Many people today find that the cost of attaining a University-level education is extremely high for the students and their families. What are the causes of this situation, and how can governments, Universities and the students themselves overcome the problem?

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acquiring academic credentials

is often regarded

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are often regarded

as indispensable in securing many sought-after careers, considerable

tuition

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increases are due at virtually all higher educational establishments, taking its toll seriously on affordability among students and their parents. While several root causes can lie in three distinct domains, a number of effective measures can be taken to address

this

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controversial issue. Many contributing factors can be discerned, leading to university

tuition

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inflation. One major cause is known to be the generous government financial aid policies aimed at easing the economic strain on students, irrespective of their socioeconomic backgrounds.

This

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, as proposed by the Bennett hypothesis, results in universities’ blithely raising

tuition

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fees, with the implication that the government loan would help alleviate

this

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surge. According to a statistic from the Federal Reserve Bank of New York, “for every new dollar of federal

student

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aid,

tuition

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is raised by 65 cents.” A

further

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factor appears to be the exponential increase in the sheer number of students attending higher education institutions.

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burgeoning demand could lead universities

to

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in

offering more on-campus

student

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services, which would entail increasing

enrollment

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costs.

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, the incompatibility of the rising university expenses with the annual inflation rate is thought of as another underlying reason, meaning that few families would be able to shoulder the financial burden.

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, more students are likely to take out loans in the hope of affording

such

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costs, which would in turn reinforce the vicious cycle of growth in education expenses. Turning to possible remedies, three areas of solution strategies can be identified - governmental, institutional, and individual. A feasible approach is for the government to devise a need-based

student

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financial aid eligibility formula, meaning that the ones from affluent families would not be entitled to apply for

student

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loans.

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being the case, authorities could ensure that the cost of education does not hinder access to universities

,

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,

as well as mitigating the ever-rising

tuition

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fees. A

further

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step might be for universities

to consider

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consider

other resources of income with a view to compensating for their increasing costs.

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can be done through seeking

such

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alternative revenue streams as designing corporate or career enhancement training for private enterprises, which can provide the institution with significant additional funds. An example can be seen in Harvard

University offering

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University, offering

business school programs for executives who make over 10 million dollars a year.

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, undergraduates should be incentivised to participate in work-study jobs while studying.

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finding a part-time job as a

student

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might be challenging, it would help them afford additional educational expenditure if they took

this

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step.