As everyone knows, college tuition is rising so quickly you might miss it if you blink. But could it be that the rate of tuition has actually exceeded the rate of inflation? According to Dr. Richard Vedder, it has. Jasmine Evans, a writer for “Diverse” magazine, uncovers, “According to a report by the Delta Cost Project, tuition for a public four-year institution in 1970 was $358 per semester. If tuition had grown in pace with inflation, the average tuition at public colleges would have been $2,052 in 2010. Instead, the average per semester tuition at public colleges and universities was $6,695 in 2010.”
How could this be? According to Dr. Richard Vedder, a Professor at Ohio University, it’s simple. Colleges see no reason to lower their tuition costs, as the competition to get into colleges is too high. Professor Thomas Epenshade, has another theory. When colleges are entirely focused on granting degrees, hiring more staff is essential. With the increase in staff, comes with higher costs, leading to higher tuition.
This dramatic increase in tuition brings many implications. Students who must take out student loans feel pressured to pursue a career that can pay off that debt, but not necessarily what they want to do. Minorities who qualify for financial aid also fall into this pit of debt. This gap between “rich and poor students”, according to Espenshade, can create an even higher tuition jump.
How big is this tuition leap? Over the past ten years, tuition has increased by 42%. Despite the efforts to control tuition, this inflation takes a toll on college bound students every day.
Is there a way students can receive a quality education without having to suffer from tuition costs? Maybe it’s time we take a look at a more technological, distant learning approach.
Check out the article here.