Tuesday, May 2, 2017

Subsidizing College Tuition

A reason that could justify the use of subsidies on college tuition is the raising rate of student debt. Every second, the total student loan debt increases $3,055 (college.usatoday.com, 2015). With such a high student loan debt, it can seem impossible for some students to ever become debt free. Even for doctors and others in the medical field who make a higher salary, they must pay for more schooling than a bachelor’s degree, making their debt skyrocket in comparison. With subsidized tuition, college is more readily available to the public and can allow students to attend who wouldn't in a higher priced circumstance.

Subsidizing tuition leads to schools not having as much income as past years. With less income, they have to find new ways to make money which often results in them inflating the overall tuition price. Between the 2011-12 and 2016-17 school years, there has been an average of 9% raise in fees at 4 year public universities (trends.collegeboard.org, 2017). There has also been an even higher raise in fees for 2 year universities and 4 year private universities who are struggling to try and keep up.

Subsidizing college tuition results in an overall inflation of price in order for the college to try and keep up with their own expenses. If we began to downplay subsidies, with the free market system in the US, colleges won’t be so outrageously priced as some may think because then no one would attend. Private universities aren’t subsidized whatsoever, but to keep up with large public universities, they’re forced to offer extremely large scholarships. Students can choose to spend their money on a college education and those who desperately can’t afford it can receive personal help, but the school shouldn’t be subsidized so heavily for the public with taxpayer funds.

1 comment:

  1. I agree with what you're saying, but if college were cheaper or free for all people then more people would be able to go to school and then the community would be able to benefit.

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