Retention and Cost of Education in University and College in the USA - Research Paper Example

On a gender basis, fifty-six percent of the graduates were males and sixty-one percent females. It was an all high for females in both public and private nonprofit institutions. The reverse was witnessed in the private for-profit institutions, with males being more than females at forty-eight percent and thirty-six percent respectively.

Every start of an academic year comes with an ever-increasing price of a college education. An interview conducted on persons of ages eighteen to sixty-five, found out that sixty-five percent of the respondents believed that college prices were growing at a faster rate than other items and services. Eighty-three percent went on to explain that students borrow too much to go to school.

The school year 2013-2014, recorded average tuition and fees for undergraduates at public four-year colleges at $8,893 a two-point nine rise from the previous year. The private non-profit four-year colleges recorded an average tuition fee of $30,094, which was a three-point eight percent from the previous year. For over the last decade, an increase in tuition and fees has been on a rise. At the four-year public colleges, the raise has hit a fifty-one percent rise. The private non-profit four-year colleges, the raise was at twenty-five percent. This raise has resulted in an increased number of students in need of financial assistance. The last decade has witnessed the number of Pell grants rise from four points eight to eight points eight million.

This level of dramatic increase has led many to close that the current system of higher education costs and spending has grown unsustainable for students, parents, and the American taxpayer.  

The retention of University students is of importance more so to the college administrators in trying to improve the graduation rates and decreasing of tuition and fees since the economy is known to have a noticeable effect on the retention rates.