College is expensive, the most expensive that it's ever been, and increasing each year. It was recently estimated by the College Board that the average cost of tuition and fees were about $9,650 for in-state public schools, and around $33,480 for private colleges, with out-of-state students paying just under $25,000 to attend a public college. With these astronomical college prices, the average parent is finding themselves stressed out, because they want to provide their children with a college education, but can't afford to do so.
The cost of education is an issue that sits pretty high on the priority lists of democrats. The debates about what presidential hopefuls plan to do about these high costs, specifically around how they plan to spend tax dollars to alleviate some of the financial burdens that families face, have just begun. The most controversial dilemma which the presidential candidates face, is whether these tax benefits will extend to rich families, who can afford to send their kids to school. Amy Klobuchar and Pete Buttigieg have taken a stance claiming that they don't believe that these benefits should go to the wealthy, Moreover, their critics have claimed that rich families are most deserving of these benefits, because they spend the most money on college.
This claim has been made, based on the fact that the government has different benefits in place for low-income families, to help with the cost of college, which means that they already may be paying close to nothing. Some feel it's unfair, because the high-income families are the most burdened with the cost of college. While it's true that there are some social programs that may help students, who come from very low-income families, pay for the cost of college, these social programs have very little benefit for families whose total household income is over $35,000. This means that if your household has a combined income of $50,000, you'll have to rely mostly on loans, if you'd like to send your children to college, and still manage your household expenses.
This leads to situations where someone from a middle-income home gets to go to college, but ends up with high levels of debt after graduation. Which then, they are stuck with paying off their tuition for years after they've completed college, versus someone who comes from a higher-income family, who had to pay the same college tuition, but did so out-of-pocket. Furthermore, rather than leaving college in debt, they simply left with a lower family net worth.
This small difference in scenarios, can make all the difference in choosing a career path. Future wealth that gets accumulated, and stress levels which are experienced, during and after college, can't be compared. The cost of college should be affordable for everyone, and no one should have to break themselves for a college education. Though, there are definitely people who are more in need of a break than others.