Why does college cost so much
The concept of education has undergone a complete metamorphosis in the times of today. It is quite astonishing to note that college education lands up a huge percentage of the population in debts; such huge is the amount of expenditure associated with higher degree of education in the present times. Education has been commoditized, there is no second opinion solicited to ascertain this fact.
With more and more private players entering the education economy, the scales of tuition fees are only going upwards, and the consumers are left at the mercy of the money mongers all this while. Private institutions are known to invest fortunes in erecting impressive educational infrastructures and developing links with the corporate world, or the sectors relevant to the courses being offered. The only way to recover the investments and turn out proportionate profits is to charge towering fees from the interested students, who find it hard to let go of an opportunity to take the bridge to a lucrative career.
Not only private institutes, but also government sponsored facilities are getting more and more inaccessible to the ‘not so well to do’ candidates. The truth is that the governments do not divest the suitable amount in these institutes, and the administrators have no option but to hike the fees in order to sustain the institution. Though the reasons are in stark contrast to those valid for private institutes, but the consumers are the sufferers in either of the situations.
The demand and supply rule has also contributed to the unnaturally high costs of college education. It is hard to find a family that desires anything short of simply the best education for its children. And considering the fact that the higher education is the most important phase for those in pursuit of a professional career, there is no dearth of demand for college education. Consequently, there is no inhibition in the minds of those behind the scenes, as regards the formulation of fees policies. The mad rush of education loans also contributes to the blatant gouging of money from consumers.