The Cost of Higher Education Essay - 2987 Words

Introduction The increasing cost of higher education in the United States has been a continuing topic for debate in recent decades. American society emphasizes the importance of education after high school, yet the cost of undergraduate and advanced degrees continually rises at a greater rate than inflation. According to the Advisory Committee on Student Financial Assistance, cost factors prevent 48% of college-qualified high school graduates from pursuing further education (McKeon, 2004, p. 45). The current system requires the majority of students to accumulate extensive debt with the expectation that they gain lucrative post-graduate employment to repay their loans. The cost of higher education raises several ethical issues.†¦show more content†¦73) Since the mid 1980s, student fees have increased at a rate approximately double the rate of inflation (Hauptman, 1997, p. 24). A 1996 study by the General Accounting Office indicates a 234 percent increase in tuition and fees at public institutions and a 220 percent increase at private universities since 1980. This compares to an 80 percent increase in inflation since 1980 (Barry, 1998, p. 39). Families today spend a considerably larger percentage of their family income on college than families two decades ago. In 1979, the average four-year tuition at a public college consumed approximately 36 percent of a family’s annual income, while a private university consumed 84 percent. By 1994, the percentages jumped to 60 and 156 respectively (Reiland, 1996, p. 36). In addition to increases in tuition, an attitude shift in regard to paying for college contributes to the problem of financing higher education. Parents today are more likely to budget college expenses out of their annual income instead of from savings, and students are expected to contribute more to financing their own education than in the past (Kiesler, 1994, p. 67). Institutions of higher learning inShow MoreRelatedThe Cost of Higher Education754 Words   |  3 Pages For most high school seniors the cost of higher education may be a daily or at least. It is an even a concern in that a group of students, who all share a common, concern, around the same age, but with no reliable income. Each one is making a huge investment in their future, but in majority of cases adding more and more debt to their lifestyles. Though majority of students receive financial aid, the amount of debt which tuition builds is beyond stressing. For some students relying on their familyRead MoreThe Cost Of A Higher Education958 Words   |  4 PagesAll through life, most children are told that getting a higher education is the only way to have a successful life. Each year the cost of college rises, with that the total student debt rises as more students take out loans to help pay for his or her education. An astounding 1.2 trillion dollars is the United States student debt amount, and every year it continues to grow. (Investor’s Business, 2015, p. A14). According t o new reports, 27.3% of student loans are delinquent and that on average a student’sRead MoreThe Cost Of Higher Education1100 Words   |  5 PagesOver the past four decades, the costs of higher education has risen at a rate that surpasses the rate on inflation. Students, parents, and policymakers are concern about the rapid increase. The literature supports that there are multiple trends such as a decline in federal and state support as well as outdated policies and practices that have contributed to continued rise. Thelin (2015) analyzed Edwin Slosson’s 1910 anthology on Great American Universities, which provided data on fourteen prominentRead MoreThe Cost Of Higher Education898 Words   |  4 PagesThe cost of higher education College institutions offer a wide range of degrees and certificates, ranging from associate degrees to post-doctorates. A bachelors degree is another name for a 4-year degree, and such can be given in a wide variety of fields of study. According to the Digest of Education Statistics, during 2012 and 2013 more than 1,8 million bachelor degrees were conferred to college students in 34 different fields of study. So, prior to defining the cost of education, there is a needRead MoreThe Cost Of Higher Education Essay1296 Words   |  6 PagesKarla Fiscal-Zatarain Communications M01 Ben Bates 28 July 2015 The Cost of Higher Education General Purpose: To persuade. Specific Purpose: To persuade the audience that the cost of a higher education is too high and should be lowered to a much reasonable price. Central Idea: The cost to attend universities has skyrocketed over the past few decades and because of this, many students have chosen to skip out or put it off because they simply can’t afford it. Introduction: Attention Getter: On NovemberRead MoreHigher Education Costs And Education983 Words   |  4 Pages Higher Education Costs Education, there should be no class