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Every one of us, at some point in their life, want to go back to being the kid wewere in school to avoid the many tensions and challenges we have to face continually in life. But maybe kids these days, when they grow up would not want to go back in time and definitely not back to their university days!

Why? Simply because of the major monetary crisis one has to go through. One day you were the kid who graduated from high school and the next you are thrown into a situation where you must make your own arrangements for finance if you want to study in college. Yes, paying for college and university is a major sore today. In fact studies show that today the cost of health care and higher education is at par. Soon education cost might even go beyond the cost of health care.

As a student who goes to university, one can be sure that they are not going to save much. In fact what they earn while studying and after they graduate might be substantially lesser than the loan amount they have to pay. Worse still, they continue to pay higher rates of interest rather than paying off the loan amount taken.

Decisions made while seeking university admissions are mainly based on emotions while the decision to enter a particular university for its merits’ is taken practically. So where does one go wrong? One goes wrong when their child shows great potential or expresses a desire to attend a particular university. To fulfil this desire, parents tend to take drastic steps.

The student in question may work through summers and other holidays, with part time jobs through the semesters to make sure they save a decent amount towards loan repayment. But is this sufficient? No. this is because everything today comes with many hidden costs.

There is tuition to be paid for, the cost of living and some amount of spending. All this adds up to a lot when calculated along with the fees to be paid each year. It is becoming increasingly difficult to solve the fees problems. A recent report stated that now when the students and parents are finding it very difficult to match up to the fees charged by universities, the educational institutions will have to sit up and take some steps in solving these issues.

This is because even if the students manage to pay the fees, they will never be able to save up enough to pay it back. This affects the economy on the whole. And if, on the other hand, the students stop going in for higher education because it is too expensive, then again it will affect the economy of the country.

Therefore, the government and the education system on the whole, should take corrective measures to solve this issue. Every student who studies further will work, eventually in the interest of the country’s economy. Therefore, the government needs to take responsibility now.