College is so expensive. Most students who go to college take out loans because of the all the expenses.
The crushing weight of debt in college makes many people question if it’s worth it at all. But why is it so expensive in the first place?
The Three Kinds of Schools
The truth is, you can’t pin this issue on any one person or organization. The cost of tuition has been a problem that has built up for decades.
Every college has to charge certain costs for tuition in order to keep the school running. However, there are three different types of schools that vary in price based on who they’re funded by.
Public colleges receive their money from the government, so they tend to have a bit of a lower tuition rate. This means that your tax dollars are going towards keeping those institutions running.
These types of universities receive their funding from shareholders. For-profit colleges often have a record of high dropout and student debt.
The shareholders are often businesses or private companies looking to grow with the school. The presence of shareholders allows for a likelihood of biases and upcharges from the shareholders, so consider this before you apply.
Non-Profit programs are the ones that pour the money they receive back into education for the students. These schools may cost a little more but are often esteemed by employers because of their investment in student education.
Is it worth it?
No matter what kind of college you go to out of the three, tuition will be pricey. Schools are constantly pouring more and more money into marketing, recruiting, and building their campus. Luckily for you, financial aid often grows alongside the school to help you out a bit.
Make sure you determine the value of your education before you step too far into it. Because college is so expensive, do everything in your power to get grants and scholarships before signing loan agreements.