There is a growing epidemic in the higher education industry involving value versus cost. Not only has the perceived value of achieving a degree diminished, the monetary gain is also continuing to dwindle. A growing number of students are currently leaving their college experience with tens of thousands of dollars in debt, due to the rising cost of engaging in higher education. Students accrue more debt than ever before, and an increasing number do not achieve the means to pay it off upon graduating. In order to keep the higher education system in America alive and efficient, administrators must act to lower cost and at the very least restore value to graduating from college. In contrast to what many people may currently believe, this issue has a widespread effect that will eventually be detrimental to students, teachers, administrators, and private sector businesses. This epidemic is far from unsolvable as long as the necessary people begin to take action and implement effective changes to our education system and the costs associated with attending an institution of higher education.
According to an article located in the college reader, Ethics in Higher Education, published in 2013 and edited by Nancy Henke et al. and originally published in the well known anonymous forum, The Economist, in December 2012 titled “Higher Education: Not What it Used to Be,” “The cost of university per student has risen by almost five times the rate of inflation” (112). Given the distinguishable gap between university cost and the rate of inflation, this statistic shows the rise in cost is not simply due to teacher salaries, or economic growth. Universities are over-spending, and not on necessary instructional aids. According to Tthe Economist article, “Roger Geiger of Pennsylvania State University and Donald Heller of Michigan State University say that since 1990, in both public and private colleges, expenditures on instruction have risen more slowly that in any other category of spending” (113). The reader accompanies this fact with a chart showing the number of non-faculty employees per 100 faculty members. The chart shows that since 1976 the number of “administrative and support” employees per 100 teachers has risen from approximately 50 in 1976 to almost 100 in 2009 (113). This unnecessary spending is creating a gap between the value of the education students receive and the cost they are asked to pay for that education.
Compounding the issue is the amount of debt students must take on during college versus their post-graduation ability to pay that debt off. According to the article in The Economist, “After adjusting for inflation, graduates earned no more in 2007 than they did in 1979” (115). Considering the aforementioned statistics on the increase in cost of attendance, the lack of growth in earnings is a significant problem. If universities are unable to ensure students of the value required to make college worth it, students will not attend, and the American economy is likely to suffer. According to one of the cases presented an article in Ethics in Higher Education, which is a compilation of “9 Unbelievable Student Loan Horror Stories” by Mandi Woodruff, who published the article in the Yahoo! Finance Business Insider in November 2012 (145), the former student states, “My original loan was $80,000 but has grown to $135,000 and all I can pay is interest only, which is already $700 a month” (148). This is a prime example of the inability graduates have, to pay back the cost of their education, given the pay they earn after graduating from college.
Given the recent state of affairs, morale in Higher Education has begun to plummet. According to an interview session on the National Public Radio By Jennifer Ludden in May 2012, which was published in Ethics in Higher Education, one of the contributors, Zukin, says that graduates no longer see anything concrete in their future, no secure career, income, the ability to start a family, and “45 percent-do not see owning a home at any point in the near future” (131). This represents the mindset of today’s graduates. They are told by society that they need to attend college and get a degree, then, by the time they have accomplished just that, graduates find there is no value to their efforts. It is not simply the students’ opinions that show the decreased value in higher education. According to the piece from The Economist, “a federal survey showed that the literacy of college-educated citizens declined between 1992 and 2003” (114). Why would the education system continue to be successful if costs are rising and more students leave college without reaching the expected outcomes, such as literacy? The answer seems clear; the system is unlikely to thrive. Once there is little to no perceived, or statistical, value to college, enrolment will cease growing and the American Higher Ed system will be unable to right itself.
As with almost any problem, there are definite solutions. To begin, why do teachers need to be governed so heavily by administrative aids? The statistic shared earlier regarding the number of non-faculty workers is astounding and frankly a slap in the face to the higher education system itself. Professors at universities, all graduates themselves, have the ability to be self-sufficient. It shows little faith in the professors and less focus on student needs when administrators believe that more administrative and support positions need to be employed in order to cater to the needs of the system rather than guaranteeing benefit to students. More funding needs to be allocated towards the true education of students, having sound instructional practices. Ensuring smaller class sizes, engaged professors, and rigorous course material are the keys to keeping value in the education college students receive.
Along with issues that have to do with the allocation of funding, payment methods are a substantial source of discontent. Students that graduated in 2011 with a bachelor’s degree had an average of $26,000 in debt, according to “Higher Education: Not What It Used to Be” (112). There has got to be a more effective way of funding a college degree. The “UC Student Investment Proposal,” published on fixUC.org in March 2012 by University of California Students, represents an important step in the right direction. Basically their proposal is to fund the university by having students pay a portion of their salaries for a set amount of time after graduation (119). This focuses both faculty and administrators on working for their students, as it is a value-based form of compensation. It stands to reason that better educated students will be more efficient and effective in the work force and will be compensated in accordance with their value by an employer. While students will continue to carry a large amount of responsibility to perform their best and present themselves in an intelligent light, what is being discussed here is the role that universities play in bestowing value upon their constituents. Instituting a method such as the one described above creates a few responsibilities for administrators within a university system. It will be an administrator’s job to create valuable relationships with businesses that could be potential employers of their students. There will need to be transparency between the colleges and the businesses so the value of the education can be quantified. Instead of hiring administrators to evaluate professors, invite potential employers in to calculate the value the university’s education brings to their field. Trust could be the number one value the market looks for in college graduates, the best way to accomplish this is with the cooperation and effort of the faculty and administrators.
Affordable, and efficient, education begins and ends with the universities themselves. The middle part, the leg work, all the studying, perseverance, sleepless nights, and drive to succeed lies with the students. College attendees are inherently learners;, they are willing to pay the cost of college to go further than the norm and pursue a passion. Their hard work can only be realized through the dedication of the university’s faculty and administration. Collegiate employees must embrace change and the responsibility to provide their members with the best possible reward for the hard work and financial cost students have given their college. Until an act is rewarded, it is simply a sacrifice, universities will only be successful if they effectively turn a student’s sacrifice into a student’s success.
Works Cited:
Anonymous. "Higher Education: Not What It Used to Be." Ethics in Higher Education. Nancy Henke et al. Southlake, Texas: Fountain Press, 2013. 111-116. Print.
Ludden, Jennifer. "College Grads Struggle to Gain Financial Footing." Ethics in Higher Education. Nancy Henke et al. Southlake, Texas: Fountain Press, 2013. 129-132. Print
UC Students. "UC Student Investment Proposal." Ethics in Higher Education. Nancy Henke et al. Southlake, Texas: Fountain Press, 2013. 117-122. Print.
Woodruff, Mandi. "9 Unbelievable Student Loan Horror Stories." Ethics in Higher Education. Nancy Henke et al. Southlake, Texas: Fountain Press, 2013. 145-152. Print.
Batchelor, John. “Graduating in Debt.” Image. Ethics in Higher Education. Nancy Henke et al. Southlake, Texas: Foundation Press, 2013. 153-154. Print.