Why College Is So Expensive In America

5,442,480
0
Published 2019-02-06
College in the United States is expensive. The cost of higher education just keeps going up. Tuition costs at both public and private universities have doubled since the late 80s, while accounting for inflation.

"I think that it's so ingrained in your head that you have to go to college, that college is the next step after graduation," said Jarret Freeman, a college graduate with roughly $50,000 in student debt. "I think in hindsight, I see that college is not for everyone."

But a college education is becoming more and more necessary to succeed in today's economy. Georgetown University estimates that by 2020, 65 percent of all jobs will require more than a high school degree.

Students graduate with an average of $37,172 in student loan debt. It all adds up to $1.5 trillion across the country.

Watch the video above to learn how higher education became big business, hear from former students facing mounting debt and explore why it's so important to solve the student debt crisis.» Subscribe to CNBC: cnb.cx/SubscribeCNBC

About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

Connect with CNBC News Online
Get the latest news: www.cnbc.com/
Follow CNBC on LinkedIn: cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: cnb.cx/LikeCNBC
Follow CNBC News on Twitter: cnb.cx/FollowCNBC
Follow CNBC News on Google+: cnb.cx/PlusCNBC
Follow CNBC News on Instagram: cnb.cx/InstagramCNBC

#CNBC

Why College Is So Expensive In America

All Comments (21)
  • @CNBC
    Tell us your student loan story:
  • @kzanbusiness
    You said everything except WHY college is so expensive.
  • @VideoChasca
    I went to college in Mexico and used my degree to get a job in the US and have no student debt. I feel like I hacked the system.
  • @TJSpike
    My personal finance teacher in 11th grade spent a whole period teaching us how the modern college system is a business.
  • @anikevin
    My family makes around ~$25K, we barely afford rent. I'm glad all my tuition is covered by Pell Grants. The system is made so families that make more than $60K are expected to afford college for their kids. I believe that this should be taken in a case by case scenario. The United States is known for being a country where parents kick their children out at 18. I'm really grateful to my mother for providing me a place to live while I finish my studies. I can't wait to graduate and become a software engineer so I can provide for her.
  • @FR0980Y
    This video never really tells you why college is so expensive. They passively mention two or three things and then focus the almost the entire video on personal hardships and bad experiences.
  • Back in the day you were thought to be dumb to go to community college, now it’s a better idea than to go to "real" college
  • It is incredible, students in USA are stressed because of: loans,of getting an high average point on tests and than after they have being stressed so much, at the end of the college they keep being stressed due to debts and mental health problems created during college.....shouldn’t college and universities be an experience that enrichies students and helps them improve their quality of life ?
  • I went to college in my late thirties so my experience is a bit different. My job paid for all of my associates and half of my bachelors degrees as long as I maintained a certain gpa, which I did. As a result, I graduated with around $8,600 in student loans. I paid that off with a couple bonus checks. Needless to say, I'm still with that company and given the current job market, have no plans to leave.
  • @AntiMasonic93
    $350,000 in debt. That person probably went to law school.
  • @WycliffStudios
    Healthcare: Overpriced Education: Overpriced Domestic Public infrastructure: In ruins US Budget: A Trillion DOllars for overseas Military projects!!!!! (Big Brain Time!)
  • @cheyj144
    I’m at a nearby state school where in-state tuition per year is 20 grand. I asked my mom what she paid for college in 2000. She paid $5000 a year for ASU. 20 years later, the price of college is 4 times what it was. If you don’t see how messed up this is, you’re ignorant.
  • Universities in Germany and other EU countries: laughs hysterically
  • When ever I feel bad about something here in Europe, i go to this channel and check how the us is handling it. Than I almost certainly feel better about my situation
  • @johnsmithee6660
    Bill Gates drops out of college: BILLIONAIRE Steve Jobs drops out of college: BILLIONAIRE Mark Zuckerberg drops out of college: BILLIONAIRE I drop out of college: McDonald's minimum wage
  • I quite collage first semester after realizing i had already made around 5k $ in debt. thank you.
  • @Scrunchie_777
    Because college is considered a business in America, much like healthcare and housing. Our society is sick and rotting from within.
  • “Ethnically diverse welcome brochures” 😂 literally every college
  • @Imperial0666
    Everything is too expensive in America. Housing, healthcare, and education are all becoming out of reach. we have a hyperinflation scenario that is being covered up.
  • @waad5497
    I'm from Saudi Arabia where public schools are not only free, but they also pay you to go to school. i was devastated before watching this video but now i feel lucky and grateful. i'm currently in a U.S university and of course, all fees are paid for me as part of my scholarship from Saudi Arabia. i love the fact that the country is investing in citizens' education because this would eventually pay off.