By Jameel Murray
As I sat in excitement reading through my Syracuse University brochure, I sifted through the peaceful and relaxing visuals of the vibrant quads, the exuberant students, and the exciting environment of college life. Now that I am currently in my third year at Syracuse, I never remembered that brochure mentioning anything about extreme student debt. With college tuition consistently increasing and a tough economic situation, more and more students are forced to drop out or increase their borrowing. According to various sources, two thirds of college students are borrowing money to pay for college. On average, each student would graduate to face $ 23, 186 worth of unpaid student loans. Because of the sudden influx of student loan applications, award letters were delayed and caused a number of students to miss out on there first day of classes.
According to Daniel H. Weiss, the president at Lafayette University, it is utterly difficult to regulate the rise in college tuition. Weiss pleads that the rise in tuition is due to the funding of ongoing professor research and on- campus improvement. If colleges and universities can reduce funding in secondary priorities such as campus aesthetics and stadiums, college tuition may be affordable someday, and students would not have to spend the rest of their lives paying off student loans.
References
http://media.www.bsudailynews.com/media/storage/paper849/news/2009/09/09/News/Student.Loan.Applications.Increase.By.50.Percent.Cause.Delays-3766237.shtml
http://www.nytimes.com/2009/09/05/your-money/paying-for-college/05money.html?pagewanted=2&em
http://online.wsj.com/article/SB10001424052970204731804574388682129316614.html?mod=rss_com_mostcommentart
I feel that this is a very important issue that more people should pay attention to. There are increasingly larger amounts that have to be paid to attain a college education, but decreasing opportunities to help pay for one. If this downward cycle keeps going on, there may eventually be a decrease in the number of people who attend college. -Jonathan Tse
ReplyDeleteI agree that college aesthetics and stadiums are very costly to universities and add to the college tuition cost; however, I think that these are the things that differentiate high-end universities and attract more students. - Alma Zhumagulova
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