This week, the news dropped that tuition is set to increase for next year. It’s an announcement that we’ve all grown to anticipate, as tuition has increased for the past several years. In fact, there’s really not much you can count on anymore…except for an increase in tuition.
We at The Globe understand that college is an investment and that in the future, college may pay off for some people. We also understand the need for tuition increases from time to time, especially when the extra income is set to go toward things that will directly benefit students.
However, we also understand that the ability to make an investment in education is a privilege that not all people have.
Every potential college student’s situation is different. Some don’t have to pay a dime for their education due to scholarships or some wealthy relative. Some work out a payment plan with the university to cover the difference after receiving financial aid. Some are left in that awkward middle area, where FAFSA doesn’t grant them need-based aid, but there’s no real way for them to pay. Some of us have to go through the unsavory process of obtaining loans.
In order to acquire student loans, students either need their parents to apply as they have a credit score (be it good or bad), or they need a co-signer. Some students don’t have their parents’ blessing to obtain a loan. Some parents don’t have a good enough credit score to get approved. This is a surprisingly common issue, and what are students who are willing to make the investment to do if they simply cannot?
A nearly $700 or $900 increase per semester may not seem like a lot in the grand scheme of college costs. However, there are students who budget to the dollar, and this amount is enough to send them into the red.
We believe that while college is an investment, college is also a privilege. Students’ access to funds to pay for education should also be considered when tuition numbers are set.