Discounting, Debt and Tuition Increases in Higher Ed

According to the College Board College costs have raised a total of five percent. If admissions rates have been on an increasing rate for many years how could the total cost still be on a rise?

Here are a few statistics for you. Instate tuitions have climbed $400 on average for the 2012 fall semester, bringing the average cost up to $8,655. Yes many would say that this is a moderate increase but in an economic slump this brings more difficulties to already struggling families. Room and board costs have also risen to an average of $17,860. That’s double the cost of a semester at a state university!

The latest study according to the College Board shows that only one-third of full-time students pay the full published price, but with costs increasing the last two years how much longer will it be before more students have to pay that published price?

This brings up the question of whether or not it is worth it to spend your money on a university when one could stay home and attend a lower priced community college. However, according to CNN Money, community college tuition costs have jumped 8.7%. So now what, if we go to college we earn a degree but we dig a hole of debt for ourselves that will in-turn result in years of paying off student loans, possibly taking away most of our income.

The only way to solve this seems to be either do not attend college unless you can pay for it or find a way to end the tuition madness. Unfortunately, since family incomes have been falling for the last four years, the paying for college aspect becomes less of an option.

So how do we attack the monster that is known as college costs? For one students must work harder and challenge themselves by aggressively seeking good educational value, graduating on time and cutting down on personal costs. In doing this we not only reduce the cost ones family has to pay for college but we also better the nation as our future will be full of brighter youthful minds.

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