Children working their way through the systems of education in the U.S. eventually have to make a decision about life after high school: college or no college?
The financial stresses of university education weigh heavily on both students and their parents. Year after year, costs continue to rise, and as result enrollment continues to decline.
Brendan Pringle of The Washington Examiner reports the following:
“College is expensive — so expensive, in fact, that most college students can’t even find enough money to fund it without a creditworthy co-signer. According to a recent survey from LendEDU and FundingU, only 45 percent of students were able to finance their college education on their own in the 2017-18 academic year.
Even worse, the survey found that 51 percent of students who couldn’t finance it dropped out, and nearly 40 percent of affected students reduced their course hours. Unsurprisingly, 79 percent of those struggling believe this could (or will) delay their graduation date.
Costs have skyrocketed for both public and private colleges. The average cost of tuition and fees for a public four-year college is more than $9,400 per year (for in-state students), and the cost for a private four-year degree exceeds $32,000. The cost of tuition has grown twice as fast as other consumer goods over the last four decades.
Unfortunately, middle-class students tend to be hit the hardest by this phenomenon. Colleges tend to focus their financial aid dollars on low-income families, leaving middle-income students unable to meet the low-income cutoff for most financial aid programs at the college level and at the government level.”
TO CLARIFY THE WASHINGTON EXAMINER’S REPORT as quoted above, the average tuition cost is $9,400 per year for a public four-year college, and over $32,000 per year for a private four-year college.