College Leaves The Whole World Broke
Posted on June 30th, 2006
It can't be denied that college is getting more and more
expensive. Often it seems that financial resources are getting more and more scarce. The United States has always led the way with inflated college costs, but now a dreaded sort of equality is taking place: a college education is becoming increasingly expensive in other parts of the world, too.
Talk about the real world. U.S. university graduates enter the job market with new degrees, all the confidence of youth and Student Loan
debts averaging $19,200 - a 58 percent inflation- adjusted increase from ten years ago, according to figures compiled by the State Public Interest Research Group, a Washington-based independent research organization.
Most university graduates outside the United States have nothing of the financial burden of their American counterparts - yet. But countries around the globe, from Britain to Kenya to New Zealand to Mexico, are embracing what academics call "cost sharing" or "revenue diversification" to shift education finance away from government. That means more students and their parents are assuming more of the cost of higher education - and that is leading economists and educators to wonder about the long-term effects on personal wealth and
advancement.
What do you think? Do universities have the right to charge so much? Do you ever feel like you're paying more than your education is worth?
(Picture Source: Consumers Union)
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