Online degrees is what can bend the increasing cost curve of Higher Education

The cost of education in graduate, college and professional school is currently high that ever. Nevertheless, we need the higher education more than ever and we stand to lose more without them. Many people are blaming higher learning institutions for increasing the price in order to gouge them. However, this article will not support this take but give an explanation for the rising costs of this education. Besides, it support the view of many policymakers on online learning as a way to lower the college cost, serve student needs better and increase their access to higher education.

Understanding the skyrocketing price of higher education

It is unfortunate to see government aid that were grants several years ago have turned to students loans while the higher education is transitioning to be more valuable than previous decades. But let us face it; if we are going to have best higher learning system in the world, we must be willing to pay a bit more for it. This section will analyze the past, present and future of increasing education cost and determine how the affect us.

Let first put the increasing fee and tuition costs into perspective. Research has estimated the cost of higher education to have jumped with over 540% since 1985. Medical costs have surged with more than 290% whereas the consumer price index has surged with about 121%. This comparison means that the current cost higher education is about 4.5 times of what it was thirty years ago. Although this finding is alarming especially when considering the growing student debt rates, you will find out why this situation is not really bad in this article.

The increasing cost is accompanied by more students

The change in the cost of higher education is more evident in terms of the current dollars. For instance, the cost of a four-year institution in 1981-82 had a price tag of $3,960 compared to $23,066 in 2012. Despite the college cost skyrocketing in the recent decades, the diversity of university students and the accessibility of higher education have also increased over the same time frame. More and more young student are attending colleges and majority of undergraduate student consist of women in many countries. This observation moderate the conventional take that universities are charging too high prices. Instead, many policymakers feel that the higher learning institutions are doing better jobs than ever even if they are raising the cost at an unsustainable rate. Despite several colleges trying to combat the swelling tuition and fees, and the increasing student loans, the cost of education in many college continue to rise. Here are some of the reasons for this increase in college cost.

Causes of this rise

Contrary to many people’s perception that higher education institution are gouging students by increasing the price, the high price is largely contributed by a simple matter of artificially inflated demand and the supply. Most kids have access to student loans over the few decades leading to a glut of applications for colleges. Government used to provide aid in earlier years to help colleges adjust to growing demand, build new structures, recruit talents and create programs. However, the government has not increased such aids to match the growing demand in the recent decades. The cost of higher education experienced a turning point in 1970 when America faced double digit inflation, forcing the college fees and tuition to climb rapidly to match the inflation. At that time, the government had not prepared its program to account for the rise in education costs. In response, the federal grant programs started to transition to subsidized loan programs. Furthermore, the colleges had no otherwise than to shift their budget deficiencies to fees and tuition owed by families.

Online degrees and college costs

From the discussion above, it appears that nothing policymakers can do to combat the rising cost of attending college and increase the access to higher education. It is clear that the institutions cannot just decide to reduce the cost of education since they are receiving less subsidization from the government. Fortunately, all is not gone as some institutions of higher education believe that they found the key to lowering their tuition and keeping the student loans low: online education.

Benefits of online education

Online learning can help in improving access to higher education by meeting the needs of nontraditional students. Online classes are more flexible allowing you to schedule your classes to fit your desire. One drawback for many online students is balancing the time for both study time, and still have enough time to complete their assignment. If you are in such situation you can benefit from the programs offered by some online essay writing services such as the write my dissertation for me uk. Therefore, you can still manage to get good grades in your online courses.

Why is the online leaning being considered a cost saver?

It is easier to see why universities are championing online education as a cost-saver. They do not need to construct classrooms for online courses and they can amortize the costs of developing these courses over time. Colleges can realize savings through economies of scales such as the centralization of online services. This approach can allow faculty members to use less time facilitating, designing and seeking approval for each online course, leading to a drop in the overall labor costs.

In conclusion, online education appears to be the solution for the many traditional challenges faced by the colleges and university in the recent times, including budgets cuts and higher tuitions. Besides being an important tool that can potentially lower college costs, many students are finding online education to have important features that make it the perfect higher education alternative for the modern ages. The prominent benefit of online learning is that students can manage their study timings. They can also manage working and schooling without worrying about meeting their assignments deadlines, thanks to online classes help for student offered here. Therefore, the online education is very beneficial and worthy for all types of students to get college degrees with best grades.

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