Cost of college, debt, makes college plans more uncertain

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AN EXPENSIVE ROAD… Jukari Valdez, a student, is looking up her options between colleges, universities, and a non-educational road in her home in the Town of Cicero Il on April 8 2021, to see what will benefit her in the future. Students all around the world are avoiding further education because of the cost. Some students are hoping to receive a lot of financial support.

Glen Herman's student

Soon-to-be college students and current college students are having trouble staying on track with school. The more they want to study and continue to learn the more debt they owe to the school of their choice.

After high school, many students want to continue their education but the tuition, in-school housing, and all the supplies students have to buy make it difficult to be able to continue their education.

According to CNBC, “Attending college has become a more difficult and uncertain experience for many people. One year at a nonprofit, four-year private college, including tuition, room, and board, currently costs $48,510, compared with $22,240 in the 2000-20001 academic year. If annual increases had simply tracked the inflation rate since then, it would be at $32,228.”

Students who do finish school pass high school education, end up with thousands of dollars in debt that will take them an extremely long time to pay off.

According to U.S News, “The average college graduate earns a salary that is over $30,000 more than an average worker with only a high school diploma, according to new research by the Federal Reserve Bank of New York. On average, the rate of return, or the net gain or loss on the college investment over a career, is 14 percent. So most families are still coming out firmly ahead on their investment in higher education, through rising college costs have slightly lowered the rate of return for today’s students”.

Going past a high school diploma can give you a better chance of receiving more money with your diploma. They are able to get better jobs and therefore have a better financial gain.

CNBC mentioned that “Starting salaries for new college gradated have grown less than 1 percent over the last two years, remaining at around $50,000. A decade after leaving school, more than 1 in 5 college graduates are working in a job that doesn’t even require a degree.”

Although people are able to receive their wanted degree with hard work and dedication that does not always mean they are able to get the job they desire. It is what is available to them in the time because not every one of them has the privilege to wait around to see when I job opens up that will pay them the amount they deserve.

CNBC mentioned that “Students should be prepared for their job plans to go awry. History majors, for example, could think about how their skills apply to work in politics or research, not just academia. Being flexible is so important in the U.S labor market.”

Those who decide not to attend college are able to do great things and still support themselves financially

Kevin Moreno, who did not attend college mentioned how he is financially stable because he has “a small trucking business with my family” and has a career, has an HVAC as a career.

Many who are attending college do not always get the finical support from their school that they need.

According to The Washington Post, “Outstanding student debt stood at $15 trillion in the third quarter of 2019, an increase of $20 billion over the previous quarter, according to Federal Reserve Bank of New York.”

Some people on the other hand are continuing school without any problems financially.

Frida Davila, a Morton College attendee said, “Morton College does help me with my financial aid.”

While other people are not as fortunate to get the help they need.

Karen Valdez, a Morton College attendee mentioned, “I had to pay for most of my tuition for the [three] 3 years I’ve been in college. They offer me less than half of my tuition.”

A degree is not necessary for people to be successful but it can help some people more than others.