College education


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Many middle and upper-class parents are finding it extremely difficult to send their children to college in an economy where jobs are few and college education costs are spiraling out of control

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College education

  1. 1. Costs Spiraling Out Of Control
  2. 2. Many middle and upper-classparents are finding itextremely difficult to sendtheir children to college in aneconomy where jobs are fewand college education costsare spiraling out of control.College education has becomevery expensive with costs forfood, living, tuition, gas, rent,and travel soaring. Collegeeducation costs haven’t risensuddenly, but gradually overtime.
  3. 3. $0$10,000$20,000$30,000$40,000$50,000$60,000$70,000$80,000$90,000$100,000high school US averagewageCollegegraduatesmaster’s orPhD’sSalary
  4. 4. 147%7%115%500%PERCENTAGETypical AmericanFamily IncomeCollege CostsConsumer PriceIndexCollege EducationInflationContinue
  5. 5. Another reason why college education has become nearlyunaffordable for many students is because of the tenurepolicy at universities. Regardless of the professors’productivity, their tenure guarantees employment for life.Demand is also responsible for this unchecked rise incollege expenses. Rising demand has tolerated theseskyrocketing costs, which parents are finding difficult tobear.
  6. 6. If universities keep increasing their prices, then it willbecome more and more difficult for the average family tosend their children to college.At some point in time, administrators will be forced totake measures to ensure cost control so that morestudents can avail of the benefits of higher education.
  7. 7.  Until college costs reduce, it is in the best interests ofstudents to make their college education worth the hugecosts. If at all their parents have been able to fund theircollege education through some means, then the studentsmust work hard during all their years in college so that theycan have a job before they leave campus. Having a job beforethey graduate will leave a good impression on futureemployers.Continue
  8. 8.  Students must focus on finding their true calling while still incollege. Those students who wish to become entrepreneurs mustweigh the pros and cons of starting their own businesses. Studentsalso have to keep up their grades in college so that they can recoverthe costs of their education with a well-paying job or a successfulbusiness.Continue
  9. 9.  Parents also have to be made to understand thatentrepreneurship is tough. So they need to support theirchildren, with full knowledge of the fact that their childrencould very well fail at starting their own business. A businessonly becomes successful with determination, talent, andcapital. Parents need to realize that a business takes time to besuccessful so they shouldn’t refrain from spending over$60,000 a year on their child’s college education. They mustremember that once successful, their child will earn morethan $80,000 a year.
  10. 10. There are many obstacles to receiving a great college educationbut the point to remember here is that in the long run, it allworks out. Many schools offer financial aid to students andparents can avail of these funding opportunities.So don’t be disheartened. A good college education is stillpossible with some financial preparation on the part ofparents, academic performance and initiative from thestudents, and support from government and other sources.