Around the nation, colleges and universities can vary in many different ways from the size of their educational focuses. The one thing that they all have in common is the inconvenience of tuition prices. The price of receiving higher education is rising around the country and this has lead to a heavier dependence on financial aid. Longwood University is certainly no exception to this trend. In this modern society, a college degree is mandatory for a successful career in any field. One has to wonder if there is a more efficient way to aid students’ education that does not result in large sums of debt after graduation.
A fairly common way to reduce the cost of college tuition is to attend a school that is in the state of which the potential student is a resident. At Longwood, the tuition price of a non-Virginia resident is approximately $7,000 more than it is for a resident of Virginia to attend. Though this is common among most top Virginia state schools, Longwood ranked among the Top 5 highest tuitions prices for public universities in 2013-2014. Longwood University’s tuition price has also increased by around $400 to $500 each year, over the last 5 years.
The Office of Financial Aid at Longwood does try to give students a variety of useful ways to assist in paying for their education. The Office of Financial Aid offers grants, scholarships, loans, an education grant and a work experience system. The majority of students use loans, which is the most common resources utilized by students. When Shawn Clements, loan counselor in the Longwood Office of Financial Aid, was asked what the average sum of a typical student loan was, she replied, “It is difficult to determine an average sum, because every student’s situation varies.” The amount of aid given by the school depends on what amount a student or their family provides. Most financial aid cases are very specific to the individual receiving the aid, and plans are created to best match their financial situation.
For the most part, the ultimate goal of financial aid is to help students pay for their education. While it does provide education for students, it also hinders many in post-graduation life. The price of college is looked at as a good investment in terms of future benefits and quality of life. In the present day economy, getting a job immediately after graduating college is not guaranteed. As it seems difficult enough to get a job, it is unlikely that it will pay enough to make up for ongoing student debts.
The good intent of financial aid is certainly not in question, however, the rising cost of higher education is. Schools everywhere are seeing an increase in tuition year after year, and unfortunately it shows no sign of slowing down. This is quite concerning to incoming students, and over the next five to ten years, the price of tuition could be significantly higher than it already is today.
Financial aid will be more prevalent than ever before and hopefully a more affordable student oriented payment system will be developed. If not, the future average American family might not be able to provide the necessary funds for a college education. People are going to continue to attempt to find alternative ways to pay for a college education. This nationwide issue can be resolved in a financially efficient matter. For now we will just have to wait and see.