distinction. Education should be provided to all, irrespective of their economic, social or religious backgrounds. Education is defined as gaining knowledge which is funded by the government or charity organizations for awareness, charity, religious, or any other motives. It’s like an investment which helps to build the economy in the long run rather than a way of getting short-term inceptives from students.Read MoreThe Cost Of Higher Education Essay2074 Words   |  9 PagesHow to Combat the Cost of Rising Higher Education The cost of higher education is on the rise in the United States of America (USA). â€Å"Technology tends to unbundle stuff. Look how it’s unbundling television, or how it unbundled the music album. The college degree is a bundle that doesn’t work for everybody and creates unnatural market conditions, which is why college costs consistently rise faster than inflation.† (Newsweek) The cost of higher education tuition is skyrocketing throughout the USARead MoreThe Cost Of Higher Education2006 Words   |  9 PagesThe Cost of Higher Education Has Resulted in Extreme Student Loan Debt, How Do We Reverse This Cycle? During high school we are often told that higher education is essentially a precursor to achieving success in the workforce, meaning that your success is dependent upon earning a degree. We are also told that higher education is the key to â€Å"happiness† because it is clear that both a fulfilling and lucrative career is a direct representation of success. Sometimes parents, teachers, and guidance counselorsRead MoreThe Cost Of Higher Education Essay2115 Words   |  9 PagesThe cost of higher education is on the rise in the United States of America (USA). â€Å"Technology tends to unbundle stuff. Look how it’s unbundling television, or how it unbundled the music album. The college degree is a bundle that doesn’t work for everybody and creates unnatural market conditions, which is why college costs consistently rise faster than inflation.† (Newsweek) The cost of higher education tuition is skyrocketing throughout the USA. Imagine being a lower class fami ly, both you and yourRead MoreThe Cost Of Higher Education3697 Words   |  15 PagesThe cost of higher education is constantly rising and does not look to be stopping anytime soon. However, many individuals are concerned about the increasing cost and have little understanding as to why these costs are increasing despite the increasing revenue stream of many colleges and universities. Additionally, taking in consideration the current cost compared to the past 5 to 10 years is very important when addressing this issue. As the cost of a college degree increases it is becoming harder

The Standard Economic Theory ( Robbins ) - 3306 Words

Traditionally, standard economic theory (Robbins 1930) dictates that time-use is allocated between labor and leisure; however, Kimmel and Connelly point out this model simply does not hold true for mothers. Kimmel and Connelly posit that mothers presumably face another category of household work, separated into caregiving time and household production. Kimmel and Connelly modify this economic model to expand the time-use choices of mothers to include five various categories: labor (paid market work), leisure, home production, caregiving time (parental childcare), and other (sleeping, education, etc.—which will be ignored from here on out since personal care time is too diverse to calculate). The distinction of household work into two†¦show more content†¦. .† which causes mothers to allocate more time to childcare than household production (p. 667). These findings open up discussion of mothers’ time-use as it relates to the price of childcare, which would have important considerations and implications for policymakers. Hoffman examines the effect of children and marriage on women’s labor force participation between the years of 1984 and 2004 using data from the Current Population Survey (CPS). The data is valuable since it looks at the same years as recent work by Boushey of the Center for Economic and Policy Research, which suggested that the negative impact of children on mothers’ labor force participation has actually declined. Moreover, the sample sizes analyzed by Hoffman are large varying between 56,000 and 70,000 women 25-44 years old. Using a regression analysis, Hoffman’s various models allow for the interaction of marriage with children with the year to be taken into account. Hoffman is thus â€Å"able to compare the labor force participation of single women with children to single women without children . . . and married women with children to married women without children† (p. 8). Hoffman concludes that the negative impact of children on women’s labor force participation is almost the same as it was back in 1984 in that â€Å"children reduced the labor forceShow MoreRelatedWhat was Frederick Taylors most significant contribution to management?1185 Words   |  5 Pagesvarious wage and bonus incentive plans, an array of techniques for measuring work input and output, and an ideology of authority in organisation. Understandably, this new core and field of management has attracted many critics who claimed that the theory dehumanises and exploit workers. However, Taylors impact on management cannot be denied. Many current management practices are influenced and guided, either consciously or subconsciously, by these traditional concepts. It is also impossible to faultRead MoreClassical Management Theories1568 Words   |  7 Pagesmodels and theories. From the turn of the 20th Century, the need for a formal management theory was growing evident; organisa tions required a system to guide managers in an attempt to improve productivity and efficiency of workers. This urgency for a theory saw the development of six major management approaches, the focus of this essay will be on two of the classical management theories; the scientific management theory and the human relations movement. The contributions of both these theories will beRead MoreEssay about Classical Management Theories1523 Words   |  7 Pagesmodels and theories. From the turn of the 20th Century, the need for a formal management theory was growing evident; organisations required a system to guide managers in an attempt to improve productivity and efficiency of workers. 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None ought to govern who is not better than the governed.† Although this wasRead MoreHonda Motor Co., Ltd3431 Words   |  14 PagesGoals 4 Strategic goals 4 Tactical goals 4 Operational goals 4 Organization culture 4 Intrinsic aspect 4 Extrinsic aspect 5 Business Ethics and Social Responsibility 5 Integrated Social Contrct 5 Socio-economic view 5 Problem-solving and Decision-making 6 Problem identify 6 Performance deficiency problem 6 Decision-making program 6 Figure 1: Market Quality enhancement system in Honda Motor Co., Ltd 7 Control function 7 ControlRead MoreTheoretical Perspectives and Research1441 Words   |  6 PagesIntroduction Modern, post-modern, critical theory and symbolic-interpretive are four different perspectives that provides different ways to analyse and understand organisations, however this essay shall focus on two perspectives, namely the modern and critical theory. These two perspectives have different views on concepts that might appear similar, thus this essay shall examine the different stands they each take. Concepts that can be examined include, power, control and conflict, organisationalRead MoreTheoretical Perspectives and Research1448 Words   |  6 PagesIntroduction Modern, post-modern, critical theory and symbolic-interpretive are four different perspectives that provides different ways to analyse and understand organisations, however this essay shall focus on two perspectives, namely the modern and critical theory. These two perspectives have different views on concepts that might appear similar, thus this essay shall examine the different stands they each take. Concepts that can be examined include, power, control and conflict, organisationalRead MoreAffirmative Action On Equal Rights1655 Words   |  7 Pagespeople who share similar characteristics and values. It means that if every owner of wages employed qualified workers from their racial or cultural background, the minorities with fewer sources of capital would always be subjugated in the society. The economic properties of a capitalist society emphasize on merit rather than social position. If this property is upheld in all cases, the advantaged will always prevail at all levels of soc ioeconomic activities. Therefore, affirmative action evens the employmentRead MoreWhy The Behavioral Theory Is Better For Success Of Teams1632 Words   |  7 Pagesmanagement thought, especially the scientific management and the organisational behaviour theories, which elevates efficiency by enriching the connection between the work and the worker, has been a key contributor, this is often untrue when theory is applied to real life. This essay will discuss why the behavioural theory is better suited when success of teams is considered and how the scientific management theory limits the team’s freedom and capacity to succeed by relating to the factors which influenceRead MorePrinciples of the Human Relations Movement1504 Words   |  7 PagesBureaucracy, Mayo claimed that scientifically clarified rules, strict work procedure and incentive money payments were not the only stimulus to inspire workers and that they were â€Å"less factors in determining output than were group standards, sentiments and security† (Robbins, Millett Waters-Marsh, 2004, p.815-816) after he proceeded an experiment, called the ‘Hawthorne Experiment’. According to the Hawthorne Studies, employees were motivated to work harder and efficiently when managers provided a

The Basic Principles of Reganomics Free Essays

