The average Ball State University student will graduate with more than $23,000 in student loan debt. For some who will have trouble finding a job in their field for a while, that could be more than an entire year's pay.
The ridiculous cost of a college education is becoming a major problem. We at Ball State are lucky; our tuition and room and board costs are among the lowest in Indiana, yet we're still leaving with 23 grand to pay back.
The cost of tuition at Ball State increased more than 3 percent this year and will increase about the same amount for the 2010-2011 school year. It inevitably will increase more every year. According to finaid.org, an online public service Web site that provides information and tips about financial aid, the national college tuition rates increase at about twice the general inflation rates since 1958.
This can't continue much longer. If it does, college education will revert back to the way it was at the beginning of the 20th century: Only rich kids will have it.
On top of that, as we're paying more for our education, its value is declining at the same time it's becoming more of a necessity in the work force. Since the economy crashed last year, more people are in school, hoping to make themselves more marketable to employers. The value of a college degree declines as they become more common. Yet, because they are more common, people need them now more than ever if they want to compete for good jobs.
The way things are looking, a college degree will become the new high school diploma. People will need to go to graduate school to set themselves apart from all the others with a degree, putting them further into debt.
This issue isn't being discussed as much as others — health care for instance — because the people it affects the most don't vote in the same volumes as the baby boomers who are worried about paying for medicine. Not that this issue is more important, or even as important, but there's room for debate about it. We just need to show the suits in Washington that we'll show up to vote if they talk about it. We will get as much attention as we demand at the polls.
Speaking of that, thanks for keeping us in mind Pence. It can't be easy worrying about probably the biggest institution in your district. When we're unemployed and bankrupted by debt we'll try to get out to the polls and vote.
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