Why does college costs so much

But what are some of the causes behind this explosion in cost, and what can you, as the consumer, do about it? It turns out that the insane cost of college is a condition somewhat unique to the United States. This, reports The Atlantic , is about double the average amount per student across the rest of the industrialized world.

There is no evidence that this expense has produced superior academic outcomes or professional opportunities. There is, however, some evidence that our collective desire for the all-frills college experience plays a role. American universities are unique for the residential comforts they offer and charge for. This is three times the average for such expenses in the rest of the developed world. The Atlantic does point out that residential campus experiences are more commonplace in the U.

In other words, college is different here. College is intended as a more comprehensive life experience as opposed to just an academic one. This experience does carry with it the inherent costs of widespread on-campus residency. Of course, online education has transformed the landscape a bit, and is increasingly creating pathways to an accredited college degree that does not carry the expenses of campus living. If you can live without the climbing wall and the campus center, you do have some affordable options:.

The Atlantic warns, however, that amenities do not alone account for the reason our costs are so much greater here. Moreover, while 45 years ago 78 percent of college and university professors were full time, today half of postsecondary faculty members are lower-paid part-time employees, meaning that the average salaries of the people who do the teaching in American higher education are actually quite a bit lower than they were in By quite a sharp contrast, the total number of administrators grew from 3, to 12, Well, for one thing, schools are definitely taking on more students.

Though there are some year-to-year trends that reflect a decline in the pace of growth, by and large, the public demand for higher education simply continues to expand. Despite this shrinking return on investment, the driving forces behind college enrollment remain powerful. In other words, despite its exorbitant cost, the pressure to go to college is actually growing. This creates greater competition, both among students seeking access and colleges seeking applicants.

Increasingly, colleges and universities have come to behave like businesses, competing for the attention of students, offering more compelling perks, and vying for higher spots in rankings just like the ones we do here. But in the past few decades, public funding was severely cut, forcing colleges to raise their fees, and in turn, leaving millennials with no choice but to take out hefty loans. The rest is history. Anyone preparing to attend college may be seriously shocked to find out about how much a degree really costs, even before all of the additional costs such as living, housing, and textbooks.

The demand for college has increased significantly in the past few decades, and as demand raises, so too will the prices. The Department of Education reported that US colleges saw more than 5 million more students in than in What this proves is that despite the hefty costs of college, its benefits still seem to outweigh the cost.

Nonetheless, a degree today is still worth less than it once was due to the increased cost. Why is college so expensive? Well, while still debated, some theories have suggested that increases in tuition fees are caused by financial aid. The fact that there are more students who are borrowing money has caused governments to respond accordingly, which is something that universities started to take advantage of, knowing that the means are available.

In turn, they have to cut down on their support for higher education, which leaves colleges with no choice but to replace that lost revenue with increases in tuition fees, paid by the students themselves. Since it now costs more to get an education, it also now costs more to pay people to provide students with that education. In order to offer higher education, highly educated people are required, and expect to be paid more.

Although highly ironic, the more we take part and accept these increased college tuitions, we also contribute to making our degree less beneficial. It can be seriously overwhelming to think about paying for college with such astronomical fees.

Thankfully, there are a wide variety of payment options that can help you achieve that degree. The first step in getting help to pay for college is completing a FAFSA , which will determine if you are eligible for government aid, such as student loans or pell grants. Always be sure to do your research about all your options and find which universities are affordable for you.

While college inevitably comes with a high price, there are still some ways to pay less for college, such as applying for financial aid, taking advanced placement courses, using dual enrollment courses, testing out of college classes, taking advantage of education expense tax deductions, and strategically applying to colleges such as in-state public colleges. Online colleges are also a great way to pay less for college, as they tend to be much cheaper, and some are even tuition-free such as University of the People.

Unfortunately, if things continue to grow at the same rate, college tuition rates of today will actually seem like a bargain compared to what might become. Tuition fees are increasing faster than inflation and even public, in-state schools have been increasing their fees.

So what can we do to prevent these increases? Online courses are a great place to start and are just as effective as traditional college. Online learning not only reduces real estate fees, but is also more productive.

While it may feel like obtaining a degree is a hopeless dream only available for those with the means, the introduction of online college has provided more equal opportunities to receive higher education. The costs are simply able to be reduced by studying online since there is no physical campus that needs to be funded, as well as other factors such as a dining hall and other costly facilities.

Online college is an effective way to manage to both study and work part time at the same time, avoiding student debt from building up. Saving on the commute to school also is a major time and money saver. On top of all of these benefits, overall, online college is far more affordable than traditional institutions.

Here at University of the People, we offer degrees that are completely tuition-free — creating an ideal option for students who want to graduate without putting a financial strain on themselves. Apply Now. Request Info. Ask a student. UoPeople Arabic.

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