College Cost Benefit Analysis

There’s no escaping the fact that college cost are rising. According to recently released reports from the College Board, most students and their families can expert to pay, on average, from $95 to $1,404 more than last year for this year’s tuition and fees, depending on the type of college. (Collegeboard.com) The United States needs to lower the cost of college tuition; because students and parents have had to pay double the amount of money for schooling then they would have ten years ago. In the past five years, the average cost of in-state tuition and fees at public colleges has jumped thirty-five percent. In the past twenty-five years, the average cost of tuition and fees has risen faster than personal income, consumer prices
Paul Middendorf, 54, Richmond, Texas says, “…. When my first son, now twenty-six, applied for college, he applied for dozens of scholarships but was told they earned too much money to qualify for financial aid.” They had to finance their children’s college education with a mix of savings and federal parent loans. (USAtoday.com) According msnbc.msn.com; a companion report released on trends in student aid in grant aid – money students do not have to pay back – have covered only about one-third of the increase at public four year schools. Students are footing more and more of the bill with private loans from banks and student loans companies. Undergraduate private borrowing grew twelve percent to $14.5 billion in 2006-2007. The rate of increase in total private borrowing for education has slowed, but borrowing has increased over the last decade. Legislators are tired of taking the blame for the escalating price of a college education, and some – mainly Democrats – say they want to resume setting tuition themselves. University leaders argue that the additional money is crucial for attracting and retaining top faculty. (chron.com) Students and families are caught in the