How Student Loans Have Affected The Cost Of Tuition

In the 1980s a first-year college student could attend a public four-year university for $2,500 and a private university for a little over $5,000. Although, most of these universities are offering the same mediocre education from the last three decades; the cost of tuition has more than tripled for public universities and for private universities, it has gone up a staggering 85%. Canada holds an average educational cost of 5,974 and England follows with an estimated average cost of 5,288. In spite the tuition in the United States being more than twice that of its allies; the main problem contributing to the continuing rise of tuition are the billions of dollars owed in both federal and private student loans. Unfortunately, out of 15 countries the United States held the number one position when it came down to the cost of a higher education (including books, fees, room and board).With that being said, I will thoroughly explain in the following essay how student loans have affected th e cost of tuition, compare US tuition to other countries, and analyze the average spending budget for most universities that prove to influence the rise in tuition. At some point, it was said that the United States had a high credit card debt that could take a few decades to pay off. Now student loans are the talk of the Federal Reserve, with the amount of loans accumulating up to $829.785 billion, surpassing the infamous credit card debt. 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