The election of the Regan-Bush Republican ticket of 1984 brought many unprecedented and controversial policies to the US economy. Many of these policies,including Reganomics still affect our economy as a whole and are still major points of debates today. Reganomics was not solely based on economics, but rather the included a sense of having moral foundations. We will write a custom essay sample on The Basic Principles of Reganomics or any similar topic only for you Order Now Government intervention and regulation of the economy were seen as economically harmful and furthermore morally wrong. It was believed that economic affairs should be left to the wisdom of God and his guidance would produce a The moral obligation together with extreme Kenseyan theories were the guide to the basic principles of Reganomics. Their objective was to follow a laissez faire attitude,or a hands off government policy. They also wanted to rely on the wisdom of the of the market, meaning that the market is smart enough to take care of and troubleshoot itself,and they tried to use a policy of deregulation which would allow companies to make their own economic decisions with out the government limiting their choices. The administration was also weary of anti-trust laws which did not allow for monopolies in The â€Å"deregulation of businesses† mentality was simple and encompassed two major points. The points were to lower taxes and allow businesses to make their own decisions without fear of government intervention. Their idea was that if you lowered taxes in general, business would have more money to produce more, to more they would hire more workers, and consequently due to the surplus of money, their would be more spending, investing, and saving. This proves that individuals would gain along with the business. Ronald Regan said, â€Å"Lower takes would spur business to invest, and send Americans rushing to stores to spend† (Regan). In the short run deregulation produced greater competition and lower prices for consumers. The long term effects were that the savings and loan industry collapsed due to fraud and mis-management. Regan knew that deregulation could possibly have adverse effects if there was no degree of regulation at all, so preventative measures were set in place. One such preventative measure was the Office of Information and Regulatory Affairs (O. I. R. A) which insured that deregulation dhered to cost benefit principles to the maximum extent possible. â€Å"If government is the problem, not the solution, you do not solve problems by applying a bigger problem to them† (Regan). Another notion behind Reganomics was the Laffer Curve, which conveyed the idea that tax cuts would increase tax revenue. The Laffer Curve is based on the ideology that government should provide a climate in which the incentives for individuals to pursue their own economic progress wouldn†t be hindered by governmental taxing, spending, regulations, and/or monetary policies. It is also based on supply side economics. Supply side economics was an economic policy designed to stimulate output and lower unemployment by increasing production in the economy. It allowed the free market to play a greater role in the economy while the government took on a lesser role. â€Å"If government is the problem, not the solution, you do not solve problems by applying a bigger problem to them† (Regan). The Regan administration believed tax and spend policies led to a weak economy. Accordingly, they passed the Tax Reform Act of 1986 (TRA86) which reduced individual income tax liabilities and raised corporate income tax liabilities. They also passed ERTS. ERTA gave a 25% cut in individual marginal tax rates over a three year period. It set an indexing of individual brackets, personal exemptions, and standard reductions; it reduced all individual taxpayers taxes, and gave percentage reductions for lower and middle class incomes exceeding those given for the rich. Bill Clinton said, â€Å"For 12 years the driving dea behind American economic policy has been cutting takes on the richest individuals and corporations†¦ â€Å". This is true, with the exception of ERTA, all the tax changes during the eight years of Reagan†s administration were unmistakably pro-business and When Reagan cut the taxes for wealthy individuals and business† he believed that it would contribute to a stronger base economy, in turn the benefits of a strong base economy would â€Å"trickle down† to reach everyone, even the poorest Americans. Ronald Reagan said, â€Å"Lower taxes would spur business to invest, and send Americans rushing to stores to spend† (Regan). The Reagan Administration believed lower taxes were beneficiary in this manor and high tax rates only further darkened the lines on how our society was typecast, rather than break down those barriers. Furthermore high tax rates inhibited social mobility into the upper class. â€Å"The real losers from