Most Americans believe that a college education is out of their price range; 77% of American adults believe that it would be challenging for someone in their situation to obtain a college education.
Compared to 73% of males, 82% of women stated it would be difficult to afford a college education.
Almost half of the Black and Hispanic adults said it would be hard to pay for college.
The affordability of paying for university education is a concern for aspirant college students and their parents more frequently, and the rising expense of attending college is being closely examined as millions more people suffer under the weight of mounting student loan debt.
At a public, in-state University, the average annual tuition is around $10,000, and between 2009 and 2015, the average student loan debt for Americans increased by more than $5,500. Furthermore, the “sticker price” has increased significantly over the previous 20 years, despite the fact that tuition rates have actually decreased recently in real dollars.
According to a recent Morning Consult survey, three-quarters of Americans believe a college degree is out of reach for most people, with high proportions among women and minorities. This finding comes as prospective students weigh whether taking out loans to pay for a degree is worthwhile. This, however, opens directions for graduate degree programs that are less costly across the USA.
Need for Higher Education?
Making the option to go to college or not might be challenging. It’s no secret that college expenses are rising, which may force students to borrow money or apply for grants. In America, the average cost of a year of college is currently $35,720 per student, per Educationdata.org research. Thanks to an average annual growth rate of 6.8%, that number has tripled in just 20 years.
However, in the long run, college expenses might be worthwhile. In 2021 and 2022, persons with a bachelor’s degree earned an average of $1,310 per week, while those with only a high school certificate made an average of $780 per week, according to data from the Bureau of Labor Statistics (BLS). The earning potential for those with a graduate degree can soon increase along with the disparity in median wages.
Moreover, there are strategies to lower the cost of attending college. There are several excellent, reasonably priced universities in America to take into consideration, and students can also apply for grants and scholarships, which they normally do not have to pay back. Start with the top inexpensive universities in the United States, which are listed below, if you’re trying to save money on college expenses.
- Location of University of Washington Portland and TUITION \s$9765
- Brooklyn, New York CUNY Brooklyn College, and TUITION \s$4211
- Location of Purdue University West Lafayette, Indiana and TUITION \s$11898
- Location of University of Florida FL Gainesville and TUITION \s$11313
- Location of Oklahoma State University Stillwater, OK, and TUITION \s$6707
- Location of University of North Carolina at Chapel Hill NC’s Chapel Hill and TUITION \s$11649
- Long Beach, California is home to California State University-Long Beach and TUITION \s$9477
- Los Angeles, California is home to California State University, Los Angeles, and TUITION \s$4403
- Bloomington, Indiana is home to Indiana University-Bloomington and TUITION \s$11931
- Location of the University of Illinois at Chicago IL Chicago and TUITION \s$12248
Professional Career of College graduates
The Bureau of Labor Statistics (BLS) reports that professionals with accredited degree programs make over 30% more money than those with a two-year associate degree. 2020 saw a lower unemployment rate for professionals with a bachelor’s degree (5.5%) than for those with an associate degree (7.1%), some college but no degree (8.3%), and a high school diploma (9.0%).
The BLS states that in addition to education, where you work might affect your compensation. Washington, D.C. bachelor’s degree holders make about 17% more money than their Virginian counterparts. Salary is also impacted by experience level. For instance, according to Pascale, entry-level architects make much less money ($49,000) than those with a decade of experience ($90,000).
