The Overwhelming Burden of College Costs
The recent global economic downturn has already affected the cost of education. It is largely for this reason that the burden of college costs is already weighing more heavily on the shoulders of the students and their parents.
Since schools are spending less on their students, the rising costs of tuition and other miscellaneous expenses are being felt by students more than ever. The funds which the schools have originally dedicated for instruction and other students services are now steadily decreasing, thus prompting the students to spend more.
Rising expenses on education also mean that more students are borrowing money for college, whether through federal loans or private student loans, which translates into bigger debts for students to repay after graduating.
The higher education expenses not only affects undergraduate students but graduate or master’s degree students as well. The burden of college costs also includes lodging, book expenses and daily allowances.
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