Rising Costs of Higher Education

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The cost of higher education has been rising as time goes by and if the trend continues, higher education might prove inaccessible to many citizens. In the old days, early education was viewed as a public good and not as a benefit to the individual who received it.


The assistance has led to an increase in demand for higher education and the students have greatly enrolled for courses in the universities. The universities have taken an advantage of this and have increased the fees that students should pay for higher education with an argument that these students have money from these funds. Government funding to the institutions have also declined but the universities have not reduced their budgets. This means that the money will be extended to the students in terms of tuition and fees. Another issue is the lack of market discipline. Different departments in the institutions bloat their budgets so that they gain more power and get their work done. This has again led to the rise in the cost of higher education. Ineffective price competition among the institutions has also made a major contribution to the rise in the cost of higher education. Competition is also there where each institution wants the best lecturers and that means that they have to pay more. There are also government regulations that require the universities to pay some amounts of money to people like workers who construct buildings in the universities and pay some other fees in relation to research. This increases the costs of running the universities and eventually leads to increased fees on the part of the student. ...
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