soak the rich tax are not the rich, but the would be rich. † This is true because there would be no trickle down Major elements in the initial Regan policies were spending slow downs aimed at eliminating budget deficits in 1984 and producing budget surpluses thereafter. As well it was aimed to slow down the growth of federal outlays and change their composition. However the initial policies of the Reagan administration coupled with stock market changes were so bold and dramatic that it caused the 1981 – 1982 recession. After be in a state of recession, things did get better. Within 18 months of Reagans term, poverty began to decrease. The U. S also experienced an unprecedented export boom in the 1980†³s which turned out to be the longest economic boom in U. S history. Along with this came 20 million new jobs and it was the first time the electorate ad an intensely satisfied voting majority. † Reagan was the only U. S. president since WWII to reduce both inflation and unemployment while expanding the total number of jobs for all Americans† (Dunn) However when this great prosperity was acquired in such a short period of time, people got nervous and began to make false accusations against the Reagan administration which were called myths. Myths were created by economists that either did not look at all the statistics or made assumptions before they had all of the statistics. Some of the myths that came from these economists were that Reaganomics caused Americans to divest and de-industrialize. There were also presumptions that every dollar of taxes that were cut would lose a dollar of revenue. They also offered that record deficits were caused by the reduction in marginal tax rates. There is no basis for insisting that tax policy developments were responsible for the budget deficits of the Reagan years. (Ture 35) Some myths created even went so far as to say that the deficits were deliberate in order to reduce social spending while increasing defense spending. In fact the contrary is true. Transfer payment spending for social services rose 19. 7%, from $344. 3 billion to $412 billion, on programs that provided income, food, healthcare, housing, education and training, and social services to poor families. (Ture 39) This is proving that social programs were not hurt under Reagan. Economists also gave the impression that Reagan policies favored the rich at the expense of the poor and that the rich only paid a larger shave of taxes because they had a larger share of income. This is not entirely true. Even though the rich may not have seemed to have paid more taxes they actually did buy investing in more taxable securities and fewer tax exempt securities. This produced more tax revenue. Rather than being a tax and spend economy, the Reagan administration lended itself to a borrow and spend economy that produced many deficits. What was the cause of these enormous debts? Many factors added to the accumulation of the debts. Buying and thus building up the U. S. dollar to an artificiallyhigh level made U. S exports more expensive, U. S imports cheaper and it added to the rade deficit and the foreign debt. This was also known as â€Å"Mexicanization† of the economy. (Galbraith 3) Large budget deficits from the loss of tax revenue, was brought about by the loss of real output during the 1981 – 1982 recession, and unanticipated disinflation. That fiscal year (after adjusting for inflation, tax collections did not increase) brought high interest rates which attracted foreign money. This pushed up the dollar and caused the trade deficit. The deficit was also caused by large defense and The Reagan administration had little responsibility for the budget deficits. The bills for spending that the Reagan administration originally proposed were altered by congress. The deficit was therefore caused by congress† permitted spending excess and not excess tax cuts. It seems that through supply-side economics savings didn†t increase but allowed for a huge growing debt that nearly tripled during Reagans administration. On the good side of things, deficit spending helped to stimulate demand and trigger economic recovery. It also stimulated a growth of employment in non-investment grade firms by 17. 3 million which was due to junk bonds. (Zycher,43) On the down side, the U. S is presently the worlds largest debtor. Public and Private debts carrying over from the past decade weigh heavily on the government,business†, household†s and financial institutions† well being. Reganomics could have been greatly successful if government spending would have been checked. â€Å"If government had borrowed in order to fund public capital, rather than military spending and tax breaks for the wealthy, the debt burden would be greatly reduced† (Sawicki). Looking back now we can truly understanding the full effects of Reganomics on our economy. How to cite The Basic Principles of Reganomics, Essay examples