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College Costs Rising

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It’s no surprise that college costs are rising. This year, tuition at private colleges increased 5.9 percent while public institutions increased 7.1 percent. Why are costs rising so much? Here are a few reasons:

* States are tightening their budgets, so public universities are feeling the pain.
* Colleges offer health care to students, and the cost of these benefits is rising.
* As we’ve ridden out a downward trend in the economy, charitable gifts to colleges have dropped.
* With the slow recovert, investments held by the colleges are generating less income.
* Scientific (and other) fields require the latest technology to remain competitive, and these resources can be expensive.

There are more reasons. The lifetime salary benefits of a college degree may outweigh the debt stigma, and advisors seem to suggest putting your own financial goals ahead of saving for your children’s education, so it pays to consider scholarships and grants when attempting to afford the degree.

Updated February 6, 2012 and originally published October 20, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

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avatar Financial Baby Steps

This is one of the reasons that I’m starting to save so early!

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