« »

Wednesday, October 30, 2013

Insight in to the cost of college education

By Maxine Wells

A college education used to be the path to a secure financial future. However, for current students, finding ways to finance college has become a much greater challenge than it has been for generations past. Not only have college costs risen over 500 percent in 60 years, the current economy prevents the average household from pulling together the necessary savings for higher education pursuits. The unprecedented growth in tuition will result in many households seeking out financial assistance. 

Student loans are often the only assistance available to help pay for an undergraduate degree. However, with major funding cuts happening in the world of education, traditional financial assistance avenues may not be the most reliable. Crowdfunding is an unusual and viable fundraising alternative that holds some potential as financial support in the future.

With an uncertain economy and an unknowable future, student loans quickly can become just another financial burden to shoulder. This Consolidated Credit infographic sheds some light on just how much the cost of education has grown over the years and how much debt to expect from student loans. Not only will the average student be saddled with years of debt, but also they would be faced with the challenge of coming up hundreds of thousands of dollars for their children’s education. Gain some insight on past, current and future cost of education below.

Government funding of education started to decline in the 1980s

1 comment:

  1. Years ago when our grandparents were eager to get education their government did everything possible to make it accessible for crowds as they understood the importance of thinking people and busy children. Nowadays politicians speak a lot about the necessity of learning and that our children is the future if the country however education remains only a dream for many families as it gets more and more expensive each year. Moreover schoolchildren don`t usually get proper knowledge and surely need some additional assistance (here http://www.helponessay.com/ you can get help in writing essays) I advise all parents to start saving money when their children just go to the kindergarten, learn about different programs and be very attentive choosing the college.