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Educational Trends: College Costs in the New Year

By Kristin Gabriel

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Published: 17Dec2008
Word count: 471
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Benjamin Franklin once said - quote - an investment in education pays the greatest interest. A recent New York Times article published on December 3, 2008 talked about the affordability of college in the U.S., and it was based on a biennial National Center for Public Policy and Higher Education report. According to the report, college tuition and fees increased 439 percent from 1982 to 2007.

The average costs for college today, including room and board, miscellaneous expenses such as books and supplies and credits for a degree and no repeat courses, are as follows: - Private College: $ 33,301 - Public College: $ 16,357 - Out of State Public College: $ 26,304 - The inflation rate for college costs is generally higher than that of the cost of living. The rate presently averages between 5 and 8 percent.

However, come to find, there are some colleges that offer students an advantage, including the University of Pennsylvania, where families with incomes less than $40,000 per year will pay no tuition, nor room or board. Penn accepts students based solely on academic and other strengths, not on families' ability to pay. And despite the current economic crisis, they remain steadfast in this commitment to educate the best and brightest young people, regardless of economic background.

The same report also said that during the same time period (1982-2007), the median family income rose only 147 percent. Furthermore, students borrowing money for college tuition has more than doubled in the last ten years, and yet kids who are from lower-income families typically receive smaller grants from the colleges that they attend. This is not so for the students who come from families that are more affluent.

What's more, according to recently released reports from the College Board, most students can expect to pay, on average, from $108 to $1,398 more than last year for this year's tuition. for example, a private four-year achool is $25,143 which is up 5.9 percent since a year ago and a public four-year school is $6,585, which is up 6.4 percent from last year.

About 56 percent of students enrolled at four-year colleges or universities attend institutions that charge tuition and fees that are less than $9,000 per year.

While 38 percent of full-time students enrolled in public four-year universities attend institutions that charge tuition and fees between $3,000 and $6,000.

It seems that private four-year institutions have a bigger range of tuition and fee charges. About 9 percent of all students attend colleges with tuition and fees totaling $33,000 or higher each year.

The College Board website also states that there is more than $143 billion in financial aid available. And, despite all of these college price increases, for most families, a college education remains an affordable option.

Kristin Gabriel is an author and social media marketing professional and works with Rocco Basile of the the Basile Builders Group based in New York. Basile is involved with several charities including Children of the City and the Joe DiMaggio Committee for Xaverian High School.

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