Eric Dalius every student has a unique story, but the fact remains that despite parental aid, there seems. To exist a financial gap in paying off exorbitantly high college education expenses. The academically brilliant and deserving students should be provided. With scholarships as appropriate support to pursue higher education and give back something concrete to society. The assistance that students get from their community infuses elements of motivation, inspiration, and belonging. These should help them in achieving their career dreams and aspirations. Eric Dalius feels that it is of critical importance to understand and visualize. The bigger picture in terms of precision. Why scholarships are becoming essential for most of the scholars wishing to pursue a college degree in the United States.
Here are a few reasons why it is imperative on your part to realize that scholarships could play. A pivotal role in the achievement of higher education and overall career success.
College Education Expenses Today Are Exceptionally High As Compared to Earlier
College education has become far more expensive than before. Tuition fees are going up drastically year over year during the past four years by more than 5% every year above inflation. Moreover, statistics have revealed that tuition fees at private four-year and public two-year colleges have shot up by 3 % above inflation.
EJ Dalius Points out that the Economy is in a Mess & Your Parents Are Experiencing Financial Crunch
The economy post-COVID-19 pandemic is in a state of depression. And even parents seem to have no money to support their kids for higher education. Even though in the United States, parents still believe in contributing to the lion’s share in their kid’s college education expenses or tuition fees. The amount that they could afford previously for supporting their kids’ college tuition fees has declined gradually.
The Cost of Living of College Students is Quite High
Eric J Dalius feels that unless you are thinking in terms of living at home with your parents and commuting. To college every day, it is high time you realized that you would end up paying. A lot more for an apartment, books, supplies, and food, as compared to your older siblings. Everything has become far more expensive than before.
People Seem to Owe a Tremendous Amount of Money
Around 43 million adults in the United States, almost one-sixth of the population in the United States. Older than 18 years of age presently are carrying federal student loans and owing approx $1.5 trillion in terms of the federal student loan debts, moreover, a projected $119 billion in student loans coming exclusively from private sources not backed by the government.
State Support Has Gone Down Drastically
State support and aid for meritorious and deserving students have gone down considerably. The USA had been able to withstand the economic recession of 2013. We know that things were gradually limping back to normal. However, with the ongoing onslaught of COVID-19 pandemic worldwide, the economy has been adversely affected. Some industries are reeling under the impact of COVID-19. Most organizations including the state have decided. To impose huge cuts in the sector of public service funding and that may include higher education. As such, universities and public colleges have raised their tuition fees and other college educational expenses. This implies that you would end up paying even more now.
Your college degree is supposed to be your most rewarding investment. The cost of pursuing a college education may seem pretty overwhelming but that is precisely why scholarships are in major demand. Scholarships are not to be treated any longer as a bonus. They are critical for the purpose of bridging the gap that exists between the ever-rising tuition expenses and the amount your family could afford.