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College education is the dream in every parent’s eyes from the day their child is born or the ambition of a child to get a high paying job and build a rewarding career. Importance of education, especially college education, has always been emphasized and is considered important for every person. It is also equally well known that students are the hands that will develop our country in future and we want the country to rise, grow, prosper and shine. These facts are not some new inventions, but are basics known to everyone and then why have we let a situation develop where children are questioning the need, quality and worth of college education?
It seems that the subprime crisis, job losses, high volatility and uncertainties, rising bankruptcies were not sufficient to raise the anxiety among parents, so another reason was added. To increase the burden of the parents and convert their tension into hypertension, a new reason has come up - the consistent hike in tuition fees. Parents are in a dilemma and a no-win situation involving emotions and money. They do not wish that their child does not go for college education due to the high tuition fees but at the same time the hike has crashed their financial planning and made paying high fees difficult.
The constant rising of tuition fees has created severe political as well as socioeconomic consequences in United States. While the US economy doesn’t show any signs of stability and recovery, there are only few families who can meet the high expenses of education. According to the recent survey, the education institutions in California have raised tuition fees by more than 31 percent. As a result of that, most of the schools had to shut down as they didn’t get sufficient applications to run their education program.
‘Inflation’ is a simple yet powerful term due to the hard fact that rising inflation has enduring social and economic impacts. Mere mention of this term snaps the attention of economists as rising inflation is undesirable. Economists are always concerned over rise in prices of commodities as it reduces the purchasing power of people. If high inflation of commodities is considered bad and taken so seriously, why a blind eye is being turned towards the rising inflation in tuition fees?Types of Financial Aid
Choosing a college or a university for higher education may depend on a
number of diverse factors but in the end it may get stuck up on the
question of dollars and cents.
Federal PLUS Loan
Federal PLUS Loan is referred as Federal Direct Parent Loan for
undergraduate students. It is only type of Federal...
Stafford Loan
It is commonly seen that cost of education rises with the level of
education from school to undergraduate, graduate and post graduate.
Federal Perkins Loan
Federal Perkins Loan is a kind of low-interest loan for graduate as well
as undergraduate students who have extraordinary ...
Federal Student Loan
Nelson Mandela has rightly stated ‘Education is the most powerful weapon
to change the world.’ Education, with its endless benefits,
Private Loans
Private loans help students in bridging gap between the amount
government permits to borrow from the program and the exact cost of ...