Monday, September 29, 2014
Is the Price Right?
College is an investment, or so they tell us. If a degree is the product of a college education, the increase in the demand will increase the price. Increasingly it is necessary to have a college education to enter into a career and more often then not to be a professional in any field it is necessary to have above an undergraduate degree. The demand for a college education for most jobs is acting in the same way that a price floor does; creating an excess of product, diplomas, and therefore shortages in jobs. This increase of students with qualifications at the undergraduate level with out jobs makes it near impossible to pay off student loans. Student loans are creating crippling debt that doesn't allow emerging adults to pursue their dreams. But is it possible to remove student loans from the university systems and have them remain viable? When every student enters college they assess their opportunity cost, an increasing number of people are choosing to take on that debt. By lowering the price, would a surplus of college graduates be created, depreciating the value of an undergraduate degree further and possibly increasing the time investment and monetary investment for additional years to have the same career?