Education enthusiasts designed a formal education system suited for the industrial revolution. In its current form, the education system no longer serves the learner’s interest. We have a system of education that creates conditions for socio-economic inequality to thrive rather than reducing it.
This post highlights some pitfalls of the current education system. Let us jump right in.
1. The Cost of Education is Too High
The education institutions treat the students like a typical customer. The institutions exist to make a profit, forgetting that their core reason of existence is to replace an empty mind with education. Therefore, the student pays exorbitant fees to acquire the precious commodity. The government should control the cost of education, or otherwise, these institutions will make education not worth the price.
To understand the feeling of crisis in higher education, we take you a step back. In 1974, attending a four-year private college cost around $2000 a year. For public colleges and universities, it was $510 per year. These figures put into the current dollar we are talking about $31,000 a year to study at a private university and S9,000 for the public universities.
The key drivers of the rising cost of tuition are reduced state funding, while universities are after earning maximum profits by increasing the tuition fee. To change the situation, the state should increase the current funding and restrict universities from overcharging the learners.
2. Socio-Economic Inequality in the Current System
Socio-economic inequality is the single most significant predictor of educational success in the US. It is increasingly apparent that performance gaps by social class take root from the time of admission to join learning institutions. If the education policies do not address the current socio-economic inequalities, the country will face compounding societal challenges in the years and decades ahead.
Currently, the American colleges and universities in higher-income regions see the benefit of higher tax revenues along other benefits enjoyed by these students. To address the issue of socio-economic inequalities, the government should introduce measures towards ensuring resource allotment is equalized. That way, all students can equally benefit from the country’s wealth. This creates equal opportunities regardless of one’s race, nationality or gender.
3. Excessive Student Loan Debt
Students who aspire to join colleges for higher education are unable to do so, citing fear of getting into a student loan. A study has shown that excessive student loan debt may affect the student’s career choice, and diminish quality of life. The excessive student loan debt is because of the rising cost of education. In the end, students who do not have any hopes of being able to repay the student loan are unable to access a college education.
Conclusion
There is an urgent need to change the paradigm or else the US education system will not serve its original purpose. Students, who are not able to join the colleges and universities in the US, are seeking alternatives, joining schools within the European Union and the United Kingdom, where the cost of education is affordable.
- Jason D. Delisle (2019), Examining undergraduate borrowing by income, 1995–96 to 2015–16, AEI
- Timothy R. Ulbrich, and Loren M. Kirk, (2017), It’s Time to Broaden the Conversation About the Student Debt Crisis Beyond Rising Tuition Costs. American Journal of Pharmaceutical Education