Fixing the Rising Cost of College Education

The average cost of tuition at a four-year U.S. public or private university for 2008 hovered around the $16,000 mark, up nearly 6% from the previous year. In a recession economy, these rising figures could prove too heavy on the average family's budget. It is time for the both the people, as well as the government, of the United States to develop ways of fixing this problem.

Including room and board, College costs can reach as high as $30,000. Being more than half of the median household income for US families ($50,207), how can one afford to sacrifice a majority of its income to fund the future of just one student?

To put it simply, they can't.

This is the main reason why there are higher numbers of Student Loan applicants than in any other period in our country's history, ballooning more than 600% between 2000 and 2005. Unfortunately, like a credit card, students aren't actually paying for school when they take out a loan, they are merely putting the task off until after they graduate. This situation can become extremely dangerous, as many students do not understand the consequences of failing to pay a loan, which can lead to disastrous credit problems.

Fortunately for America there is still time, and very real options, to change these terrifying trends.

Considering the need for military personnel in a period of ever increasing conflict, the US Government could restructure the current GI Bill to provide more incentives to attend College after military service. This solution would both incline more citizens towards civic duty as well as make it easier for more people to pursue a College degree.

Also, over 11% of Undergraduates, as well as 51% of Graduate students, come from foreign countries. Many of these students are paid by their governments to come to this country specifically to gain a top level education. The Government could easily tap into this resource by raising the cost of tuition for non-US citizens. In doing so, the extra income could be used to lower the cost of tuition for US students. This would free up some of the necessary funds to pursue a degree as well as promote our own education over that of other countries.

In a world where the costs of Higher Education are rising faster than a family's income, our government needs to develop new ways to make College more available to its citizens. If we continue to ignore this problem, we risk losing our international status in regards to education.

Income Statistics provided by US Census Bureau

College Tuition Costs provided by College Board

Student Loan Statistics provided by Examiner

Foreign Student Information provided by CNet