Why are universities so expensive – We will all agree that universities in recent times are becoming more expensive than they were before. From federal universities to state universities to private universities can be outrageously expensive when it comes to fees and other required payments involved in learning in a university.
The sad truth Is that several factors make almost all universities expensive and hardly affordable. Hence, in this article, we will look at some of the factors responsible for costly universities.
What Is a University?
A university is a high-learning institution where students study for degrees, and certificates and research projects are mainly carried out. University plays a better role in the academic lives of most students as they get to garner the knowledge required to guide themselves in the real world.
And it is essential always to know that illiterate people and those who are learned may never be the same since one has undergone a formal learning process, whereas the other has not.
Why universities are so expensive?
Present-day schooling comes with so many expenses, from entry fees to course fees and lots more. In the immediate sense, universities are not supposed to be so expensive, but there are some factors responsible for the rise in cost, and below are some of them listed.
1. Expensive lecturers and staff salares
Most lecturers and staff need an increment in their salaries, and it is evident that this particular factor is responsible for the spike in learning costs. Schools disburse lots of money monthly to their staff, workers, and lecturers per month, and there is no way it wouldn’t enhance some effects.
The lecturers, staff, and workers also have families. They need to attend, so they need the university to pay them handsomely so they can perform their assigned jobs perfectly and accordingly and still be able to find their families and loved ones. Hence, as the prices of salaries of lecturers, staff, and workers increase, the cost of learning also increases.
2. Cost of high-quality facilities
Education itself has always been known to be transforming from one level to the other, including the facilities used in teaching students and carrying out projects and research works in universities.
New technological equipment is being used in school laboratories to perform experiments for school work, and in most cases, it can be costly to purchase for student use. This can also be one of the fundamental factors that can enhance the learning cost.
3. High administration cost
Every higher learning institution needs money to operate. They all need funds to run the administrative processes of the school. And due to the high cost of materials and equipment, more funds are needed to settle bills for the equipment required to run the school activities successfully.
The high cost of materials leads to high costs in the administrative process of higher institutions, leading to an increase in the cost of learning in most universities. The process moves in a series from one spot to the other.
4. High cost of maintenance for facilities
Facilities in universities mainly used to carry out school works and projects need high maintenance, and the cost for such maintenance can usually be alarming as they are expensive.
In this aspect, the school management may decide to increase students’ fees to raise funds for the facilities maintenance. Hence, it leads to a gross expectation of the cost of university schooling.
5. The government provides less funding
Government hardly considers the affairs of the universities. They provide little or no financial support to school management, leaving universities to fund themselves alone.
In this case, most universities sort out perfect ways to find the administrative activities of the school by employing an increase in the cost of fees to keep the school functioning and in its best position.
6. Demand for special programs
Most universities host special extracurricular activities, events, and programs to enhance student learning. And a high demand for such programs can cause a ripple effect on fees students must pay monthly or annually.
Schools also need colossal funding to carry out extracurricular activities, events, and programs; in the absence of that, several other effects may get involved.
7. High cost of accommodation and campuses
Increases in several different things, such as lecturers, staff and workers’ salaries, and high administrative costs, can, in turn, lead to the high cost of accommodation and university campuses which may seem obviously unfair but simply inevitable.
As a student, you will need accommodation, whether within or outside the school premises. The cost of accommodation can be prohibitive, leading to an unhealthy schooling experience due to the inflation in the cost of things.
8. Generous scholarships for overseas students
Some universities offer their students scholarships annually to further their education in any part of the world with findings from its private pause and with little or no financial aid or personality, which in turn leaves the university to be faced with financial problems and instability.
The university will have no other choice than to fund its scholarship projects by hiking up the cost of learning intentionally to generate enough funds for its projects with both parents, guidance, and students being stung by the painful effect.
Disadvantages of Expensive Universities
There are some disturbing disadvantages attached to expensive private, state, or federal universities, which are listed below.
1. You are not guaranteed a job after graduation
As a student schooling in an expensive university, you are not guaranteed any job opportunities after graduation. The economy can suddenly turn out to be unfavorable, and it may take a long time for you to land your first job even after many years of graduating from a university.
It is painful to see most youth still seated in their houses due to a lack of employment opportunities despite passing through a university that recommended they pay high school fees.
2. Students get stressed
In a situation with a high learning cost, most students will feel worn out as well as their guardians and parents. More money will be needed to train kids at the higher institution level irrespective of the economic and financial status of the economy.
3. You will graduate with a lot of debts
The high cost of learning is a significant reason why some students graduate from school owing lots of school bills, and the worst part is that they may not even have the sufficient money required to pay up their debts.
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One Comment on “Why Are Universities So Expensive? 8 Reasons & Answered”
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