On the recordJuly 23, 2013
The National Journal today noted that borrowing accounts for 18 percent of how the average family pays for college. They also noted that majors vary considerably in terms of their cost, such as social science being about $28,000 and engineering around $25,000. What's notable is the starting salaries for a number of majors is so low that students cannot pay back their loans. What is also noteworthy is the cost of the actual tuition itself. Since the 1970s, when data first began to be gathered, college tuition costs have gone up 1,120 percent, while inflation itself has gone up a little over 200 percent. As we're talking about the cost of college, it is very important, Mr. Speaker, that we also call upon colleges themselves to be responsible for trimming costs and for guidance counselors and colleges to also look at how they are advising students to move forward in their careers. An important part of this argument is how students are saddled with a great deal of debt that they can't repay because they simply are not in a major in which they can earn money, and how colleges spend so much on a number of amenities that have little to do with education. So I hope that universities, themselves, look at how they can trim their costs instead of continuing to raise tuition on the students, who then are faced with a lifelong burden. ____________________
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