College and the American Dream

In fact, it is almost impossible to achieve the ‘American Dream’ without some college education, and for many, receiving a college education has become a dream in itself.

A college education is an important part of the ‘American Dream’ and recent polls indicate that 90% of parents agree that college is an essential part of the ‘American Dream’.  

Comedian Gorge Carlin shares his view of education and the American Dream


Parents are convinced that a college education can make a positive difference in their children’s life. Other poll results demonstrate this belief in education:

Concern over the increasing cost of college

While most parents believe that the dream of a college education is obtainable they are concerned about the constantly increasing cost of such an education. Unfortunately for students and parents, the cost of college is increasing at a time when obtaining a college degree matters the most. Survey results show that:

College savings unlikely to be sufficient

Parents would like to minimize the financial burden placed on their children when they attend college. They want to help with college expenses by either paying all or the majority of college tuition. Unfortunately, these aspirations do not match the reality of their savings accounts. A nationwide survey of 1,000 parents of pre-college kids showed the following:

The cost of a college education is so large that many students can not pay for it entirely themselves and must receive some kind of financial aid. Such financial aid comes in the form of scholarships, grants, or loans. But this aid rarely is enough to cover the entire cost of college. For example the College Board estimates that:

 

Obviously, many parents will discover that even with grants their savings is not enough to cover the cost of college. Parents will need to consider many savings options and begin saving for college early.  Despite the difficulties, about 80% of parents also believe that it is financial possible to send their kids to college.

The ‘American Dream’ is the promise of prosperity, success and social advancement if one works hard. In today’s world a college education is a crucial part to achieving the ‘American Dream’ and improving an individual’s success.