Education is an essential factor that mostly determines the future of graduates. Graduates stand a better chance in society as knowledge and literacy are vital recommendations. Most high school graduates dream of advancing their education to college, and maybe master their diplomas or degrees. However, the barrier of expensive college tuition gets a hold of their dreams before they imagine the jobs they might land. Research shows that a majority of students cannot afford about 95 percent of the total colleges in the U.S.A. The remaining five percent is flocked, and only the smartest brains can have a chance to pursue their desired courses. The continually increasing fees has inconvenienced the rich too, leaving them no choice but to deviate from the education system - an approximation of the annual fees paid to public university totals to almost $29400.
On the other hand, private colleges require $33600 every year for tuition fees. The sum of tuition does not include accommodation and book expenses. The debate of whether college tuition should be reduced has been severally discussed. The government has footed some of the bills incurred by university students. However, the financial need of colleges still becomes a constraint. As much as education is essential, the expenses incurred are not bearable by most families. This paper will discuss the importance that lowering tuition fees will bring forth, as well as the limitations that are to be expected.
The most important benefit of lowering college tuition is giving a chance to a vast population of innovative individuals that strive to change the world. Colleges would record high rates of graduates every year. The issue of funds would be a lesser concern to bright people that view the college education as an opportunity to succeed in the competitive world. Less privileged individuals would be fairly accepted into the education system, giving them a chance to grab a share with the rich into the job market (Abel, Jaison, & Richard). The low-income students will view the government as less discriminative since they would have the opportunity to mingle with students from the higher social class. The reduction of college fees becomes an advantage to society as the workforce regularly recruits well-educated graduates. The education access granted will have students explore various opportunistic fields of the business world. The fear of paying tuition loans leads students into different paths that do not involve taking part in the growth of the economy. Reduction of college tuition, therefore, will reduce the number of students that apply for loans annually. This is advantageous as most students will not be worried about paying loans for several years after they get jobs. If the college tuition is reduced, many students will have the opportunity of choosing from various courses to pursue their desired careers. This action will not limit them from landing into the few courses that require fewer fees to cover for the tuition.
Reduction of college fees becomes advantageous to the economic status of the nation. Moreover, the social benefits in the society increase if the population of educated students increases. Usually, graduates land on high paying jobs due to their knowledge and skills. Education is what separates the learned from the unlearned individuals. This is not to mean that unlearned individuals always get low-income jobs. However, educated people stand a better chance at being recruited to jobs that pay well. With the increasing number of graduates, more individuals make more money. Therefore, the country's economy keeps on increasing as the productivity and the Gross Domestic Product goes higher. Lowering college tuition is an advantage to students who in future aid in stabilizing the economy since most of them have higher chances of getting jobs. On the other hand, the process of cutting the cost of college fees is beneficial to society. Most graduates have the knowledge and skills, as well as the social aspect due to interaction with people from various backgrounds, classes, and ethnicities. After graduates are done with college, they go back to give back to society. People in society require uplifting, and hope and the only way they can believe is by getting a word of hope from the graduates. Graduates are more likely to help those in school follow the right paths by offering moral support and assurance of the importance of education.
The issue of college loans constrains students from choosing from the variously available careers. Debts that accumulate during college life discourage students from taking risks in the future, as they are afraid they would lead them to be more indebted. High college fees might lead students into choosing careers because they are known to pay higher than others. Moreover, some students end up selecting institutions that are cheaper for the reason of joining college (Fethke). The effect of expensive college tuition has led most students deviating from their dream careers. Students are usually afraid of majoring into many expensive courses in fear of accumulation of college debt. Debt also discourages graduates from starting their businesses and moving into different cities in search of better jobs. Lowering college tuition, therefore, would relieve students of their constantly increasing debts. This is beneficial to the economy as much risk-takers would be willing to venture into the business world. It would become more advantageous to the students as they would have a variety to choose from regarding offered courses. Students would also be free to select the courses they would major in without fearing the previously incurring debts. The society would also benefit from the upcoming entrepreneurs as more job opportunities will be created as they give back to the community.
