How to lower College Tuition Cost – Infographic

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In 1980 the average 4 year college tuition (when you take both public and private universities into consideration) was $23,000. In 1995 it jumped to $44,000. Would you like to take a guess at how much the average 4 year college tuition is now?

It’s $70,000. Yes $70,000 which means that most college students have to borrow money. The average debt per student is now $27,000. $27,000 is a lot of money. $27,000 can buy you a new Ford F150 truck. It can buy you 30, 40, maybe 50 pairs of Jimmy Choo shoes.

So with that said, I am going to share with you an infographic on how we as a society can lower college tuition cost.  

5 ways to lower the cost of college tuition

5 ways to lower the cost of college tuition

The first way to lower college tuition cost is to allow for Dual Enrollment. How about allowing students to be simultaneously accepted by a community college and a four year public institution of higher education and, and when they complete their associate degree from the community college, they are automatically enrolled in the four-year institution? This type of program can reduce college education cost anywhere from 30 to 50%.

Second idea, what about establishing a three-year Bachelor’s degree? This would not only increase graduation rates, but also improve college education cost.  

As for number three, anyone ever hear about the study to determine how long a shrimp can run on a treadmill? Yes, there was a study by University professors to determine how long a shrimp can run on a treadmill. So number 3 is simply get rid of silly research studies.

Number 4, wouldn’t it be nice to keep you salary and only have to work two days a week? That would be like living in Alice in Wonderland, but for many professor, it is now common to teach only two classes per semester. So number four is to increase teacher loads.

Lastly, move more Classes Online – Online learning will become to education what the forward pass was to football. Research shows that students who did online courses learn just as well as those who took conventional courses. Online courses or hybrid courses could cost half what conventional classes do because fewer teachers are needed.

So in conclusion, it would be folly to imagine the cost of a 4 year college tuition to ever go down or the starting annual salary of a college grad to skyrocket, but its not too hard to image any of the ideas I mentioned now like getting rid of the silly research studies or increasing teachers workload would it? Such ideas should strongly be considered, if not, we as a society run the risk of having our future generation start to perceive college education as simply being not worth it because of the enormous debt they will have to incur and the fact that such debt will make it harder for them to buy a home and possibly even start a family.

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3 thoughts on “How to lower College Tuition Cost – Infographic

  1. Interesting ideas to find savings for the college bill, but let me float a radical idea about market forces… Does it occur to anyone else that if there weren’t a ready market of buyers, i.e students, their parents, etc., that out-strips the capacity of desirable colleges to provide education, that these colleges would on their own find the need to address things like ridiculous tenure perks, Olympic-size pools in student rec centers, and football stadiums that contain small cities? Or that driving down the cost of college falsely encourages ultimately unqualified or unprepared people to assume massive debt?

    This excess demand for a college degree is fueled by decades of evidence that suggest a degree leads to a superior life. I would suggest that while this might have once been true, the flood of college graduates since the 1960s, paired with globalization/consolidation of entry-level graduate positions in many large companies, has transformed the situation into an employers’ market. This generation’s BA degree carries the weight of a high school diploma for the last generation. While depressing, it is true that it takes either an MBA from a respected school or demonstrated successful job experience to impress today’s quality employers. Simply forcing down the cost of a college degree would increase even further the number of unemployed graduates when today’s global companies are focused on increasing efficiency by reducing staffing, especially in “soft” science areas such as finance, human resources, marketing, IT management.

    Rather than trying to increase funding for college educations, what might be a better path to explore would be to have students borrow from their college, pledging re-payment based on future life earnings. If colleges have “skin in the game”, I think the students gain immediate benefits:
    1) Colleges would be much more sensitive to offering education programs that have a truly valuable future – at the same time, carving out courses that employers don’t value.
    2) Colleges would have an on-going stake in the effectiveness of their teaching staff and the on-going true learning by students.
    3) Colleges would be much more selective about the quality of students admitted.
    4) As repayment would be hinged to future employment, colleges might be more pro-active about structuring a degree to meet employer needs, and to aggressively partner with both their graduates and employer partners during job hunting.

    • Tim,

      I luv the quote – “I would suggest that while this might have once been true, the flood of college graduates since the 1960s, paired with globalization/consolidation of entry-level graduate positions in many large companies, has transformed the situation into an employers’ market. This generation’s BA degree carries the weight of a high school diploma for the last generation.”

      You are absolutely right. It’s depressing that so many college graduates are unable to find decent jobs and have such a huge burden of student loan debt to repay once they graduate. Now about your idea about colleges having ‘skin in the game’… this is a very interesting idea. Not only is it ground breaking, but it makes the Universities a bit accountable. Great idea Tim!

      Cheers,
      Eric

  2. This info graphic really depicts how to lower college tuition cost in an impressive way. I completely agree that Dual Enrollment is the main factor that can lower college tuition cost in a better way.

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