Ray Chen, Period 7, 9/27/2023

Ray Chen, Period 7, 09/27/23

College Tuition

    There is one major drawback of attending college which is the huge sum of debt

accumulated throughout the years of attending college. Each year the cost of tuition increases

making it hard for students to attend college without acquiring a huge sum of debt. After

attending college people assume you come out with a well-paying job but that is not the case for

most people.

    Even if you are fortunate enough to land a job with a $100k salary, you will end up with

around $70k after taxes. When you look at the average annual living expenses for a single

person it can amount to $45k or more leaving you with $25k of spending. If you attend a

prestigious university like Northeastern the tuition can reach up to $280k and trying to pay it off

in a short amount of time becomes a challenge. When you factor in interest rates it becomes

even more daunting as it can add several more years to the repayment period. This huge sum

of debt can limit your ability to achieve life goals such as buying a home and providing a

comfortable life for your family and yourself. It can also delay your retirement as you have to

work longer to pay off your debts.

    Some argue that you should attend more affordable colleges. However, cheaper

colleges have fewer resources along with fewer networking opportunities which can impact your

future career. Meanwhile, more prestigious colleges/universities possess a higher quality of

education that provides advanced facilities, courses, and unique learning experiences that can

enhance your education.

    The debate over college tuition continues to persist as the trade-offs are complex. On

one hand, it promises a better future with a higher paying job which drives many to pursue

higher education while the large sum of debts they acquire may not be worth it. As you are not

granted a job after graduating the demand for the job may also change rendering the salary of it

and causing it harder to find jobs in that field. The benefits and drawbacks of college education

remain a critical argument to society as a whole but I believe that we should lower the tuition

making it more affordable and accessible to the general public. It might even benefit society as a

whole if we were all educated.