funding of the public schools is continuing to decline every new school year.
This is raising many questions from those institutions that are researching these sorts of things.
Education costs will keep on rising and causing students to rather go for much cheaper career options. This may leave a considerable gap in the market where higher educated people are already in short supply and students are using alternative options.