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What to Do About Rising Costs of College Education

Posted Dec 20 2008 5:49pm
In the U.S., students who can not afford the cost of college and the accompanying expenses, they need to take out loans and/or seek employment. Federal loans bear low interest rates and payable only after the student graduates. There also grants like scholarships and private loans to augment the federal loans to cover whatever else might be needed by the school.

But things have changed lately, in the middle of this economic turmoil students at Higher Education are faced to get the money (some colleges are now costing over $50,000 per year) because their parents can afford it anymore, nor in the private colleges, neither in the community ones. Morgages are not being paid back and there is not credit offered by banks.

What college students can do to do about it?

The following are the recommendations posted on CampusGrotto, a news site that covers a wide range of College related topics:

"While this problem is pretty much out of the students’ hands, students can keep the price tag of college down by attending an in-state school, which are on average about $10,000 cheaper. Many students across the country are transferring away from expensive colleges, to attend more affordable colleges. Its almost as if the current state in the price of higher education is forcing many to go to a local community college first, not only to save money, but because that is all they can afford."

With the extreme price of tuition, it may be time we start question the non-profit status of many universities. Colleges should use up more of their endowments to help keep the cost for students at a reasonable price. Increasing the availability of student loans -if they happen to get them, is not the answer to this situation.

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