Lowering the cost of education<http://loan-for-study.blogspot.com/2009/12/lowering-cost-of-education.html> THERE IS a fundamental law of economics which says that the more money there is chasing a finite quantity of goods, the higher the final price of that good will rise. In the university setting, this law is readily apparent as limited capacity and a rising college-bound population inevitably leads to rising tuition costs and larger student debt. However, increased financial aid, which seems to be an easy fix for this problem, may in fact only worsen it. Instead of the government pumping more money into the education market to match rising prices, the University and other colleges shouldlook at how efficiently current capacity is being used. Rather than look to the government to solve our problems and give students more money, students and parents should look to the nation’s schools to better utilize what they have and thus bring tuition rates down to more manageable levels. Last Thursday, The Cavalier Daily reported that the average loan debt of students has doubled over the past decade, and that this has caused a crisis by forcing students away from generally lower-paying but socially important jobs such as teaching. In sum, according the University’s Web site approximately 55 percent of in-state and 51 percent of out-of-state first years received some form of aid in 2005-2006 averaging, $7,818 and $17,841 respectively. These numbers simply do not make sense from any financial perspective. After all, half of the country does not receive free money whenever they want to buy a house or car. Instead, the market for these and any goods creates a price at which demand is satisfied. Read More Click here<http://loan-for-study.blogspot.com/2009/12/lowering-cost-of-education.html>
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