The cost of college education has been increasing over the past decades. It is not difficult for any person to analyze the past, present, and future of rising tuition costs. This creates the question, “why is the cost of college education increasing?” If you have a look at the tuition and fees from 1975 – 2016 you will notice that cost of education is on steady rise.
Many things have led to the constant increase in the cost of college education. There is no doubt that college education will be higher in the future than it is now. Here are some of the reasons why the cost of education has been increasing with each passing year;
Inflation is the main reason why the cost of college education has increased significantly over the past few years. The cost of books and other supplies that are needed in a college have forced the growth of money that students pay as tuition fees every year.
As long as the rate of inflation is increasing, the amount of money that students will be paying in the universities will always increase as well. Most things that colleges provide to their students are more expensive today than they used to be a few years ago.
2. Need to increase the earnings of college staff
The people working in universities demand an increase in salaries and allowances every year. This includes both the teaching and the non-teaching staff. Most of these people draw their salaries from the money that is paid by students.
Therefore, the only way that the colleges will be able to increase their wages and allowances is by asking parents to pay more for their children. Therefore, you should expect to pay more in the future as long as there is a need for the college employees to earn more.
3. Increasing cost of accommodation
The cost of housing for college students has been increasing over the years. This value increases the overall cost of college educations. The number of students going to college today is higher than the number of students that joined college ten years ago.
This has led to an increase in demand for accommodation facilities. Inflation also plays a role in the growth of the cost accommodation. When the cost of the things that students need while in the housing facilities increase, they will have to pay more to be accommodated.
Many other things have lead to the increase in the cost of college education. Considering the trends, you should expect to pay more in the future.