College education deletes any form of discrimination from students' minds. Most students have always thought that they can only attend college if their family lineage had a chance in graduating. Additionally, college brings together every bright student regardless of ethnicity, background or social class. Lowering college tuition would benefit most individuals as they would not rely on their families' college history. The historic inequities of college knowledge would be brushed off the students' minds giving them a chance that their folks never experienced. Moreover, various people with minimal similarities will mingle together in the learning spirit (Chin, Aimee, & Chinhui). This action brings forth the social aspect of most college graduates as they are trained how to cope in different environments, with people from various backgrounds.
The reduction of college fees is beneficial to students, the society, and the country's economy. As much as every student wishes that this exercise becomes more advantageous with minimal limitations, lowering college tuition still has its disadvantages. Reduction of college fees might lead to saturation of the institutions offering higher learning since the opportunity would be maximized by most families (Andersen). This action would also subsidize the rich, making them use the same opportunity that would be most beneficial to low-income earners. The rich would opt to take the option of free or less college tuition and invest the money in more 'relevant' fields.
The saturation in colleges would also lessen the value of a degree or a diploma. Furthermore, the job market will be filled with graduates seeking jobs in their relevant fields. The cases of unemployment would be rampant as the workforce would expand, leaving minimal room for new applicants (Josephson). Lowering college fees would become a limitation to the overqualified individuals since they would have fewer options but to settle for regular jobs. Qualified graduates would be forced to pay more to advance in their level of learning only to stand out from the saturated job market. If the cost of college tuition is reduced, it will lower the value of higher learning since the job market would be flocked by various forms of mediocre degrees and diplomas. The value of college education would be degraded since the slightly bright students would get a chance to graduate and join the business world.
Most students will pay great attention in school if the tuition is expensive since they have to grasp equally what they paid for them to learn. In the case of lowering tuition fees, students would reluctantly learn since they paid for a little amount that they would not feel a pinch losing. The laxity in college education would be as a result of less financial involvement that does not shake their reasoning for gaining an education. The opposite is evident if college fees remain high, as they feel the investment placed for their college education.
The government and the country's taxpayers would be paying for the costs that the rich would not struggle to settle. Critics are arguing that the rich would get the aid they do not need to suggest that the reduction of college fees be targeted to low and middle-income earners. The arguments of these critics are practical since a general lowering of the fees to all students would shake the nation's economic status (Hassett). The reduction of college tuition would mean that taxpayers have to pay more or a deduction from a government ministry such as health. The action of lowering tuition fees would be expensive as the costs would be forwarded to the citizens. The federal and state funds would also be used to cater for college tuition in case a bill is passed that it is mandatory for the college tuition to be reduced.
As much as being indebted to financial institutions for the college education is not a good thing, the action is beneficial to young graduates that are yet to join the business world. The business world involves opportunities, risks, profits, losses, as well as debts. Being indebted engages graduates in proper financial budgeting. The way that college graduates pay off their debts shows a great deal I determining how house mortgages or car loans will be paid in the future. Defaulters are often blacklisted from getting loans in future while those that pay off their debts stand a better chance of getting bigger loans from financial institutions. Lowering college fees, therefore, would not aid students in managing their debts causing a great deal of default a few years later after graduation. The skill of managing funds offered to them and how to pay the debts would become an issue shortly.
In conclusion, most students require college education. However, not most of them can afford to pay for the institutions. A reduction of the college tuition would mean a great deal for the students to further their education. The action is both beneficial and also comes with its limitations. The graduation rates of colleges would increase as more students would graduate. The nation would economically gain as more skilled, and empowered graduates would join the business world. College debts would not be a barrier to the lives of college students. There would be less discrimination in colleges as people from various walks of life would meet with the common goal of achieving the desired education. Reduction of college fees is also disadvantageous to the nation and the college graduates themselves. If college tuition is lowered, then the federal or state funds would be used to pay the institutions. Taxpayers would also inflict more costs in their daily activities only to settle the college fees. The business world would be saturated as a great number of graduates complete their college education. The issue of the rich students grabbing this opportunity would deteriorate the country's economy. The value of diplomas and degrees would decrease since a vast population would have g...
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