The Economics of Education & Financing Education Adequately - Assignment 6 - Essay Example

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The Economics of Education & Financing Education Adequately - Assignment 6

The factors contributing to increment in the educational costs in detail are as follows:
According to a report issued by the U.S department of education which states that the average cost per pupil has increased up to 44% over the past decades. Public elementary and secondary schools across the country are shifting their costs like state funding, lower tax revenues and personnel costs to parents and their students by increasing school fees. Even though in public schools students were charged for the fieldtrips etc. they are also being charged $20 for the school supplies like for their labs to workbooks. When inflation is growing at 2% rate in broad economy the educational costs increase at 4-6% annually. This means if we were to pay $10,000 this year, the cost will increase by $400-$600 next year. Therefore, this means that educational costs have doubled in 12-18 years. High demand drives the prices to go high. It is factually true that more students are attempting for school admissions than ever, because the demand is high which is causing the costs to climb high. Because there are a plenty of students who are willing to self-finance their education and schools are welcoming their demands which requires them to expand their setup, increase staff salaries and add more facilities (Brimley, Verstegen, Debora & Rulon, 2012).
When a few lucky students who are offered scholarships, there are many unlucky students who make up for the cost difference. This is a fact about schools who receive a little or no endowment from the government. This is one problem which keeps growing, the more the educational costs rise, the more students opt for scholarships. When scholarships are awarded largely the costs increase for the self-financing students. Which leads to more requests for scholarships and the process goes on.
Most states have refrained schools to charge for core courses, ...Show more

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It is a genuine matter of frustration for all students and parents and a new study has provided an even more frustrating report proving the factors…
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