College tuition pricing and the drive behind it - Research Paper Example

Government is encouraging private participation in educational sector as part of the liberalization policies. Private companies are utilizing this opportunity very well. The government has not implemented any laws to regulate the tuition fees hike in the higher educational sector. Private companies are thus exploiting the student community. This paper analyses the college tuition pricing and the drive behind it Contents 12 Introduction The importance of education in shaping the future of a nation is well documented by many scholars in the past.

It should be noted that America is currently struggling to find enough manpower to cater the needs of the organizations. Plenty of expatriates are currently working in critical positions in America. Moreover, a substantial portion of American jobs are currently outsourced or offshored to overseas countries because of the shortage of skilled manpower in the country. It is believed that the quality of American education is diminishing as time goes on because of the reluctance of the governments in interfering in this sector meaningfully.

Even though Obama and Bush have implemented some programs such as Raise to the Top and No Child Left Behind, as a solve the problems in American educational sector, none of these programs seem to be yielding the desired result. Rising tuition cost is one of the major problems facing by the American students. Even though students in the elite class may not face much problems with respect to the tuition price hike, students from the ordinary class forced to give up their ambitions about higher education.

In 1987, then U.S. secretary of education William Bennett authored an op-ed piece in The New York Times titled “Our Greedy Colleges.” In the piece, Bennett complained about a comment made by Benno C. Schmidt Jr., then the president of Yale University (CT), who had blamed Yale’s tuition hike on cutbacks in federal financial aid. Bennett responded by writing, “If anything, increases in financial aid in recent years have enabled colleges and universities blithely to raise their tuitions, confident that Federal loan subsidies would help cushion the increase.

The theory behind Bennett’s assertion is relatively simple: The availability of federal loans—particularly subsidized loans offering a below-market interest rate and payment of interest as long as the student is enrolled in school—provides “cover” for colleges to raise their prices, because students can offset a price increase, or at least a portion of that increase, with federal loans (Heller, 2013, p.1). America seems to be implementing the theory of Survival of fittest (developed by Charles Darwin and Herbert Spencer in order to explain the evolution theory and economic theory) in higher educational sector.

This theory is relevant while explaining the problems related to raising tuition fees in American higher educational sector. In a civilized society like ours, it is impossible to justify educational policies like helping only the fittest, with the help of theories like Survival of fittest. Every human has some natural rights and the right to get education is one among them. Government should never stay away from executing it’s duties under any circumstances. In ancient Roman Kingdom, parents were forced to kill unhealthy children because of the instructions from the King.