Colleges could cut costs to reduce student debt burdenJust in time for graduation season, the nation's unemployment rate is decreasing significantly, making it somewhat easier for recent college graduates to start a career in their field of study.

In addition to the job market looking better for college graduates this year as opposed to the last few years, recent graduates are also facing a hefty amount of student loan debt, which could cause economic hardship.

A recent survey conducted by the Pew Research Center revealed that 94 percent of parents expect their child to go to college, but 57 percent of Americans say colleges fail to provide students with good value for the money they spent and 75 percent of the public believes college is too expensive for most Americans to afford.

Given this context, the Philadelphia Inquirer recently ran an editorial calling on colleges to cut costs to reduce tuition. It singled out High Point University in North Carolina as a school that could eliminate some expenses, such as the free ice cream available from a truck that drives around campus.

Despite criticizing High Point, the editorial acknowledged that reduced support at the state and federal levels have made it difficult for many colleges to operate. However, given the current economic climate, the newspaper said that colleges and universities have to take a hard look at where they can cut costs and make the adjustments necessary to remain viable.
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