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However, this case shows a situation where the demand of college education does not decrease despite the drastic increase in the tuition fees.
As mentioned, the increase in tuition fee is expected to discourage the demand for college education for most people in the economy. This would portray a free market economy where prices determine the demand. However, the students in need of education have various expectations about their future economic status and career prospects. Consequently, the students observe their education based on prospective future gain in labor and wages. This is considered as the future economic rewards to education (Samuelson & Marks, 2012). Therefore, its demand increases influencing the enrollment in various colleges across the country. As a result, the increase in the price of college education over the last 30 years in the U.S has not affected the demand for the education from the high school graduates and nationwide college enrollments.
The U.S government does not support its citizen’s education directly. Instead, it provides its support through the provision of loans and grants to the students over the period of four years for a standard degree course. After the completion of the college education, the former students are required to repay the loans extended to them at a given subsidized interest rate. As a result, the U.S government does not have control over the patters of change in the college tuition fee.
The first graph shows the price of college education against the quantity provided, Q1. The supply of education has remained constant with minimal improvements in the existing educational institutions. Therefore, the supply curve is represented by S. the demand curve, D1 shows the present demand for college education. The need for education from the numerous high school graduates has increased its demand. This is indicated by a shift of the demand curve to the right from D1 to D2. Since the
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We should fund college education for all Americans because knowledge is the basis of success.
There are many cases in which students stop their education half way through and will go after something else. Such students will realize the importance of education only after sometime.
When a baby is born, the dream of most parents is to educate the child up to a level where the he or she can become independent. Most parents love to see their children reach college level as they consider it as the most appropriate. However, some people do not like college education and therefore, sometimes discourage their children never to attend college education.
First of all, there are the resources it puts at the student's disposal, the library, the computer and internet facilities, gyms, sporting facilities and so on: each an avenue to pursue excellence in some of the other field of interest, or simply push for physical and intellectual growth. Plus, there is the chance to meet people.
The use of the Internet has impacted the lives of people in the way they do their work. The internet revolution has also affected the educational sector. There are many sites which offer online courses especially at the college level and higher. It would be rare to find a university in the U.S. that has no internet connection and reasonable technology infrastructure.
ut higher education it is basically impossible to advance in this fast-paced world, the author of this paper is convinced that college education is indeed worth the time and money.
The most valuable asset an individual can possess, especially, if born into a family that does
Well, guilty as charged: I’m one such dropout! My ex-class fellows, who managed to complete their degrees, are now on better positions than I am, are earning more than what I make and are paying higher taxes to the government than I am. I dropped out of school back
The author of the essay comments on the system of the college education. Namely, it is highlighted that in the past years, only the rich people had the opportunity of going to college, leaving the poor oblivious of what the future had in store for them. After all the 21stcensury has paved way for everyone to understand the importance of college education.
Education was meant to ensure that the workplace remains both competitive and productive for the purpose of facilitating the economy. Higher education is also responsible for ensuring that an individual is creative and that they interact well with
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