Education benefits are expensive and often aren’t worth the money spent.
Here are five reasons why we should not be spending all our savings on education.
We’re paying for our kids to go to college.
The American Council on Education has released a report that shows that the cost of tuition at public colleges and universities has doubled over the last decade.
The number of students taking courses online is increasing and tuition is rising.
The average cost of attending college has tripled over the past decade.
We are paying for more of our children to go on to college than ever before.
More and more Americans are choosing to attend college over jobs and other financial commitments.
A 2014 report by the Pew Research Center found that over 60 percent of the U.S. population was considering attending college in 2022, up from 40 percent in 2012.
We aren’t paying for it.
The Department of Education reported in February that tuition and fees for college graduates in 2021 were $3,857.
The cost of attendance at a four-year public institution rose by nearly $300 per student to $7,948 in 2022.
We don’t know what we’ll be paying.
As the Education Department’s Office of Civil Rights recently told the Senate, there are no official figures on how much students will pay.
A 2016 study by the Government Accountability Office, however, found that student loan debt exceeded $1.6 trillion at the end of the last fiscal year, more than the national debt.
We’ll get better access to college in the future.
More than half of students in the United States are attending college by 2020, and many are graduating in the 2020s.
A new report from the College Board, a nonprofit education company, estimates that over half of all college students are now enrolled in a four year college or university by 2021.
The report predicts that as the economy improves and as the cost and availability of higher education grows, enrollment will grow.