A year at the prestigious Yale University will cost an average of $38,300 (collegeboard.com). Many students who deserve to attend this school may miss out due to cost and lack of financial aid. Rising college costs could put higher education out of reach for the average American. This article will examine the reasons behind the steady rise in prices, the legitimacy of a college education, and why recent college graduates have difficulty finding jobs in this challenging economy. College education is now as necessary for success as higher education was. in the 1970s according to the labor sector. In 1970 only 40% of high school graduates went to college. Today, 70% of high school graduates attend some sort of post-secondary education (“Are too many students going to college?”). This percentage has increased because a high school diploma is seen as a typical right of passage. In addition to that, in 1970, 7% of Americans had a college degree by age 24. By 2008 that percentage had risen to a solid 29% (“How much does college cost and why?”). As more students graduate with higher education degrees, college degrees are less special and more prevalent. Therefore, one would think that tuition fees would decrease (saturation of a market). However, this is simply not the case. The price of college has increased for a variety of reasons. Public universities have had to raise tuition because their state has a limited budget. State and local funding took a hit starting in the 1908s. For example, in 1989 the University of Virginia received 33 percent of its budget from the state. In 2009 it received only 12% from the state. Another statistic shows that since 1980... middle of paper... Cohan, Peter. "Is a degree from a top-tier college worth the price? - DailyFinance." Business news, stock quotes, investment advice - DailyFinance. 30 December 2010. Web. 06 February 2011Collins, Hugh. “Young graduates struggle to find work.” Business news, stock quotes, investment advice, - Daily Finance. January 9, 2011. Web. February 3, 2011. "How Much Money Does College Cost and Why?" Left-wing corporate observer. January 29, 2011. Web. February 1, 2011. Kelley, Rob. “Increasing university costs; Public Universities See Biggest Increase - October 18, 2005.” Business, finance and personal finance news: CNNMoney.com. October 17, 2005. Web. February 1, 2011. Kirst, Mike. "Synthesis." Stanford University. Network. 03 February 2011.Vedder, Richard. “Why did 17 million students go to college?” Home- The Chronicle of Higher Education. The Chronicle of Higher Education. 08 November 2009. Web. 03 February. 2011.