What is decreasing in value, yet rising in price? This statement may see paradoxical at first, but one must only look at the American university system. College is rising in price due to frivolous spending on enhancing the college experience. The college degree itself is also in trouble due to its commonality. Those who favor the current American system claim that these extra experiences allow for a more well rounded college graduate, but they ignore the immense cost this has on the ability for many individuals to go to college. The college argument is one of affordability vs adventure.
Affordability seems far fetched when one simply looks at their tuition bill. An education at DU can cost upwards of $65,448 a year, which is about $2,000 more than it was only two years earlier. So, after a routine four years at the university, one can expect a $261,792 bill. This price is rapidly increasing due to the college experience. American colleges attempt to supply a full living and learning experience with multiple dining halls, dorms, clubs, activities and sports. Other countries like Britain, Germany and Luxembourg focus more on education rather than sports and activities, which allows them to offer a substantially lower tuition. More students in Europe commute to university, and college sports are not an all consuming force like they are in the US. These foreign students then are released into the workforce with a significantly lower amount of debt, which gives them an edge over our poor American graduates.
Well, now our poor college graduate is left with a diploma and $261,792 worth of debt. Sadly, no job is guaranteed at the end of those four years. In reality this diploma acts as a buy-in for the job market. In an interview with the Wall Street Journal, Bea Dewing, a data modeler for Walmart, claims that many employers see a college degree as a “basic requirement” to “even be considered for many professional jobs”. They are looking for experience, which ironically cannot be obtained without a job.
Some claim that experiences allow for a more well-rounded college graduate, but they ignore the effect the higher tuition has on students. According to the Bureau of Labor Statistics, the average college graduate makes around $61,000 a year. The majority of this paycheck goes towards the cost of living in the US, which means many graduates will take longer than fifteen years to pay off their debt. Those who support the American system believe that all those years living under crippling debt are worth it for a few fun experiences.
Unless you prefer years of debt, then affordability is more important than adventure. The immense cost of college combined with the decreasing value of a degree makes the foreign college system much more practical than the idealistic American one. American colleges should adopt the European system so that they can supply a more cost effective experience. Well, at least we can watch a few hockey games before the fun ends.
