When you choose a private institution, you know that you ‘re going to have to pay a hefty fee for your education. But with the current economic crisis, the cost of college tuition is on the rise, making it increasingly difficult to afford prestigious universities and colleges year after year.
While the government is doing its best to cover all financial issues, there is still a big gap between the cost of college and how much students can actually pay for higher education.
A recent NY Times article stated that student loan debt will reach a trillion dollars this year, which could leave college graduates paying back loans until their own children are enrolling in school and paying their own loans.
If the government keeps cutting funding, schools like Fairfield will be forced to further reduce financial aid awards. Students will struggle even more not only to pay their tuition, but also to afford living expenses and eventually get out of debt. This is not helped by the recent Fairfield tuition increase and work study program grant cuts.
How are we supposed to pay off these large debts, especially when they are continually increasing?
Why do budget cuts always have to start with sacrificing education?
We understand that everyone has been affected by the need to cut back in tough economic times, but education ultimately benefits the economy in the long run.
To solve the current economic crisis, the government creates more job opportunities, so that once workers earn money they can reinvest it in the economy.
The same solution could apply to education – by investing more government funds in education, students can graduate with more substantial degrees and obtain better jobs. With better jobs, they feed their earrnings back into the economy, fueling further funding, and into the society as positively contributing citizens.
By cutting other areas of the budget rather than education, the government could help solve other problems in the long run. It’s time in invest in the future of the next generation rather than allocate money to less important costs today.
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