College Bubble - 1380 Words

Amanda Perras Instructor David Long Eng 090-404 29 September, 2012 The College Bubble: The Combination Of Economic Downturn And Raising Of Tuition Rates Since we were young, we ve been told that with hard work and determination in high school we would one day make it to college. Once there, if we succeeded with graduating, we d get a degree which would lead to a well paying career that would allow us to invest in our future. With college debt now leading in the nation s debt with the growing amount of 830 million dollars, we are stuck asking. Why is the college-loan system failing? The College Bubble was a term used to explain the effect of the nation s current financial crisis and college tuition constantly on the rise.†¦show more content†¦The cost of college books has tripled in the last 10 years, costing an average of $200 dollars (NIA). College s will publish their own books, require students to buy them, then update or revise them every year to make the book obsolete causing students to have to by new one s every year and making the resale of them, no nexistent! College s will work with publishers and recieve kick backs for using books they publish. Adminstation for college also feel the advantage of higher tuition rates. The president of Yale salary has tripled from $591,709 in 2000, to 1.63 million in 2009.(5) With the average cost of graduating at a 4 year college at $27,293 a year, it is easy to see who is truly profitting from an attending and/or graduated student. Colleges are captializing of students in a poor economy and once out of college, their is no guarentee employment will be waiting. In 2008, American s lost over 10.4 trillion dollars in the financial crisis. Between 2008-2010 over 8.3 millions of jobs were lost. The government tried bailing out the country with a 4.6 trillion dollars and was only able to recover 1.1 million jobs, .9% percent of jobs. That is 4 million dollars in cost for each job recovered (NIA). Boyce Watkins, a finance professor at Syracuse University is quoted saying, [College] is certainly an investment. The question is whether or not you get your return on that investment in actual financial capital... [and] this blanketShow MoreRelatedOn The Coming Burst Of The College Bubble1321 Words   |  6 Pagesof many young college students capped and gowned, their hands clutching diplomas, their ears tuned into some wise person telling them â€Å"you are the future.† For many, deep in debt with few prospects that future looks pretty bleak. It’s enough to make some believe the siren song of Megan Mcardle. McArdles elucidates why the biggest problem in college is the price. â€Å"The rapid run-up in prices, at rates much higher than inflation;† The false connotations that a diploma are all college students neededRead MoreHow the College Bubble Will Pop1816 Words   |  8 Pagesnot ever fully achieved. However, even though education has been held on such a high pedestal, something has happened to the current day society which is making this essential step t hat has been worshipped for so long almost unattainable. The college bubble is on the verge of popping, and if people wait any longer, there will not be much anyone can do to make the perception of getting an education to be not as crucial in Americans everyday life in today’s society. 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AfterRead MoreI Am I The Only One Mentally Unprepared For English 088?868 Words   |  4 Pagesfrom the survival guide is that, this will not be easy. Everyone who has taken this class had faced challenges, struggles and obstacles in this course. I can honestly relate already to what I have read, it’s a challenge balancing work and school. In college when a assignment is given a due date, that s when it is to be handed in, no exception. Or, when a professor give s specific details on how a assignment has to be done. It must be done the way we were told, because they may not accept it. The struggleRead MoreMy Motivation For A Student865 Words   |  4 Pagesthat I am a high school senior, and it would make me a challenger student. This is good for college applications. Also, since I am taking college level courses, I can transfer the credits I earn here to the college I plan on attending next year. 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