Student Loans
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The main difference between private and public colleges is how they are funded. Public colleges are funded directly from the state, while private colleges are funded by tuition. One can expect to have a larger class with public and a smaller class with private. This definitely impacts the students individually. One may say that they are paying extra for the one-on-one help. However, in the end they are both getting their degree. Everyone is different and for some that doesn’t make a difference with where they end up, so why spend so much more money?
Some people hold the students responsible for student debt. Students are responsible for their future; however colleges and the government allow the loans. The student has to determine their future with an immediate risk. Is it worth the cost? How much should I take out? Can I pay this loan back? Which one do I pick? There is no one right answer. No one can be 100% sure of their future. If student loans were really supposed to help students be successful, there wouldn’t be one trillion dollars in student loan debt according to Visual News. Bruce Watson, author of “Why Does College Cost So Much… and What Can You Do About It,” states, “A large fraction of the increase in tuition comes from a drop in state funding for higher education.” The average tuition is $30,000, the average interest rate is 3.4% according to, “What’s Driving College Costs Higher,” and the average state funding for college is 3.1% according to, “State Funding Upturn.”