With college application season in full swing, students are working hard to finish their submissions before the rapidly approaching deadlines. It is hard to look at a college without noticing the huge cost that comes with it. There is no denying that college tuition rates are getting out of control, not to mention additional costs such as textbooks, living expenses and other fees. Has college really become too expensive, and what does that mean regarding fairness and access to higher education for students?
Over the past few decades, college tuition rates have grown much faster than any wage increases. In fact, according to The Brookings Institution, the total cost of attendance at four-year private and public colleges has tripled since 1980. This trend leaves students worried about how they will pay for their education, leading to more borrowing and loan issues.
This begs the question: What is the reason for these increases? Affordable Colleges explains that decades ago, people believed that a higher education was a one-way ticket to the middle class. The pressure to get into a prestigious university and the competition among other students meant people were willing to pay more, prompting colleges to raise their prices. Additionally, institutions have seen rising administrative costs, meaning colleges are spending more on amenities to attract students.
The picture is not entirely negative. With financial aid and other scholarships, many students pay far less than the sticker price. It is difficult to track the net price for individual students — valuable information that often does not make headlines. To truly understand changes in college costs, we need to look not only at the overall price, but also at factors such as grants and aid.
“Too expensive” looks different for every family. Those who are well off may not see it as a burden, while students from lower-income families make every dollar count. The concern now is whether our society believes it is worth giving up on a dream due to the cost of education. If college continues to become inaccessible to large groups of capable students, society risks losing the opportunities that could strengthen our communities.
