January 18, 2018

They say… College costs are rising at three times the rate of inflation

They say college costs rising at 3x inflation - photo Copyright 2011 Rick Sherrell

The cost of attending college is rising three times as fast as inflation. That’s what they say at FinAid.org. In support of that claim InflationData.com reports that the overall inflation rate has increased 107.05% since. That’s why we pay twice as much for everything. In that same time frame tuition increased 466.80%. Wouldn’t that mean we pay four and a half times as much to get educated? Something about that doesn’t seem very smart.

The result? A college education is predicted to cost $120,000 by 2015 and today our college grads are saddled with over $40 billion in no-way-out student loan debt. And in case you don’t know it, your parents are only on the hook if they co-sign for you. That means that YOU and no one else is ‘stuck like Chuck!’

The good news is there are a handful of schools out there are offering things like temporary tuition freezes and one-time tuition cuts. Some are even offering to freeze your tuition rate for all four years or have put policies in place to protect low income students in particular.

Want a free copy of The Student Guide: Financial Aid from the US Department of Education? Call 1-800-4-FED-AID  or write the Federal Student Aid Information Center (FSAIC) at PO Box 84, Washington, DC 20044.

They say it’s expensive. I say be smart!

PEACE.
Rick

 

 

About the Author: Rick Sherréll (12 Posts)

Rick Sherréll is the Blogitor (Blog Editor) here at CampusTalkBlog and agent for the college speakers at Pro Speakers Bureau. In his entrepreneurial life he has been a writer, editor, speaker, trainer, marketer, coach, IT specialist, consultant, event planner, broadcaster, fundraiser and innovator. Find out more at www.RickSherrell.com and www.ProSpeakersBureau.com/about.


COMMENTS:

  1. You have a great point Chris. With the rising tuition costs and shrinking employment prospects, college is no longer a place to waste four (or six) years ‘growing up!’ Considering a less expensive Community College for the first 2 years and taking college credit courses in High School are two smart strategies. Along those same lines, it might also help to PAY ATTENTION in high school so you’re not retaking (and paying for) those same FREE classes when you get to college! Right now DEVELOPMENTAL CLASSES (aka High School Repeat Classes) rank among the top 5 departments and some colleges!
    http://www.campustalkblog.com/whatshot/they-say-developmental-education-classes-rank-among-the-top-5/

    PEACE.
    Rick

  2. The cost of education is going up and the pay out is not what it used to be. It’s important to make the most of your time in college to maximize your investment. College is no longer the place to find yourself, it is the place to refine yourself. This also places importances on community colleges and taking courses for college credit in HS.

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    […] make career choices as a teen.  It’s even hard to make career choices as an adult.  Since the price of college is increasing nearly three times the rate of inflation, we have to be careful not to make any […]

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