I was scrolling on Facebook and stumbled across this chart. The chart shows, as you will see down below, popular Michigan colleges' tuition rates from 2003 to 2015, all of which have risen over 90%. As a college student paying the 2015 rate, I am probably one of few people to not be surprised or upset after seeing this. College, for most and myself, was a choice. I knew what I was getting myself into, as well as, what I was paying. In my eyes, it was high risk, but higher reward. My Facebook friends that shared this were appalled to say the least, which I am a little uncertain as to why. They know that the price of milk, gas, cars, and other essentials have gone up over the last couple of years, why shouldn't education?
The value of education is much more of value today than it was even ten years ago, thus the rise in tuition. A good percent of the job market today will require some sort of college degree or education past high school. That being said, if most jobs need a higher education, then more people will need to go to college, which makes the demand for a degree high, increasing tuition prices.
With the rising number of college applicants, colleges are needing funding for new dorms, classrooms, professors, and expanding programs. If they want their student enrollment numbers to rise, they need places to house these students. Likewise, more students mean more professors, which means more money toward payroll. And where other to get that money than from students. Additionally, job markets are changing and adding new jobs and positions, creating new fields of study that colleges are trying to compensate for add to their departments.
Sure, $45,000 is a lot, it could be a down payment on a house, or nice new car that came out this year, or even a trip to every continent, but you're getting an education. It may seem like just a piece of paper but that education will soon after provided you with a career that can eventually provide a house and a car and a multiple trips to other countries. Pretty much what I'm trying to say is that paying x amount of dollars for a college degree is worth it, it'll pay off, and you'll pay your student loans off eventually!
