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Just like the Super Bowl is essentially American and Thanksgiving is something that unites every single citizen of our country, so is the ritual of thousands of freshmen arriving on the university campuses. It is not an uncommon sight to find proud parents dropping off their sons and daughters in their SUVs.

As compared to the rest of the world where higher education is a recent phenomenon, America has seen generations of enthusiastic students going through college and completing their under and post graduation. For a successful career in our country, it is essential to choose and graduate from the right college.

There is no question of whether the education offered is worth the money spent on it as a college degree from a reputed institution is a sure shot meal ticket. This was the situation in our country until now.

Universities in America are rated every year by the US News & World Report. This year, ratings included analyzing the question as to whether the college is worth the cost. Today, private colleges charge exorbitant tuition fees that touch a whopping $50,000 a year, an unimaginable amount just a few years back. Our country is certainly in a situation where there is serious doubt among students and parents whether the investment is worth it at all.

According to the magazine, experts feel that the next bubble that is going to crash in our country leading to economic turmoil could be our higher education. Phenomenal rise in tuition fees is a serious warning that should be taken seriously. Of course, there could be a hyped sentiment in this view projected by the magazine. However, the seriousness of the situation cannot be underestimated or under played.

Take for example, the University of Michigan. You go here and you can find groups of cheerful students walking around in their Michigan sweatshirts. The campus is hugely impressive and students go about registering for courses and signing up for sorority houses and fraternity.

The football game held at this university was the opening game of the season. It was held at the lavish and expensively revamped “Big House” stadium that is reputed to be the largest university sports arena in America.

Serious speculation has cropped up some tough questions including the point of spending lavishly on sporting programs and facilities when there is a steady, unmanageable rise in class sizes and tuition fees.

At the University of Michigan, the average cost of cost of undergraduate education including tuition fee and boarding is an estimated $50,000 for out of state students and $25,000 for in-state. Having to study a minimum of four years, this means that out state students will be spending at least $200,000 for a degree. On top of this, there has been an increase of 3% for out state and 1.5% for in state students at this university.

Underlying resentment was evident with the fact that today, universities are not cutting costs but continue to raise fees. Unless this situation is addressed at the earliest, our students have to start looking out for other options.