Strategies that can help make Education Cheap
Strategies that can help make Education Cheap
One of the strategies that can be employed to cut the high cost of education is offering scholarship opportunities. The government can do this by meeting the expenses of students from needy backgrounds that have shown good academic performance. On their part, learning institutions should seek donor funding to help meet the educational expenses of students from needy backgrounds with good performance. The significance of scholarship opportunities, in this case, is they will encourage these types of students to learn. The most important thing to note here is that even though scholarships will end up benefiting a few students since not all students are awarded these opportunities, they will have solved part of the problem (Swanson, 2016).
The second most appropriate strategy that can help cut the cost of education is offering grants. This refers to money that students do not need to return. The best body to offer this kind of money is the government. What the government can do here is increase tax on all goods and services. The added tax will help generate enough funds that are needed to fund the educational program of offering grants. The increase, in this case, will be slow since it will be aimed at funding one area of the economy which is education. Grants will enable students to get a source of income to meet their expenses (Burney, 2018).
Third, the cost of education can be cut through providing cheap accommodation. This should be mainly done by the learning institution. What these institutions need to do here is increase the number of apartments in which the students are accommodated. One of the challenges facing students at this point in time is high rental rates as a result of living in expensive apartments. These apartments are expensive for the reason that the owners take advantage of the high demand as a result of the high student population. What the owners of most accommodation apartments around learning institutions are mainly interested in is making a profit (Biden, 2016).
The fourth most appropriate strategy that can help cut the cost of education is letting the government subsidize tuition fees. If you ask me, this is the best strategy of all. One of the reasons for this is that it will relieve all students the heavy burden that they have in regards to payment of tuition fees. This does not, however, mean that such strategies as scholarship and grant opportunities are useless. The significance of scholarship and grant opportunities is that they help to lower the high cost of education further. They, for example, lower tuition fees below the level reached by the government subsidy (Gorski, 2017).
Other than the government subsidizing tuition fees, the cost of education can be cut through offering student loans at very low interest rates. The interest charged on the student loans has been slowly growing over the years. The justification given for the slow growth is inflation. If the rate of interest on student loans will be left to continue, this will make many students avoid taking these loans. The impact of this is that they will not be able to meet most of their college expense. Another strategy that can be employed to cut the high cost of education is letting the government fund student researches (Herbers, 2015).
