Final answer:
Many college students in the United States pay for their higher education through federal financial aid, grants, and loans. However, the cost of education has been rising faster than family incomes, leading to a significant debt burden for many students. Improving the return on education spending and the performance of high school graduates is a primary focus.
Step-by-step explanation:
Many college students in the United States pay for their higher education through a combination of federal financial aid, grants, and student loans. According to the 2011-2012 National Postsecondary Student Aid Study, over 70% of all full-time college students received some form of federal financial aid, while 47% received grants, and another 55% received federal government student loans. The Obama administration also sought to make higher education more accessible by increasing the amount of federal aid available and lowering interest rates on student loans.
However, college tuition costs have been increasing at a much faster rate than family incomes. Between 1982 and 2012, the cost of education at a four-year public college increased by 257%, compared to a 16% increase in family incomes. This has led to a significant debt burden for many students upon graduation, with debt averaging around $29,000.
While the government plays a role in financing higher education, not all spending comes from the government. Many college students in the United States also pay a substantial share of the cost of their education. The primary focus in the U.S. is to get a bigger return from existing spending on education and improve the performance of high school graduates.