Why College Education is Expensive
Why College Education is Expensive
To begin with, almost all
well-paying jobs in the society require that a person possesses a college
qualification to earn properly and engage in critical work conditions.
Expressly, the law of demand and supply would kick in meaning that the demand
would directly relate to the price. As the demand for college education rises
so will the price of the cost of acquiring the same. As such the Colleges would
have an unlimited disposition and pool or reasons to increase their charges due
to the circumstantial uses and needs or benefits that the college education
would earn to the students (Bennett, William and Wilezol 8). In retrospect, it
would be easier for the institutions of higher learning to increase their fees
and costs or charges because the law of demand and supply would favor them
regarding the price. In the conventional standards, quality services in the
educational realm would imply that the colleges would have to expand their
infrastructures and general learning environment and make them capable of
producing market-ready students.
Secondly, the general economic
conditions have made it costly or expensive to acquire anything in the modern
society. The cost of living has since increased including college education. It
is imperative to note and mention that the college education is an entire concept
that includes the cost of tuition, books, accommodation and curricular
activities (Hout 380). The approximate cost of the other circumstantial tenets
such as the books and meals, for instance, have intuitively increased as the
global economic conditions have also dipped. Thus, the collective cost of
college education is a function of many other circumstances and incidences that
have since increased in the recent past. In principle, it is safe to mention
that the building blocks and important elements have increased and so they
would influence the cost of college education.
Instinctively, colleges also employ
qualified lecturers and professors who require a high salary and wages. In all
aspects and fairness, the average salary of a fully trained professor has since
increased as part of the global income increment schedules that have occurred.
It has forced the colleges to increase their revenue pools and status so as to
cover the increase in the income demands of the employees. The only logical
point and area of seeking such income would be to increase the college
education cost for the students and collect more money to allow the schools to
offset the huge financial deficit that may face them.
Similarly, colleges have expanded
their pool of activities that not only range in the academic spectrum but also
life skills and co-curricular activities or ventures. It is safe to mention
that in the modern day and society, students are exposed to a higher degree of
holistic training and education (Selingo 21). For instance, sport is a
mandatory part of any college, and it is the students who cover the cost of
such a training program. Relatedly, the willing and talented students would
also have the opportunity to earn from sports. It goes without saying that
colleges are the feeder channels for professional sports such as basketball,
football, and baseballs. To increase the impetus and pool of expertise of the
students, it would be fair to hire professional coaches and trainers. Hence, it
is proper to mention that the students and the society as a whole would
experience an increase in the cost of College because of the increased reach
and pool of services.
In the same line of thought and
argument, the colleges have introduced a raft of measures and programs to
ensure that education is a separationist tool. It is to say that the college
and education systems are part of the wider scheme in the society that
separates one group of people from the other. Thus, only the financial endowed
persons in the society would have the ability, capacity, and spectrum to
acquire it. In retrospect, all people in the human society cannot have the same
qualifications, skills, and abilities. As such, there must be some
separationist mechanism that differentiates the skilled and manual laborers.
Hence, raising the college fee and cost of learning would be a natural
selection that separates one group of people from the next.
Additionally, some of the best
colleges in the world are privately owned. In the natural sense and aspect,
private entities have their sole prerogative and discretion in determining
their pricing and cost. They are thus under the care and control of business
minds and dealers who would dictate their costs and prices. In respect, all
rational businesses have an impetus and degree of control of their operations.
Hence, they would have a free hand in leveling their prices and costs. Students
form the representation of their client base. It is only when the prospective
clients pay a higher fee that the institution will make profits and increase
their revenue bases. Implicitly, the privatization of college education has
exposed the institutions to commercialize education and charge fees that appeal