And You Get a Loan! And YOU Get a Loan! Everybody Gets a Loan!


Back when I was applying for college and trying to decide where to go, College Board was a website that I was glued to. I remember looking at it attempting to calculate where I could possibly afford to attend and to what extent of slavery my student debt would put me in upon graduation. College Board provided an extensive amount of information ranging from setting up a Financial Aid Profile to using the Net Price Calculator which took into account personal financials in order to determine how much one might pay for college.

College Board was able to mediate between a wide variety of schools and students looking to attend places of higher education. The website features three key PDFs regarding trends in student aid, college pricing, and the benefits of attendance. Education Pays focuses on not only the benefits for the individual attending but also the societal benefits. These are important to consider because they are benefits the government has to gain by assisting in paying for college. For example, society gains increased profits from taxes and higher productivity, with lower unemployment rates and less government funded healthcare. Furthermore, of the population on food stamps and school lunch programs, there are x6 more people without a bachelor’s or higher degree than with. These are extraordinary benefits the government has to gain by having more people attend college. However, it is also important to consider the costs of paying for college. If the government, as of 2012, was paying 36% of funding for higher education, that is a significant amount per student (Baum 45). Thus what happens to the government debt? This is an important factor to consider. Finally, the College Board website features the trends in higher education. Here it is possible to evaluate the different kinds of aid, the average amount of aid per student, etc. As I determine what numbers are most necessary this source will prove invaluable.

The College Board is not considered to be a biased source due to its informational properties and publishing purposes. However, it is important to consider that while loans are nice to receive, there are still profits to be made off of them and thus students end up paying more than the initial costs.

 

 

Sources:

Baum, Sandy, Jennifer Ma, and Kathleen Payea. “The Benefits of Higher Education for Individuals and Society.” (2007): n. pag. The College Board. Web.

“Trends in Higher Education.” Trends in Student Aid 2014 (n.d.): n. pag. The College Board. Web.

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