Why College Is So Expensive from CNBC (2019)
This video provided me a general trend of how the demographics of American higher education have been changed concerning a student debt. It mentioned the GI Bill of Rights in 1944 which was the main factor to “open doors” for people who haven’t thought of going to college since it covered up the tuition, laboratory fees, books, supplies, and equipment. However, not everyone was to take full advantage of the bill’s benefits due to the discrimination by both schools and banks in gender, race, and color. But with the rising of a taxpayer in the 70s, a student loan has exploded, a transition from the taxpayer to students. Privatization in higher education and international student’s anxiety are closely related. There are so many international students who actually have to finance their educations through debt. Since they are also not qualified for government-backed student loans, attending a college in a foreign country is a real stress. According to the video, the main factors that make college so expensive is colleges that want to expand their universities by adding on new buildings, financial aid, long term classes, prestigious, etc. Colleges have to spend a lot of money, even though the state funding has decreased, to make the school look more prestigious so that they can get as many students as they can to their universities. However, college tuition can affect students as well as families mentally- especially for international households- by putting them under pressure about their expenses. Privatization in higher education has changed the bottom line of student’s interest and experiences by sort of forcing them to worry about their financial issues rather than focus on developing their ideas and approaching higher education to succeed in their future. Think about all the ambitions that international parents put just to make their children study abroad and explore a broader world. Also, think about children who came to America with full of excitement to start a new journey. They would never want to see each other suffering from financial burdens. Rachel Brandt got her undergraduate degrees in math and economics from Iowa State. Then she moved to New York to pursue her master’s in economics. She left grad school after her semester to better cope with mental health issues she was going through. It was tough for her to pay off $6000 while she was already paying $867 for the rent. She said, “it feels like I will have a roommate for the rest of my life because my debt is so much.” Whenever she looks at her bank account, she gets anxious and does not know what to do. This financial stress, the main concern that American higher education is trying to keep itself afloat on the back of international students, not only put many foreign households into a hardship but also makes them to suffer from a serious mental health issue that they are not paying attention to. In order to remain healthy physically and mentally, it is important to think about the role and responsibility that parents and children should hold.
Great review! Makes me want to take another look at this documentary.
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