College symbolizes advanced knowledge, determination, work ethic, and success. These messages have been promoted through family systems and media in hopes to cause younger generations to value the beneficial possibilities of higher education. College institutions started off economically skewed, initially granting only those who were rich and male to attend a university. Those who worked and valued the college degree went to pursue a more lucrative and successful career, in theory. Previous job markets in past generations, such as the Baby Boomers, had a 33% graduation rate from an advanced academic institution, yet are largely a financially successful generation. Requirements in the job market were hardly present at the time, allowing individuals to work in a specific field and acquire job experience. Job experience promotes efficiency, allowing for potential pay raises or even job promotions, illustrating core principles of a capitalistic society. Hard work ethic, equal opportunity, and material comfort are all components of “the American Dream.”
The year is 2016: is this "American Dream” still alive and running? College is seen as a major future investment in the United States. Between 2000 and 2011, the enrollment of students under the age of 25 have increased by 35%. Students are valuing college more than ever before. Parallel to this trend, enrollment for students over the age of 25 has increased by 41% from the same years.. Although these percentages are positive in the contemporary view of college, increased enrollment rates characterize the skyrocketing degree requirements that influence and perpetuate the job market. Acquiring a job takes much longer than ever before in recorded history. Companies who are looking for productive workers are now increasing the education requirements on jobs and apprenticeships that formerly required a high school education or no educational background at all. Statistical analyses and research supports this claim: 84% of employers believe there is at least one positive impact of hiring a college graduate among the following qualities: innovation, employee retention, communication, productivity, and total revenue. Worker and employer perceptions of education are coherently advocating for a more educated populace. The National Center for Education Statistics (NCES) estimates a 13% and 14% increase in college enrollment in 2020 for both students under and over the age of 25. As opposed to past generations, it is evident that a college degree is exponentially becoming a necessary commodity to have. More importantly, acquiring a degree simply creates equality with the rest of the population who are already working towards receiving a college degree.
Under the circumstances of the job market, academic institutions no longer enhance society through highly educated citizens: the price tag of a bachelor’s degree is creating income inequality among the poor, middle, and even upper-middle classes. The fundamental principles of college are still enriched with maladaptive capitalist methodologies, prohibiting the ever-expanding lower and middle-class individuals the ability to access college without collecting massive debt, or enrolling at all. Various categories of institutions have been implemented in attempts to balance the various income inequalities, ultimately to create equality and homeostasis of education throughout the nation. These institutions include community colleges and public/state universities. Theoretically, an individual with less income can still receive an education and be treated as an equally useful employee in the market. However, presentation of statistical data reveals financial increases in tuition in literally all types of academic institutions on a yearly basis.
The price of college is grossly dismissing brilliant minds who happen to be economically impoverished. Colleges promote financial aid and scholarship programs to help the lower and middle-classes. However, these programs fail to help the majority of individuals who require assistance. These programs assume that they are financially stable enough to attempt to receive funding. It’s not possible to write an essay and complete a series of web-interviews without a laptop computer. Additionally, scholarships are highly competitive in nature, and often times require the receiver to already be accepted into a college, at minimum. If an impoverished student with the abilities to go to college already know beforehand the financial implications of going to college, how would they be able to afford it? The chances of receiving a full ride on scholarships are overestimated, especially considering the costs of prestigious colleges. The amount of scholarship money also relies on donations and is an inferior method of funding the impoverished. Even if there was theoretically enough money to help every student in financial burden, the constraints of discovering the scholarships online in accordance to the highly competitive process would still create income inequality, leading to educational disparities.
Similarly to scholarships, FAFSA is the most widely used economic support system in the United States. It relies on taxes and college endowments to pay for the student in hopes to correct financial inequalities. FAFSA is considered to be one of the most, if not the most effective way to get financially unequal students to college. Sadly, even the most used program has a multitude of structural issues. Firstly, the money involved with FAFSA is open to everyone who is enrolled in the process. The minute the clock turns to midnight on January first, the money is first come, first serve. From a student’s perspective (myself included), to receive full aid, numerous variables have to be aligned properly. 1) the parents tax information from the previous year has to exist. 2) The amount of aid potentially offered is based off a need-based system, which is arbitrary in nature. A difference of 5,000 dollars in income can result in a student receiving 10,000 less dollars in aid. 3) It is up to the college to decide whether or not to give a grant based on financial need. 4) For every minute the impoverished student doesn’t fill out the array of forms, the less money they can receive. 5) The student has to pick specific colleges and can is only eligible for aid with the colleges he/she chooses. 6) With no guarantee that the student will even get into a college, let alone receive full funding.
The year is 2016. Tuition is ever-expanding and theorized to increase on a yearly basis, following current market trends from previous years.It’s clear tuition rates are too high and need to stop climbing. Financial inequalities are plaguing the nation, all in attempts to receive a degree that ironically creates minimal equality among the working class. Increasingly high degree requirements are not stopping the poor and middle-class from receiving education. Consequent of academic pursuits, the lower and middle classes, rather than becoming rewarded with new potential upon completion of college, are immersed in college loans and are considered average assets to potential employers.Through this highly competitive system, capitalism is nigh indestructible as the machine keeps perpetually moving towards further income and educational inequality.
