About expensive college tuition 2 - Research Paper Example

Numerous factors have been attributed to the increasing cost of college tuition, among them being the high demand for higher education. However, the great question is if this cost is worth the value of education that students attain. Bennett and David (199) say that almost every parent says they need their child to join college. Therefore, nearly 68 percent of high school graduates attend college. However, only 54 percent of the total students who join college graduate with full academic year’s attendances, six years to be precise.

Hence, with all the students with high dreams and hopes joining college, only about half graduate from college (Bennett and David 200). Lange and Topel (460) outline that according to the College Data, to attend an in-state public college or university students have an average budget of $22,261. While that number seems lower for public colleges and universities, private colleges and universities’ is estimated at $43,289. With this high cost, CNN reported that for 2013 alone each graduate or college student owed the state averagely $35,200 loan debt.

According to Lange and Topel (464) in the perspective view, the summary of the average household consumer debt in the United States shows that Americans all owe $31,646 of student loan debt. In total household consumer debts, American consumers or citizens owe the state a debt of $11.15 trillion out of which $994 billion is debt in student loans. This shows a 4 percent debt increase from 2012 (Marc Joseph A16). It is true that the college tuition fee has become too high. Parents get afraid that their children might not be able to attend college (Lange and Topel 480).

The lucky who can take their children to colleges pay a lot of money. Americans know that part of the reason for the high college fee is due to the declining state support on education. However, it is also very true that those