How To Make Higher Education More Affordable

How To Make Higher Education More Affordable

How To Make Higher Education More Affordable 1how To Make Higher Edu

How To Make Higher Education More Affordable 1how To Make Higher Edu

HOW TO MAKE HIGHER EDUCATION MORE AFFORDABLE 1 HOW TO MAKE HIGHER EDUCATION MORE AFFORDABLE 2 How To Make Higher Education More Affordable Antonio Smith How To Make Higher Education More Affordable Making higher education affordable to many Americans should be the core goal of our education system. With regard to today’s structure of the economy, the fastest growing occupations require education and training beyond high school credentials. This implies opening doors to more Americans is imperative in ensuring our country’s economic prosperity. However, due to the rising tuition fees in the institutions of higher learning, more and more Americans mainly from poor families are unable to access higher education.

This has led to America losing its leading position in the world in college attainment for the youth. Converse to some years back, today, college offers a path to greater financial security, professional growth, and civic engagements. Hence, its attainment is vital for an individual success. However, despite this sordid fact, higher education has increasingly become out of reach of many as the tuition fees increased by over two fifty percent in the last three decades. It pains that almost half of those who joins collages drop outs of school due to financial problems.

It is the responsibility of the government and all stakeholders to ensure higher education is accessible to many especially the economically challenged. One solution to this problem is to subsidize tuition fees for students who come from poor families. Moreover, the government should ensure the students’ loan remains affordable by keeping the interests down as possible. As this paper deliberates, making higher education more affordable is invaluable in making most of Americans transit to middle class citizens. First aspect of this argument is that the government subsidizes tuition fees for students from poor backgrounds.

According to Obama’s 2016 fiscal year budget, there is a proposal to make the first two years of college free and universal. This would be of significant help to many students from poor backgrounds, as it would enable them secure an associate degree or certificate at no cost. Subsequently, the remaining two years might be affordable to many Americans. It can be argued however, that this approach may not guarantee better collage completion. This is mainly because some students may just take the free two years and not per sue the remaining period.

Moreover, making the two year free may lower the quality of training lower to limited resources to the college. However, despite the negative implication this policy may have, its benefits prevail as more and more Americans would have college qualifications. Second facet of this argument is that student loan to be made affordable. The interest rates pegged on the student loan should be reduced to encourage many students apply for the loan. Currently, an average student borrower graduates with nearly thirty thousand dollars in debt.

This is too much for a fresh graduate and it may discourage most of them from borrowing ay they might be unable to repay in the future. Lowering this debt may make more students from poor families to apply the loans hence having more college completion. On the contrary, it can be argued that, lowering the student loan is not the way to make higher education more affordable. This is because there are many loan defaulters and the government may end up dishing out free money. However, a policy in lowering interest on student loan will attract many students to college, as they would be able to meet even their basic needs.

To avert defaulting of loans, the government should ensure there enough opportunities for graduates where they can earn and start repaying their loans. Affordability of higher education in the United States is a thorny one even to the government. The rapid change in technology has demanded an increase in the level of knowledge from employees. This knowledge can only be obtained from institutions of higher learning. Therefore, making higher education more affordable is vital as it empowers most of the American youths to run their own country.

Paper For Above instruction

Higher education has always been a cornerstone for individual advancement and national economic growth. Yet, the soaring costs associated with obtaining a college degree have created significant barriers for many Americans, particularly those from economically disadvantaged backgrounds. Addressing the affordability of higher education is essential for fostering economic equality, promoting social mobility, and maintaining the country’s competitiveness on the global stage.

One of the primary strategies to make higher education more accessible is through increased government subsidies. The proposal to make the first two years of college free, as suggested in President Obama’s 2016 fiscal year budget, aims to eliminate financial barriers for students from low-income families. This policy could allow many students to earn an associate degree or certificate without the burden of tuition fees, thus opening pathways to further education and employment opportunities. However, critics argue that providing free two-year college may not guarantee higher completion rates, as some students may take advantage of the offer without continuing to complete a bachelor’s degree. Additionally, concerns regarding the potential decline in academic quality due to limited resources may arise if institutions do not adequately fund expanded programs.

Beyond subsidizing tuition, reforming student loan systems to make borrowing more affordable can significantly impact accessibility. Lower interest rates on student loans can reduce the debt burden for graduates, encouraging more students from low-income families to pursue higher education. Currently, graduates often exit college with substantial debt, averaging nearly $30,000, which can deter participation and stress post-graduation financial stability. Implementing policies to reduce interest rates and offer income-based repayment plans can mitigate these issues, making higher education a more feasible pathway for disadvantaged students.

Nevertheless, some argue that simply reducing borrowing costs may not be sufficient, as the problem of student loan default persists. To address this, the government must also create pathways for graduates to earn enough income to service their debts. Expanding job opportunities through vocational training, internships, and partnerships with industries ensures that students can quickly translate their education into viable careers. Moreover, improving the quality of education and aligning curricula with job market demands can help reduce unemployment rates among college graduates, thus enhancing the return on investment for higher education.

Furthermore, alternative funding models such as income-share agreements, where students pay a percentage of their future earnings, could provide flexible options aligned with individual financial circumstances. This approach aligns incentives for educational institutions to improve the quality and relevance of their programs, ensuring that students acquire skills that meet labor market needs.

In conclusion, making higher education more affordable requires a comprehensive approach that includes increased government funding, reform of student loan systems, and innovative financing options. These strategies not only facilitate access for low-income students but also ensure that higher education remains a catalyst for economic mobility and national prosperity. With collective efforts and policy reforms, the United States can restore its leadership in college attainment and build a more equitable society where every capable individual has the opportunity to succeed.

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