For the students attending college and university in the 21st century, the associated financial challenges are becoming more and more of a pressing issue. The cost of postsecondary education is on the rise, with no stopping in sight. Even with financial aid available to students, it’s becoming less of a bonus and more of a necessity as time goes on.
Scott Patrick Carson, the founder and CEO of MRP.io, has some thoughts on the financial challenges that post-secondary students face, as well as the underlying factors causing these conditions.
Supply and Demand
One of the more noticeable factors regarding the rise of tuition fees is attendance. Today, post-secondary attendance is higher than ever, and it is precisely this level of demand that is exceeding supply. Attendance levels are so high that the costs associated with post-secondary education are rising faster than inflation and average student wages, and this will only continue to cause students difficulties with each passing year.
In terms of supply, says Scott Patrick Carson, with the adjustments made for inflation, the amount of state funding granted for post-secondary institutions has gone down over the decades, and the combination of a steadily-rising supply with a steadily-dwindling demand represents a challenging combination for students.
The Evolution of Post-Secondary Institutions
It is also important to consider the ways in which post-secondary institutions have changed over the years. What began as a much more modest form of education has evolved over time, with the addition of many facilities and amenities that were simply not available before. Whether it is a swimming pool, various forms of healthcare available on-site, or other additions, all of them have an associated cost, and often times post-secondary institutions are hesitant to make cutbacks on them unless absolutely necessary. It is not a situation with a simple solution either, as such facilities have made a strong impact towards increasing the quality of life for students.
Scott Carson Explains the Current Financial Aid Situation
As previously stated, financial aid for students has, over the years, become more and more of a necessity for students wishing to procure a post-secondary education. Whereas in the early days of colleges and universities, scholarships, and other such means of aid were essentially unheard of, nowadays they are the polar opposite, with students needing as much support as they can receive, unable to shoulder the burden of a costly education alone.
Unfortunately, financial aid can also be a contributing factor to tuition costs. Post-secondary institutions have the freedom to adjust prices based on factors such as financial aid. If a student receives aid, for example, the institution can, in turn, provide less funding on their end towards them, resulting in tuition costs not changing at all.
Scott Patrick Carson is a worldwide leader in the distribution of medical aesthetic devices. With a highly developed insight and understanding of the industry, he has radically changed its course, as well as expanding the opportunities available for practitioners worldwide.
In addition, Scott Patrick Carson has recently initiated his own scholarship program, the Scott Patrick Carson Scholarship. For any students currently enrolled in post-secondary in the U.S. or Canada, this program will offer two scholarships consisting of $1,000 USD each.