Topic > Market and Government Failures in Reducing College Costs

There was a time in America when college was based solely on merit, higher education, and the pursuit of the American dream to obtain a career and obtain social status to succeed in society. According to the Economist newspaper, rising tuition fees and rising student debt, along with decreasing financial and educational returns, are undermining at least the perception that college is a good investment. Now, due to the high costs of an average-good college, students are leaving college over $100,000 in debt and not getting their original dream job. Colleges have failed to stabilize tuition costs and have increased nearly triple since the 1980s in reference to The Economist newspaper. In our country, only 57% of Americans will be able to successfully complete their four-year college degree within six years as tuition costs remain high. Another failure that has allowed colleges to raise tuition is due to steep cuts by states that leave colleges to support themselves. The state has prioritized other concerns to invest in, according to the New York Times article, Obama Promises Action for College. When the state or federal government no longer steps forward in helping colleges and universities, what will be the future of our country? President Obama said the government would not continue to pour funds into an "undisciplined system." Field K. (2013, August 21) Obama promises to take action on college costs, but observers say his options are few. P.1, Washington Post. Additionally, the President has outlined how he will give up some federal aid to universities that fail to keep tuition growth low, and has proposed grants for states and universities that take cost-saving measures. The NY Times says the federal governor... mid-paper... will build our future career seekers. Heuve, V.K. (2012, May 1) Free college? We can afford it, The Washington Post. Works Cited Clingman, J. (2014, May 05). It's time to save students from $1 trillion in debt. UniversityWire Retrieved from http://search.proquest.com/docview/1520794349?accountid=27899Field K. (2013, August 21) Obama promises action on college costs, but observers say his options are few. P.1, The Washington PostGarrahan and John. (2014, May 02). Forgiving student loans won't solve the crisis. Daily Journal Retrieved from http://search.proquest.com/docview/1520399845?accountid=27899Heuve, V.K. (2012, May 1) Free College? We can afford it, The Washington PostMentzer and Robert. (2014, May 02). Look for ways to address the burden of student loan debt.Wausau Daily Herald Retrieved from http://search.proquest.com/docview/1520412288?accountid=27899