THE BURNING ISSUE OF COLLEGE TUITION
By: Hope Wilkos, Writer/Blogger Photographer: George Whylie Videographer: Maxine NolanThe platforms that the President stands for as compared to the GOP candidate, Mitt Romney, varies anywhere from a small to an extreme degree.
However, there is one issue which both men agree upon and that platform is keeping college tuitions within affordable means. This coming July 1st, when the rate cut expires, it is imperative that interest rates on student loans remain low and do not double. Some of the known statistics are eye-opening. It is almost unaffordable to go to college these days. Student loan debt is now around $1 trillion. Over the last few years, college tuition has doubled and we are seeing more high school graduates go to community colleges to save costs. The average graduating university student has a debt of $34,300 as they begin their life in the professional world and these days it is not a guarantee that they will find a job immediately in the field that they majored in.
In just 2 years time, state universities have increased their tuition by 50% and they educate 80% of their respective residents. In community colleges, classes are becoming more limited and over 280,000 students are locked out of the system. It is a startling realization that in order to afford college, students have to get a job while attending school. This may limit study time as well as extracurricular activities. So based on that premise, in order to go to an excellent school such as Harvard, it takes a great deal of sacrifice on the part of the prospective student and parents.
In comparison, a college graduate does earn more than an employee without a degree, however, it has been found that in the first two years of employment, more of the wages are paid out in taxes to the government.
We must close the tax loopholes for gas and oil companies in order to keep loan rates low.
The President has been campaigning across parts of the nation calling for acceleration of job growth providing more opportunities for college graduates and better education efforts by hiring the best teachers and making school more affordable to get that necessary education. He has claimed to strengthen aid for low-income students as well as giving all parents access to a simple fact sheet on student loans and financial aid in order to give them greater choices. This is called “Know Before You Owe”. President Obama is trying to convince Congress to steer federal aid to schools to keep tuition affordable. It doesn’t stop there…….States need to do their part by making higher education one of the highest priorities in their budget. If they cut this item it only drives up the cost of public college tuition. As the President says, “The question is not whether they get better, they always do. The country would be better if more Americans could get……education.”
While at this time, Mitt Romney, has no specific plan in mind to combat the rising tuition costs, he does agree that college education should be affordable to all. However, he supports the House Republican budget, which would cut Pell Grants by 25% or more which would prove detrimental at a time when they are so needed. He also tells the American public to shop around for the best education at the right price and don’t expect the government to forgive your debt.
As we edge closer to July 1st, college loans and affordable tuition will most likely be one of the top priorities of both campaigns. Large loan debt is the silent killer of the economy. It prevents those affected from buying a new home or a new car which stifles the economy.
Make your opinion known and this will help to make a difference.
PHOTO CREDITS: Getty Images
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