Among low-income college students there is a drop in attendance of higher education institutions. Terry Hartle of the American Council on Education believes that this trend is due in part to the cost. The "fast-rising sticker prices at many colleges [...] lead low-income students to deem higher education unaffordable"(Brown, 2). Many low-income students need steady income as soon as possible to support themselves and their family. Some may not be able to find the time and money to do both, and if they try they may risk losing far more than they started with. Attending a college can put a financial strain on an individual or their family when they’re trying to juggle daily expenses and an expense that they may deem a luxury or unnecessary.
Ted Mitchell, U.S. Under Secretary of Education, says "Historically as the economy improves and Americans get back to work, college enrollment declines"(Long, 1). Potential college students may see college as not worth spending time on because they can already get a job. If they already qualify for jobs then getting extra credentials wouldn't make sense. If they were considering not going college because of cost, their ability to acquire a job may push them towards not going. There has been a turbulent upward trend in the U.S. economy since the 2008 market crash. Due to bettering economic conditions some may view their potential for income sooner more important and possible then income they may receive in the future.
Finances remain to be the top challenge for students who want to attend a higher education institution. Mitchell continues to say, "Too many students and families feel that college is out of reach, never in our history has the opportunity to complete college mattered so much to Americans' life outcome"(Long, 2). The cost of college is rising and many students are, or feel like they are, being taken advantage of. The price is too high for many to see higher education as paying off. While the price rises, the importance of an educated citizenry rises with it.
The cost of college education today is so high that many young people are giving up their dream of going to college, while many others are graduating deeply in debt. —Sen. Bernie Sanders
Many policy makers on both sides of the aisles have strong opinions about affordability and student access to higher education. These competing ideas have caused stagnation, neglect, and more harm than good since the mid-1960s. “… [T]he Reagan administration changed the focus of student assistance from a grant-based system to a loan-based system.”(Palmadessa, 8). Grants, such as the Pell Grant, is money from the federal government awarded to students who show financial need and academic merit, but when loans were introduced students took out vast sums of money as the cost of higher education rose. This caused rising student debt across the nation and is one of the many reasons why students see college as too expensive. This policy is one of many that have caused great disparity among students today.
Image: Stocked Library Shelves
Image: College Savings Jar