College. After struggling through thirteen years of public school, taking (and sometimes retaking) the ACT, and applying to a dozen universities, that acceptance letter comes in the mail. Students should feel a sense of accomplishment and relief, but instead all they can worry about is the growing price tag that comes with college— causing some to forgo the experience altogether.
We at the Tom Tom believe that college should be made more affordable. All students should have access to post-secondary education, regardless of economic background. That is not to say that college is the right path for everyone. Other options such as entrepreneurship, military service, and trade school can be great opportunities for young people. However, if a student chooses not to go to college, it should be because it’s not the right fit for them, not because they can’t afford it.
The cost of college, for many young people, may make it appear to be not worth it. That’s typically not true– according to The U.S. Social Security Administration, college graduates earn, on average, nearly $1 million more over their lifetimes than high school graduates. Still, a future saddled with thousands of dollars of debt doesn’t look appealing to the average high school student. The idea that student debt has increased is real: according to The Motley Fool, student loan debt has jumped by 270% since 2006. Yikes. As a society, we must take steps to make college more accessible so that students can get the education they need without the debt they don’t.
Education is crucial to form an innovative, intelligent society. A college degree is now considered a necessity for many jobs. According to a recent study by McKinsey & Company, 86% of new jobs projected to be created before 2030 will require postsecondary education. So why are we limiting who can access this education?
Students shouldn’t need to be wealthy to embark on a pathway to a better job and a better future. However, when college costs tens of thousands of dollars a year, the dream of higher education seems out of reach for many. Thousands of students each year are forced to stop their education at high school due to financial burdens. This prevents them from getting higher paying jobs and keeps them trapped in a cycle of poverty. If the path towards prosperity is barred by skyrocketing costs, then how are lower-income youth supposed to move forward in life? The very idea that higher education– which allows for economic mobility– requires a high economic status to access is completely counter intuitive. Everyone deserves the right to an education that can better themselves and their futures.
However, in the United States, this isn’t the reality. Students who are privileged enough to pursue postsecondary education often remain saddled with debt for decades. According to the Education Data Initiative, college in the U.S. can cost anywhere from $27,146 to $58,628 per year. But in France? You can get a college degree for the low, low price of $186 per year. The French government pays for much of the cost of college education, allowing French students to pursue college education without financial burden. This overseas example proves that college doesn’t have to be ridiculously expensive. Things can change.
But how? Well, the government can invest more money into college education, more specifically by increasing financial aid for lower-income students. Pell Grants, for example, a type of government-provided financial aid for low-income college students, could be expanded and updated to keep up with inflation. Colleges should do their part, too, by expanding scholarships and financial aid for their students, as well as being transparent about their financial aid practices. High schools should focus on providing information about college and financial aid to lower-income students.
We at the Tom Tom believe that making college more accessible and affordable will improve our nation. When people aren’t worried about whether or not they’ll be in debt for the rest of their lives, they’ll be able to explore their interests and work hard in school. They will be able to learn, grow, and be propelled into success. Isn’t that what college promises us– a better future? Not a future with tens of thousands of dollars in debt— a future with freedom, knowledge, and economic success.
