Abstract
This report will focus on the key areas which lead to the rise in cost of higher education. (Button, H. & Provenzo, F 76).It will as well support the fact that the cost of education is being controlled by the rate of completion and the administration work. This report will address further the benefits of reducing the costs of higher education. (Button, H. & Provenzo, F 234). It will also touch on the ways in which this can be done in an effective and clear manner. This will not leave out the fact that the cost of higher education at a particular time is being dictated by the prevailing economic conditions. (Button, H. & Provenzo, F 134).
The rise in the cost of tuition revenues as well as the rising expenses has greatly been cost by bad economy and poor demographic conditions. (Button, H. & Provenzo, F 98). It is argued that if this were in the business world, business owners are forced to reduce their cost of production to cope with the situation. However, this cannot be applicable to education in that we focus on quality than the cost when it comes to education matters. It is clear that this has affected the entire sector of education which includes administration costs, increasing compliance and regulatory requirements, and heightened competition across the education sector.
Archibald, Robert B., and David H. Feldman. "Explaining Increases In Higher Education Costs." Journal of Higher Education 79.3 (2008): 268-295. Academic Search Premier. Web. 11 Feb. 2013.
According to Archibald and Feldman, the cost of higher education has been increasing significantly. They support this by using Bowen’s revenue theory and cost disease theory that is based on firmer behavioral foundation.(Button, H. & Provenzo, F 33).Their analysis progresses by investigating the relationship that exists in the cost of education and quality of education. This includes a focus on the similarity and differences of the education industry to other industries. (Button, H. & Provenzo, F 89). In this article, the assert that student cost of higher education traces a time path, which is similarly followed by personal service based industries that are reliant on higher education labor. However, the path is influenced by the adopted policy consequences.
This article is effective in conducting a detailed research on cost of higher education. This includes collection and analysis of such data while using theories that are supported effectively. As such, Archibald and Feldman work will be used in the explanation for the increment in the cost of higher education. This will involve citation of the theoretical and mathematical data support on the trend in the increment of higher education cost.
Murchison, William, and Svetozar Pejovich. "Problems Of Public Higher Education In The Usa: Causes And Consequences." Economic Affairs 32.1 (2012): 68-71. Business Source Complete. Web. 11 Feb. 2013.
Murchison and Pejovich article is based on the causes and consequences of higher education in United States. They cite low graduation rates as one of the consequences of higher cost of education. On the other hand, the article claims that adoption of new policies, which are focused on encouragement of admission standards tightening, would ensure financial aid is provided to needy students and earlier graduations are recorded. (Button, H. & Provenzo, F 22). The article cites that students numbers, financial aids problems, economic value of possessing a university degree and major choice are the key issues, which affect the higher education. However, these may be addressed effectively through adoption of institutional reforms that focus on tight admission measures, financial aids, and earlier graduations for students.
The article is effective in identifying the causes, consequences, and how to address the issues of higher cost of education. Therefore, the article will be used to support the causes and consequences of higher education costs. (Button, H. & Provenzo, F 64). Further, the article will be used to provide a recommendation on what needs to be done in order to reduce the inherent higher cost of education. Finally, the article will be used to explore the internal status of education systems in university in terms of admission of students and provision of financial aid.
It should be noted that administrative cost is not the only way in which the cost of higher education is raised. (Button, H. & Provenzo, F 39).Regulatory and the compliance cost also continue to raise in schools thus results to higher costs. As mentioned above, competition among the higher places of learning in terms of research and training can be another factor. The most ironical thing is that the latter does not significantly improve the quality of education hence if possible, it should be a voided. However, if it has to be considered then it should be treated as a primary goal. (Button, H. & Provenzo, F 12).
If the loan board is not able to raise money for all students, then bright and needy students should be considered. (Goldin, C. & Katz, L 66). Higher education's formidable appetite for revenue, coupled with the slowdown of many economies and thus of tax revenues, plus in some countries a reassessment of priorities, not necessarily to the advantage of higher education, will place universities and other higher educational institutions and the governments that support them in an increasing financial squeeze. (Goldin, C. & Katz, L 76). Parents cans also be assisted to pay school fees by giving them non-taxable revenue. This should be applicable to all donors and the students as well. The higher education also needs support from donors, the public and from well wishers.
Conclusion
It should be noticed that post secondary education is very important in the modern world. Therefore it is important to have it despite the rising costs. (Button, H. & Provenzo, F 34). The above mentioned sources of revenue for higher education if put in place then this problem will be solved to a greater extend.
Work-cited
Axtell, J. The school upon a hill: Education and society in colonial New England. London: Yale University Press. 1974. Print.
Button, H. & Provenzo, F. Jr. History of Education and Culture in America. Prentice-Hall, 1983.Print.
Goldin, C. & Katz, L. The Race between Education and Technology. The Belknap Press of the Harvard University Press. Cambridge, MA: 2008.Print.
Paradise, Tony. The High Cost of Higher Education. Web. 11 Feb, 2013.
