University and college education
Introduction
Today tertiary education is costly as the students who are enrolled in colleges and universities end up paying more on tuition fees yearly. The increase is mostly facilitated by the management as they put in more activities in place annually that require a considerable amount of money for execution. Therefore, it will be better for all tertiary education systems to be revised by the relevant education and curriculum bodies to meet the current standards. By doing this, they will eliminate the incidences where some universities are charging more tuition fees on an annual basis.
The government should chip in and ensures that the loans that they are issuing to the students are not used in purchases of resources like textbooks. This will protect them from financial exploitations by lecturers at the faculty who choose the books the students should buy. Due to these vast costs in tertiary educations, many students from poor backgrounds struggle to complete while others drop out on the way. Although tertiary education plays an essential role in the agricultural and industrial sectors, it is, therefore, better for the government to ensure that the students are protected from the inflation of tuition fees.
Inflation: This an increase in prices of commodities and services in the economy over a given period. In our discussion, there are the drastic increases in tuition fees in tertiary education yearly due to vast activities that need to be executed in tertiary education grounds. For example, a lot of research is being done there, and therefore, more funds are required to finance them. As a result of this, students end up paying more to cater to them.
Standards of living: This is the material well being of an average person taking into account the necessities available to a specific socio-economical class or particular geographical area, material goods, wealth, and comfort. Some universities and colleges have built-up structures that are fitted WIFI hotspots, modern kitchen for students, self-contained rooms for sleeping and showers. This, on the other side, is factored in the tuition fees by a certain percentage of increment hence forcing students to pay for them indirectly.
Infrastructural set up: This includes setting up of modern laboratories and libraries that can support advanced research in the tertiary education sector. To acquire this status, they need a considerable amount of money to do so. Since the government may not cater to all these projects, students end up sponsoring the projects, and hence the overall costs are factored in the fee structure.
Subsidies: This is the financial support extended to an economic sector to promote social and economic policies. In tertiary education sectors, the government should chip in and subsidizes some of the significant projects like laboratories and library set up that require a lump sum amount of finances. By doing this, the costs will not be diverted to the student tuition fees.
Therefore, tertiary education institutions need massive funding from government and non-governmental organizations to be able to fund the vast academic activities. This will solve the fee increments annually, thereby motivating students. If this is implemented in all tertiary academic sectors, dropouts from universities and colleges will be minimized, and this will result in the economy having more graduates people. This will be accompanied by more innovations and inventions in the economic sector.