Tuesday, November 1, 2011

More than Just Grades on the Mind of College Students

College is costing more and more forcing students to get loans or just drop out of college. If more students are not getting college education this could substantially affect our country’s economy. If the drop out rate for college goes up that means there will be many empty job spots that require workers with a college education. There will be a low marginal product of labor, and the company’s output will decrease, which then lowers the GDP. If the GDP lowers then slowly the economy will start to contract. The video shows the cost of public and private, around $17,000 for public per year, and around $32,000-$34,000 for private. The costs are still rising for these schools, and the salaries of workers are not increasing as fast as college tuition. Which means some parents will not be able to save up enough money for their children to go to college. If the costs keep on going up many more people will not be able to obtain an education that is necessary for a good economic country.


-Kamil Heerji

1 comment:

Megan Riney said...

Especially with junior year going as fast as it is, the cost of college is on all of our minds. I agree that although our parents are used to paying a high amount of money for education because of the school we go to, it still is worrisome how much everything costs. I think colleges need to realize that the demand for higher learner is extremely high, and that lowering tuition costs could attract more students, and make up for the loss of decreasing tuition and perhaps increase revenue.