College Tuition Must Go Down

College tuition must go down. The amount of money people have to pay for a college education has gotten to a ridiculous level. It is completely unsustainable. Some college’s cost over $80,000 a year, with costs still rising. When you have 1 year of college costing more than the average American’s salary, you know that there is a problem.

How is it possible that college education is this expensive? Unfortunately, because a college education is so important, people are willing to pay the exorbitant prices. And colleges are taking advantage of it. They are using this to pay for their administrative bloat and increased campus amenities.

Unfortunately, one thing that was supposed to help with college costs is the very thing driving them up. The availability of federal student aids and loans is driving tuition through the roof. The rising cost of tuition is saddling the younger generation with debt that can take decades to get out of.

Imagine you go to a college that costs $45,000 a year. Not even close to the most expensive college. In fact, not that much more expensive than the average. Imagine you come from a middle to upper middle class family with a combined income of $130,000. You have a couple siblings, and your parents are paying off their mortgage. You do not qualify for financial aid. Your parents can afford to pay $20,000 a year for your college education.

Your parents have done nothing wrong. In fact, they have done quite well for themselves. Yet, you graduate college with $100,000 in debt. If you are lucky, you can live with your parents after graduating and put more of your income towards paying off your college debt.

Let’s say that your first job after college nets you $50,000 a year after taxes. For someone right out of college, that is not bad at all. You aren’t doing bad for yourself. Yet, you still will be in debt for many years. And if you have to live on your own? Even more difficult.

Even if you find roommates, you could be paying $1300 a month. When you add everything up; rent, car, expenses, insurance etc, maybe you can save $10,000 a year. All of that goes towards repaying your college debt. But at that rate? You are going to be paying off your college debt for decades. And this all has you living paycheck to paycheck, as you have no more left to save.

Forget the fact that in this situation you are paying debt for decades. Forget the fact that if you lose your job at any time, you can’t pay your rent. You are saving no money at a time when you need to be saving more than ever if you ever want to buy a home. Housing prices are going through the roof. The average house costs around $400,000, with it much higher in many parts of the country. In the Bay Area, house prices average well over $1 million.

But even generously, imagine a house costing $600,000. You would ideally put at least 15% down. That is a down payment of $90,000. You’d need to have $90,000 saved up just to make the down payment, and you’d have no savings left after. You are struggling to save at all, and are still in debt. How could you possibly have $90,000 saved?

Don’t even mention the fact that after making such a down payment, you’ll have to make the monthly mortgage payments. This is why, for so many, home ownership is a pipe dream. Ok, you might say. College tuition is ridiculous. So why not forgo college?

It is true that you could go to a trade school. You could become a plumber or a mechanic. But the majority of people are not going to. And a big problem is that for most jobs today, a college degree is a minimum requirement. No, a college degree doesn’t guarantee you will get a job. It just means you won’t immediately be rejected. So for most people, there is not option other than to go to college.

It’s now gotten to a point where a college degree is the new high school diploma. Thus, it is necessary for people to go to graduate school to improve their career prospects. You know what that means? Even more debt. $100,000 in debt? Try $200,000 in debt. How can you build a life with that albatross around your neck?

College tuition must go down. There is literally no other option. If it doesn’t, we will have generations of Americans who have no hope of achieving the life that their parents achieved. Thus, the government must get involved in limiting the costs of college.

What does that entail? It’s complicated. But our leaders, both in government and education, must get serious about doing something. Anything else would be malpractice, and completely failing the younger generations. Maybe there will be a revolt against the need for a college education. That might be beneficial in preventing the indoctrination of young people into left wing ideology. But it also might be the only way for young people to have a shot at the American Dream.

College tuition must go down. There is not simple or quick solution to make this happen. But it better start being addressed now before it’s too late. America’s future depends on it.