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The Sacrifices of Getting a Degree                                                                    

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The Sacrifices of Getting a Degree

Getting a college degree is getting hard day by day because of the rise in school fees. This rise is associated with many factors, such as; scholarships; a self-sponsored student will have to pay an extra fee to finance a scholarship plan (Weebly.com). Degree being on demand has given colleges a chance to take advantage of people who are ready to pay any amount to acquire university education. Students and parents are the ones feeling the pinch. One has to take up a student’s loan to fund his education or work for a few years while saving up to join college. Students are now finishing schools with a lot of debts from student loans. These debts have affected some aspects of their lives, the percentage of marriage has declined, and young people are taking their time to buy their homes (Weebly.com). Is this situation fair for parents and students? Something has to be done to change this situation.

Government bursaries and funding has been evoked. The students need this fund to clear school. Since schools do not receive enough funds from the state anymore, this has led to an increase in tuition fees. Costs incurred by colleges have now been placed in the hands of the students. When the funds provided by the government goes down, this negatively affects school, and they are forced to either reduce the number of students being admitted or increase tuition fee. Some students cannot afford to pay their tuition fees, and they depend on the funds provided by the government to subsidize the expense. The drop in funds has forced some students to drop out of school. Is this situation fair for parents and students? Something has to be done to change this situation.

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Policymakers and stakeholders in the education sector have talked of several solutions to this problem. Although some of the proposals they talk about lack an effective plan of action. Most of these proposals from politicians are for gaining political mileage because they lack a certified blueprint. This thesis aims to scrutinize the idea of former President Barack Obama of subsidizing college education. The proposal did not receive support from the media and other policymakers because the sector generates 3% of GDP (Noah, 2013).  This paper will identify how the policy could have been implemented and the benefits that it could have brought to the United States.

Free education proposal was introduced by Senator Bernie Sanders, who wanted the government to reduce the rise in fees by over 50% (Cohen, 2015). Clinton developed her version; she promised to create a country where students won’t depend on loans to study (Edwards, 2016). This plan is an expensive venture that would have affected the taxpayers greatly, and without a clear plan, this proposal could not be practical. Renehan (2015) subsidizing college education will mean that the state will raise taxes and hurt the economy (Para 11). Edwards (2016) States that Earlier Clinton was against Sanders’ idea because it would depend on the governor for funding, although her version was also going to require state funding.

Senator Rubio came with a different plan suggesting that wealthy private investors agree to pay college fees for the students, and in the future, get back their money by taking a certain percentage of the student’s income for a period after finishing school (Edwards,2016).

 

 

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Rubio’s version of the idea is better, comparing it to the government’s loan scheme, which involved the payment of interest, unlike Rubio’s plan, where the students will not have to pay any interest at all.  Cohen (2015) proposed an almost similar proposal, although, in his opinion, the students could defer up to 75% of college fee then pay later. This plan is different from Rubio’s in that it is the school that borrows money to fund students then students pay later. The project will not cost the colleges much while lending because they have collateral (Cohen, 2015). This proposal would work although college would be in debt and might lose property listed as collateral so long as the students default to pay.

All these solutions either involved the people directly or indirectly and would affect people, and that is the reason why they could not work. Overtaxing the people to give them free education would still harm them. People can default loans due to different reasons. This is the reason why Obama’s proposal was ideal as it could be implemented in ways that did not involve the general public. Noah (2013), the politicians that came with a similar opinion to Obama that is McKeon and Boehner were not supported and had to back down because of party pressures. As an initiative to reduce the cost of studies, schools could introduce three-year programmers to help students save up on cash, by introducing online learning and also summer classes. This plan would be a good idea since studying for four years is so costly, although most students don’t like this system of learning since it involves learning for a whole year.

 

 

 

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Vedder et al. (2010) state that this system is the best for ambitious students who would like to start their careers early and still save cash while they study (pg.27). Students or employers do not prefer online education because it is not qualitative (Renehan,2015). But a lot can be done to improve this education system. First, suppose technology is developed; quality of the online education will also go up (Renehan, 2015). If this education system is developed and more people enroll for online education, they will save money because online learning is way cheaper. This system is also very flexible and can allow students who want to work and study to do so. Reduction of administrative staff, according to research, the staff members in the administration have increased more than the instructors or faculty staff (Veddar et al. 2010).  This is Affecting the colleges spending as they must pay these staff members. If the number of administrative staff is reduced, the cost of providing college education will go down hence reduction in the fees paid in those institutions. Apart from reducing the staff members, some administrative jobs could be given to students so that they work and study at the same time, and this will help the students to get money to settle their school arrears (Veddar et al. 2010).

For education to be affordable, the methods mentioned above could work effectively to save parents and students from paying a lot of interest while returning the money they borrowed to fund education. Another advantage is that students will be able to get experience while studying. In both plans, suppose they take the jobs in school or take a part-time job while studying online.

 

 

 

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This system will give them mileage in their careers due to the experiences earned while studying. Another advantage is, these methods do not involve parents digging deep in their pockets to pay taxes, so it can be easier for them to support the course. When the fee is subsidized, parents can even plan so that they do not end up taking up loans or making their children do so.  If these methods are implemented, fewer students will drop out of school compared to the number now, and also the students will start their lives after school without serious debts. Their lives can continue, and they can acquire their dream houses early, marry, and get children whenever they want. This proves that although former President Obama’s proposal was not taken seriously, it could work in so many ways. Plus, the funds that come from the government, many students will get a chance to study their dream courses in the college that they want. The government should also find a way of curbing the colleges that take advantage of parents, chop the unnecessary fee if the college is found guilty. The politicians should also put the interest of the people first; for example, in the case of Clinton and Sanders, she did not support the idea because, at the time, it gave the senator an upper hand. If politician as part of the policymakers takes the matters of the public seriously, situations like these can be avoided.                                                                                                                                                    7

Reference

Causes and Effects. (n.d). Weebly.com Retrieved from

https://risingcollegeprices.weebly.com/causes-and-effects.html.

Cohen, S. (2015, February 25). How to Make College Cheaper. New York Times Retrieved from

https://www.nytimes.com/2015/02/25/opinion/how-to-make-college-cheaper.html?

0p19G=3248.

Edwards, S. H. (2016, October 24). Who Picking Up the Education Tab? Time Inc.

Noah, T. (2013, March 11). Higher and Higher Ed: Will No One Stop the Rising Cost of College.

The New Republic.

Renehan, S. (2015). Rising Tuition in Higher Education: Should We Be Concerned.

Visions of the Liberal Arts: Vol. 1: Is. 1. Available at:

https://scholar.oxy.edu/liberalarts/vol1/iss1/3.

Vedder, R., Gillen, A., Bennett, D., Denhart, M., Robe, J., Holbrook, T.,… Malesick, M.

(2010, September). 25 Ways to Reduce the Cost of College.

Center for College Affordability and Productivity

 

 

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