Saturday, October 30, 2010
College Costs Up Again
Here's some disheartening news for all of us undergraduates: college costs are on the rise again. The College Board just released a report showing that the prices of tuition and fees are increasing this year. At four-year private colleges in the US, the average tuition rose to $27,293, a 4.5 percent increase over last year. Public four-year universities saw an increase in average tuition of around 12%. These schools in particular face shrinking budgets because states currently have to cut back spending, so the difference is being made up in tuition. The fact that costs are rising really comes as no surprise - they have been for decades. However, while many of us were counting our blessings that we weren't out facing the job market just yet, it seems that college is not offering as much protection from the economic downturn as we might hope.
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The rise of college tuition is becoming a major problem for many families. The U.S. encourages education and expects everyone to finish schooling, but how is that possible with all the increased costs? Many students will already have loans too. The American Opportunity Tax Credit has helped numerous families, thanks to Obama, but it seems like the rise of tuition will always be a problem to families; especially in these times.
ReplyDeleteIt's frustrating to think that we will likely have trouble paying off the loans too because of the lack of jobs that will be available. This makes graduate school seem all the better of an option but at the same time grad school prices haven't exactly been declining. Just like our national deficit is one of our biggest security threats individual debt will make starting out as first time home buyers and investors all the more strenuous.
ReplyDeleteThe increase in tuition can pose a big problem. How do we expect to get our economy back on a roll if we are making it difficult for the future generations to become educated? We need educated individuals to set this economy back on the right track and keep it on that track. Loans are becoming increasingly difficult to attain, which again, makes it even more difficult to go to or continue school. In addition if the US expects to hold it place and status amongst other world nations, we as a country need to produce smarter individuals
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