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!