College Tuition Has Risen 8.3 Percent This Year

From The Consumerist:

College continues to get irrationally expensive, with tuition at public schools soaring 8.3 percent this year, while private nonprofit schools have upped their costs an average of 4.5 percent. According to College Board findings, the average college grad is saddled with $20,000 in loans.

Bloomberg reports the public school tuition hikes are the largest in seven years, and will only contribute to mountains of debt. Total amount of student loans held has approached $1 trillion.

16 Comments

  1. I was talking to a niece last spring whos daughter was about to graduate from a private Catholic college in Minneapolis. She was quite pleased that the girl had gotten grants and scholarships for over half of her cost to attend. Then I spoke to my grand-niece . . . she has $80,000 in student loans!

    My two did 2 years at community college & two at a State U. We owe less that 20k combined.

    1. If it weren’t for community colleges offering 1 to 1 credit ratios at 1/4 the price I’d probably be at least 15k in debt right now, as it is my only debt is from a small repair my car needed a little while ago.

    1. That isn’t the problem. Guaranteed low interest federal / state loans and pell grants aren’t the reason the cost of college is rising. The private loans are and an increasing predatory loan system. The big banks have gotten the federal government to make sure that no matter what, college debt will be repaid. As well respected Private schools are being snapped up by business interests for the sole purpose of getting kids to take out a ton of loans. Everyone makes out, except for the college kid who gets to pay off the loan for the rest of their lives. The irony is this is making our workforce less educated when we need more educated workers! The jobs in the middle are disappearing, you can either flip burgers with no degree, or go for a good job that requires an associates at a minimum.

      Read this:
      http://studentloancrisis.files.wordpress.com/2010/09/student-loan-scheme.jpg

  2. I’m taking continuing professional education classes right now (without the benefit of a school district helping to pay for the costs because I’m only a sub), and I also get ZERO student loans to help pay for my special education certificate. I’ve had to pay everything out of pocket.

    A total of $11,000 will be spent.

    I’m still baffled that I don’t qualify for student loans, considering the push for special education in this country.

  3. The university I go to just got a donation of $32 million dollars to build a new building for the business school…and I had to pay 8 thou for tuition this semester. I guess I shouldn’t complain. The out of state tuition is much worse on the coast. Honestly I’m just happy to be in school. I try not to think about the loans I will have after I finish my masters.

  4. With some of the extreme dollar amounts, I just wonder how many students are using these college loans as “temporary paychecks” to keep themselves in the lifestyle to which their parents (or their own imaginations) have gotten them accustomed.
    As a student myself, I do no see the sense in this requirement to have a mythical “college experience” which requires living in an expensive dorm and taking even the basic courses from the 4-year (when you could save thousands taking the transferable ones at a community college).

  5. I know the reason tuition has gone up so much at the public universities in my state (AZ) is that the state government is in deep shit deficits, so instead of cutting things like funding for the sheriff going after illegals in his spare time, they slashed university expenditures by about 40% over the past 5 years… so tuition has to make up for that. The public schools are funded by less and less public money all the time.

    Oh – but there are bazillions of $$ for new buildings, new labs, more deans, etc. None for tuition or for raises for faculty… they even cut the custodial staff entirely and contract out now. The universities are getting screwed by the states, and have to pass it on because they’re not money-making entities. They’re service providers.

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