To save for your future and to support your family, you need a job that pays well. And to secure a job that pays well, obviously, you need a job degree. However, in the recent past, there has been a huge hike in the total cost of a college education. Tuition fees, books and, room and board expenses, has also substantially grown out of the budget of an average American family. A study revealed that the tuition fees at universities and colleges in the United States have witnessed a massive hike of 1,120% from 1978 to 2012. But why have the college expenses been skyrocketing for such a long period of time? Here are the top reasons why universities are highly expensive:
Why Universities are Highly Expensive:
Luxurious Lifestyle
Most of modern colleges offer a luxurious lifestyle for the students. An architecturally appealing modern campus offers an organized infrastructural facility for the students. With shared study areas and bathrooms, the layouts are very often modeled after suite-styled luxurious resorts. All these campuses are Wi-Fi enabled, which provides the students with fast access to the internet.
Dining Facilities
The dining facilities offered by today’s universities have also greatly improved from the past decades. The cafeterias have carefully generated a health-conscious and diverse diet for the students. Many campus dining facilities also feature international flavors for their students.
Professional and Athletic Grade Fitness Facilities
Professional and athletic grade fitness facilities offered by universities are also expensive. Other top-notch infrastructural facilities such as lecture halls that are fully wired, and art labs, also add up to the expenses.
College Education
The college education offered in 21st century has undergone evolution on a large scale. The concept of college education has grown beyond just taking classes in college and securing a degree. College education has evolved into an integral experience for the students. This is backed up by student support facilities, career support, psychological support facilities and heightened campus security.
Communication and Marketing Staff
Hiring faculty such as lecturers, deans, and associate deans contribute to the high cost of education. Communication and marketing staff are also hired to maintain a favorable public image for the establishment. The level of expectations of the parents and students have also risen, and many are ready to pay for a full-fledged campus experience.
College Ranking
US News and World Report publishes an annual ranking list, which is crucial for every college. As a college ranking moves up, it witnesses significant rise in the number of applications as well. A higher number of applications allows the colleges to be more selective in recruiting the students. This results in better overall SAT scores secured by the college. Ultimately this allows the college to allocate more capital for student services and lesser on financial aid.
Subsidies
The state government often provide subsidies for its residents, to make college education more affordable and accessible. However, most of these subsidies dry up, due to the impact of the Great Recession. The colleges are very often forced to take demanding actions such as cutting down various expenses, or dialing up the tuition fees, to make sure that they do not fall behind in the competition.
