It would take 20,000 days of skipping your morning Venti at Starbucks to afford one year at University of Miami. Twenty thousand days. Fifty-five years. More than half a life of saving money for only eight months of schooling. The cost of college in America has been skyrocketing over the past decade, targeting minorities, ripping through pockets, and leaving people drowning in debt.
According to College Board’s 2024 Report on college trends and student aid, there was a 2.7% increase in average tuition and fees for in-state students at a public four-year institution compared to 2023. Just two decades ago, average tuition was significantly cheaper than it is now. Between 2000 and 2022, average tuition and fees jumped by 60% ($9,204 to $14,688 per year). In the last twelve years, tuition and fees have risen by 13% ($12,979 to $14,688).
Additionally, some aid to help lower this cost does more harm than good. Unsubsidized loans, for instance, just bring people into debt. These types of loans gain interest over time, meaning you pay more than the amount you got originally when paying it off later on. For example, a $5,000 unsubsidized loan over four years at UMiami would end up being almost $7,000.
The groups that apply for the most loans are also prominently minorities. In fact, 17% of Black graduates borrow $50,000 or more for their undergraduate study, 9% of Asian, 7% of Hispanic, and 12% of graduates who are two or more races. There’s a clear trend between need and race which is not fair for those who want to go to college but can’t.
According to NASFAA’s report, 85% of adults who either dropped out or never enrolled in a higher education program after high school said an important reason why they weren’t currently enrolled is because of the cost of the degree or credential program.
I know that college is not for everyone. Not everyone wants or needs to get another education after high school. And that is perfectly okay. However, to the students who do want this future, they should be able to get it. This upwards climb in the cost of college in our country is ridiculous.
As the years progress, the pool of college students will decrease based on money. This is a concerning issue for America as newer generations are more pressured to be qualified for worldwide problems like climate change, global issues, and technological advancements.
In a country that glorifies itself as forerunners in success and education, we’re doing a great job of limiting it. All of our talk about “being the greatest country in the world” is completely thrown away when one looks at our education system. In the end, the choice to go to college should be a right to all—not just a privilege to those who can afford it.