College Education Costs Continue To Rise
According to a new report issued by the College Board, four-year public colleges raised fees and tuition by an average of 6.5% last year. The increases at private colleges averaged 4.4% last year.
The report indicates that the price of a college education rose last year – this despite a drop in the consumer price index. While young people continue to seek out and attend higher education, the burden being placed on them and their families is tremendous.
It is remarkable when we consider that during the great recession which the U.S. (and the world for that matter) is just now beginning to come out from – schools have been raising the cost of a decent college education across the board. This could be one contributing factor as to why so many college students these days exit college already saddled with a huge credit card debt burden.
It’s becoming clear that a higher education for some is almost beyond reach. The mood and sentiment in the education field is that some sort of overhaul of our system needs to be undertaken. A good college education is the foundation for a successful life. It’s a shameful situation we have when young people by the thousands enlist in the military and risk their lives to fight somebody else’s war simply to have a shot at a college education.
The report found that the average cost for attending a public 4-year college, including room and board is now $15,213. The average cost for attending a private, nonprofit college is now $35,636. Since 1980, the cost of a college education has risen twice as fast as the cost of living, rising 57% between 1981 and 1986 alone.
On the positive side, according to a companion study released by the College Board, almost two thirds of full-time undergraduate students receive grants. This translates into an overall lowered net cost for a college education.
