State budget squeeze pushes college students deeper in debt

Private-student-loans
Image Courtesy: bit.ly/1F7DV4w

After the big economic crunch, many states of the US have recovered from the crisis, giving bailout packages and subsidies, to adjust the temporary economic shortfall. But, higher education seems to be an exception to the rule.

Free online courses like the one recently announced by the University of Illinois offering free online MBA, that is set to roll out from the upcoming spring, can give students relief in providing them with opportunity to get certificate freely, successfully avoiding campus education and the cost attached with it.

Affordable UK University degree online or similar International programmes can be as effective as well.

Now, let us look at the causes that is pushing students deeper in debt, coming back to the topic of online education as alternative later.

Budget cut in education, in recent times

As per a report published, from the Center on Budget and Policy Priorities, heavy reduction in funding in higher education is taking place since 2008, resulting in big financial burden for universities and colleges, trying to educate in ways most economical to the students.

Mandatory programmes

As compulsory educational programmes mandatorily undertaken by public educational institutes under the jurisdiction of state governments, to the welfarist and humanitarian end, keep their place, higher education, being for the eligible few, is the sector that is hit most as a result.

Higher education, under effect

To compensate the investment in the mentioned charitable programmes conducted, universities and colleges therein, are most heavily burdened, both unethically and unjustfiedly, with the responsibility to manage the cost of running courses, on their own.

The university and the unavoidable fee imposed upon the students, causing natural apathy and repulsion towards highly paid courses in many cases, are sharing the responsibility together working as source of money for the courses.

Only three states – Alaska, North Dakota, and Wyoming .. were able to reduce their investment on each student, in the latest academic year.

Aids not much of help

“Once you factor in other expenses like room and board, the net cost of attendance increased even for those who are receiving the largest amounts of financial aid,” said Michael Mitchell, a CBPP (Centre on Budget and Policy Priorities) policy analyst and co-author of the report that was talked about, in the beginning regarding budget reduction.

Increasing fees for students

As even the institutes with highest aids struggle to arrange enough money to provide free or cheapest courses, the fees for students remain increasing, consistent with the trend of taking loans of bigger amounts and higher interest rates, which often students can not pay back.

With the intesification of the problem in a slippery slope, higher education, not directly associated with popular public sentiment, suffering 2 percent decrease in alloted share of money in budget from 1980s, keep its ‘duty’ running to make for the budgetory deficit caused by ‘necessary evil’ of keeping the minimum standard of living for the public intact, through state-run free mandatory programmes, for teaching and catering purposes, leading to bigger debts for students.

Is the Online solution viable?

Reiterating the introduction, online courses can really solve this problem to some extent, effectively and efficiently. Realistic solutions, provided by online education, in current new way, introducing ‘Online University degree’ programmes that are cost-effective and innovative, can be a viable alternative indeed.

International programmes like affordable UK University degree programmes as mentioned in the beginning, among others run by several other developed countries, can be mentioned in this regard. Affordable UK University degrees with all other equally examplary online degree programmes that are suggestible as the alternative for the chargable mainstrem degrees, that are emerging as an inevitable outcome of situations like one in the US described above, can truly be a magically effective solution to a complicated problem of complex economy, in modern states

Source: bloom.bg/1QimOnP ,
Source: cnb.cx/1AY95tn
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