Tuition Is Becoming Impossible to Afford
Posted on April 8, 2009
Filed Under News, The Daily Prereq | By Jessica Gross
College tuition has gotten all out of whack. In a Huffington Post piece last week, University of Michigan senior Andy Kroll maintains that tuition is swelling more quickly than almost any other index, including household income, the Consumer Price Index, and medical care. He presents some astounding stats:
- Over the past 30 years, the average cost of tuition, fees, room and board has increased from $7,857 to $15,665 — nearly 100 percent. Median household income, meanwhile, has increased 18 percent.
- To send their kids to public schools, low-income families now pay, on average, 55 percent of their incomes; middle income families pay 25 percent; and upper-income families pay 9 percent. The 2000 figures were 39 percent, 18 percent, and 7 percent, respectively.
- Major public universities surveyed in a report by The Education Trust spent $257 million on financial aid in 2003 for students from families with annual incomes of more than $100,000, and just $171 million for students from families with incomes of less than $20,000 a year.
For more, read Kroll’s piece here.
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