College Costs Essay - 2225 Words

College Costs Introduction nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Its no secret that financing a college education is getting tougher. College costs have skyrocketed over the past decade or so, and theres no relief in sight. Average tuition at four-year colleges will increase 7 percent this school year, double the rate of inflation. Student aid is not increasing fast enough to plug the growing gap between tuition and family finances. In addition, there is a growing number of older students entering college today. These students have families that they need to support. I know, because I am a family man who has returned to school. I wish to finish my degree at the Rochester Institute of Technology. The only†¦show more content†¦Still, $15700 is a lot of dollars for an unemployed family man or woman with little or no income. The Cost Of Living Factor nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;Though the Cost Of Living is not directly related to tuition it is still a major player in the decision making process. Is it possible to maintain a family financial structure while paying for an education? The cost of a mortgage, or rent, and other bills that are associated with living adds up to many thousands of dollars per year. These costs in addition to what the tuition, books, and supplies total are expected, and have to be dealt with. nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;The financial burden alone can seem over-whelming to some. But let us consider what the total cost of living and attending a four year private institution are. The Bureau of Census statistics for the County of Monroe indicate quot;that the approximate average income for a family of four is $50964. The poverty level for a family of four is approximately $15455quot;. These are statistics calculated for the 1995 calendar year. No newer statistics were available. With these statistics in mind we can then determine the financial model we must follow. This model will determine what the total yearly outlay a family of four must shoulder in order to send a person to RIT. nbsp;nbsp;nbsp;nbsp;nbsp; The Financial BurdenShow MoreRelatedCost of College1120 Words   |  5 Pageswonderful thing called college. They told you that you have to go there to get an education before you can get a good job. Many kids have dreamed of going to college, and being able to get the job of their dreams. By putting in hard work and dedication to good grades in high school, you had high hopes that you would be able to get into an Ivy League school. The American dream of being able to go to college to get a degree is sliding away from many people due to rising costs. 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The United States should find a way to provide free tuition to all students who want an education. In our lives today, not everyone can financially afford to attend a four year universityRead MoreThe High Cost Of College1470 Words   |  6 Pagesfirst year of college. There is also an unspoken pressure that comes with the accomplishment. One cannot forget the financial troubles that a person is going to put themselves in the hopes of being able to attain a steady career. There are many challenges placed upon college students; college alone in its self is a challenge. Also, a family who is not well endowed does not have the luxury to be able to afford the high cost of college. The majority of the time, first generation college students comeRead MoreIs College Worth The Cost?2147 Words   |  9 PagesIs College Worth The Cost? College is a dream that almost every American wants to come true, however, with the extreme rise in the costs of tuition it is a dream that has quickly turned into a nightmare. â€Å"Tuition at a private university is now roughly three times as expensive as it was in 1974, costing an average of $31,000 a year; public tuition, at $9,000, has risen nearly four times,† (Davidson). â€Å"For the average American household that doesn t receive a lot of financial aid, higher education