According to "Is student debt ruining the recovery?" Even though student debt, which makes the millennials confront the fear of default, has become a financial issue and a political celebre and Both Bernie Sanders and Hillary Clinton made proposal to reduce the debt burden, the writer says the student debt isn't yet high to press the US economy and pupil's debt today is just one-ninth the size of mortgage debt in 2007, when the US was on the verge of financial crisis.
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My Yes/No question is:
Should Universities cut down on the tuition fee?
My answer is:
Yes, they ought to reduce the tuition fee.
Yes, they ought to reduce the tuition fee.
Who does not want to enjoy their vacation? Vacation is really happy moment in our college period. During 4 years university period, we can have at most 8 times summer and winter vacation and which periods, students can do everything they had planned to do. Travelling, reading novels, doing part time jobs, applying interns, developing their bodies and minds, and so on. A lot of things to do are waiting for them outside the world. I don’t want our students to be only bookworm, yet I encourage them to experience street-smart, which is more useful than being a book lover.
Because the environment of job recruit is, however, severe than we have expected and imagined, most universities students gave up their interests or plans and just stay home or in the library for 24 hours during the vacation. They cannot help but to study although it cannot guarantee the bright future. Since almost students have already known they cannot get what they want in the near future,
The more the graduate want to get high salary job, the more companies reduce the number of new employee. According to Korean Job Recruit, Korean big 5 companies, Samsung, Hyundai Motors, LG, SK, and Lotte, they reduce the incoming employees about 30 % compared to 2014 and 2015, and cut back on their 2016 budget of the group. This indicates Korean economic environment is getting worse and worse, I think I haven’t heard they will hire more than last year since 2000.
I had experienced IMF periods in 1998 and Financial Crisis in 2008. Both are horrible experiences in my life and I saw many employees were discharged from their beloved companies with pink slips, which made lots of people commit suicide and frustrated. At that moment, because one of my uncles committed suicide, due to the fact he got lost his job, I cannot forget that horrid experience. Even Korean citizens had gathered gold in order to pay back our government debt and tightened our belts not only to save money, but also deposit money into the bank account, IMF domination lasted for about 2 years and a several years more we had to be suffered from that situation.
There are some weird policies. One good example is the tuition fee of the university. It is, once, raised by the authorities, which don’t want to lower the price where it originally existed. No matter what the economic situation is or we demand for reasonable price of the quality of education. (Similarly, English academies do). After graduating, the lesser we get a good job, the harder we pay back our school loan. I still remember what the present president of Korea promised at Presidential election in 2012. One of the campaign pledges is a half tuition fee of the university. However, even though 4 years of the presidential term have passed, the president and the ruling party have not yet mentioned that when they are going to fulfill their election pledges. Have I still been waiting for that? Yes, I have been “Waiting for Godot”
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References
Samuelson R. J. (2016. August 10). Is student debt ruining the recovery? In The Washington Post. Retrieved from https://www.washingtonpost.com/opinions/is-student-debt-ruining-the-recovery/2016/08/10/5bf8cc8c-5f0b-11e6-8e45-477372e89d78_story.html?utm_term=.370b60fe2fd4
Waiting for Godot. (2016, August 10). In Wikipedia, The Free Encyclopedia. Retrieved 05:41, August 11, 2016, from https://en.wikipedia.org/w/index.php?title=Waiting_for_Godot&oldid=733796790
This is a difficult question The answer depends on which school of thought you are with. to me, I support the idea of 'Education for All'. But this probably not possible to the university level. Still I think education is an important tool to move the country forward. The tuition fee in tertiary education should not be too high in order to make it accessible for any. It should be one of the government duty to provide this service to her people with a reasonable tuition fee.
ReplyDeleteI agree with you that university should reduce tuition free.Debt from education is quite a big problem everywhere in an uncertain economic climate like this.Yesterday I also read the article from BBC News" Graduate debt 'a third of average mortgage', says charity" the approximately £9,000 a year tuition fees with rising accommodation price in the UK causing a huge debt problem for new graduates and their future.My question is how the university should do to reduce tuition free and still maintain quality of education and great professors in their university.
ReplyDeleteTuition fee is an obstacle for the poor one to access proper education. Lowering the tuition fee is a good idea for encouraging students to continue studying. This benefits not only individuals but also a country as a whole. Education is very important for everyone. Without knowledge, how can ones pursue their dream or their career? how can one country be developed without graduates? It seems to be impossible.
ReplyDeleteAbout governments' policies, improving education level, increasing literacy rates, and lowering tuition fee seem to be the most popular campaign which mainly make them win the election. In Thailand, there is a policy that offers student to study for free. We, as a students, expected that we can study for FREE without paying even a small sum of money. However, it turned out that we have to pay for "school maintenance cost" which cost us more than tuition fee. What a successful policy!
I'm not clear whether the people favouring reduced education costs want governments to force it in a communist way, or whether they think that private businesses should willingly reduce their profits.
ReplyDeleteThe reduction of tuition fee can be made in many ways. Instead of spending our country's budget in buying unnecessary military tools like submarines, F-16, and others, the elected government can cut that large amount of money to support university. In some Scandinavian countries certain proportion of taxes goes to funding university. Some Thai graduates from abroad told me that the locals in Sweden and German (one of the European countries) could go to study in the university in their own country for free.
ReplyDeleteI think the cause of expensive tuition is that university is becoming more and more like business. I see university advertisement everywhere on the internet. This becomes more obvious when I register in common application, the website that is commonly used to register in almost every university in USA. As soon as I make an account in the website, I believe that it sells my email to other universities. And I got a lot of emails from those school trying to convince me to go to their school. If you search for university ranking, you'll see that there are a list of facilities in the university. But most of them aren't worth the money at all. They're just there to make the university looks good. For example, one university that I looked up when I was deciding for my university say that they do everything in computers. The assignments, class registration, meeting, and even some lectures are done online through the university's system. It seems high-tech, but it's unnecessary. The budget they put into this project is such a waste of student's tuition. They put all of that just to lure students to register in that university. The universities are competing against each other by installing expensive hight-end technologies so that they will make more money. The budget cut, unfortunately, cannot be done so easily. It is because students who choose fancy university over other university that make tuition more expensive.
ReplyDeleteThis question is very difficult for me. I'm not expert about economic or financial system but I give one's opinion. I think, that is perhaps private business of each university for management depend on each country. If that university has high tuition but they have brought money to develop education for produce many quality students. I think It's ok for paying. At the same times many university will give scholarships for student who can't pay for expensive tuition also or they have good grade and ability.
ReplyDeleteI agree that universities should cut down on the tuition fee but this benefits would apply for students who have good grade. Nowadays, money is the most substantial things in our life. Many people trend to use money in different ways such as travelling or education. In this case, I suggest that reduce tuition free should provide for high performance student only because it seems that they pay attention and want to learn more useful knowledge.
ReplyDelete