In the United States, the cost of childhood education has risen sharply over the last two decades. The Bureau of Labor statistics released this chart recently and it shows a startling depiction of the quickly rising costs involved in education. The median income is also shown in the chart for comparison. The information was compiled by the Bookings Institute.
Costs such as energy, vehicle prices, gasoline, goods needed for education, computers, and appliances are all shown in the chart. A slope shows the increasing costs associated with these necessities from 1990 to 2013. For many of these items, the dramatic increase has soared above the increase in income. Not included in the chart, but still a factor in many Americans’ lives are the steadily rising costs of housing that are also impacting the location and type of education that children receive.
Tuition and Child Care
Tuition and child care has risen so much that it would not even fit on the chart. Child care and tuition was based on college, private high schools and grade schools, and nursery school or daycare programs for the presentation. These rising costs are deterring many from attending college and private schools, with parents instead opting for public schools or alternative forms of education.
Effects of Rising Costs
The rising costs of education are expected to cause the college graduate rate to plummet. The costs have already begun to severely impact the middle class, decreasing consumer spending and preventing the economy from making a full recovery. In addition to these impacts, parents may begin to turn more towards home and online schooling to eliminate the need for travel expenses for education. The quickly rising cost of education may completely alter the way that children are educated within the next few decades.