2008 Woodie Awards
Higher Education Leads to Higher Student Debt
Issue date: 9/7/06 Section: Opinion
- Page 1 of 1
Your high school guidance counselor did not tell you everything there is to know about college.
The cost of higher education has continued to increase. News outlets, such as CNN, are making a joke about the constant influx in cost. "No wonder they call it 'higher' education."
Budget cuts in higher education are leaving parents and students with higher bills and tuition costs. This causes students to take out more loans to accommodate for the difference.
The National Association of State Universities and Land-Grant Colleges reports tuition hikes at state colleges and universities in at least 37 states as a result of budget cuts.
The budget cuts not only affect the cost of credit hours, they can also increase living, dining and textbook expenses on campus.
Our campus is experiencing the effects of budget cuts, with the recent hike in tuition and book cost. Several students have resorted to taking on more loans or applying for more credit cards to cover the influx.
For state college and university graduates nationwide, the average loan debt is already between $16,000 and $20,000.
If budget cuts continue to occur, the cost of tuition will continue to climb. Students are already facing a large increase in their student debt upon graduation.
Finding adequate employment after graduation will become even more crucial in order to prevent defaulting on the growing stack of loan payments.
We encourage students to think ahead about what financial resources they will use to pay for their remaining semester here on campus that will not leave them broke in the future.
Consider making a budget or financial plan that outlines possible outlets you could tap into if the tuition continues to climb. Be sure to check interest rates on loans and credit cards if you decide to use these resources.
Remember these loans are not free money. You will eventually have to pay them back with interest, so try to only get them if you absolutely need to.
Planning ahead will only make things better for you and your finances in the future.
The cost of higher education has continued to increase. News outlets, such as CNN, are making a joke about the constant influx in cost. "No wonder they call it 'higher' education."
Budget cuts in higher education are leaving parents and students with higher bills and tuition costs. This causes students to take out more loans to accommodate for the difference.
The National Association of State Universities and Land-Grant Colleges reports tuition hikes at state colleges and universities in at least 37 states as a result of budget cuts.
The budget cuts not only affect the cost of credit hours, they can also increase living, dining and textbook expenses on campus.
Our campus is experiencing the effects of budget cuts, with the recent hike in tuition and book cost. Several students have resorted to taking on more loans or applying for more credit cards to cover the influx.
For state college and university graduates nationwide, the average loan debt is already between $16,000 and $20,000.
If budget cuts continue to occur, the cost of tuition will continue to climb. Students are already facing a large increase in their student debt upon graduation.
Finding adequate employment after graduation will become even more crucial in order to prevent defaulting on the growing stack of loan payments.
We encourage students to think ahead about what financial resources they will use to pay for their remaining semester here on campus that will not leave them broke in the future.
Consider making a budget or financial plan that outlines possible outlets you could tap into if the tuition continues to climb. Be sure to check interest rates on loans and credit cards if you decide to use these resources.
Remember these loans are not free money. You will eventually have to pay them back with interest, so try to only get them if you absolutely need to.
Planning ahead will only make things better for you and your finances in the future.
Be the first to comment on this story