2008 Woodie Awards
Families emptying pockets for tuition
Sarah Vernon '07
Issue date: 9/15/06 Section: World
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It is now more difficult than ever for the average American family to send students to colleges. A new report issued last week by the National Center for Public Policy and Higher Education showed the affordability of higher education has dropped steadily since the early 1990s. According to the study, 43 states deserved failing grades for college affordability.
The report measured the total cost of higher education for students-taking into account financial aid-against family income. While on average median family income has risen 127 percent since 1992, college costs have increased by 375 percent. These increases have made it more difficult for all but the wealthiest of American families to send their children to college.
In Rhode Island, which counted among the states that received a failing grade on affordability, families must dedicate 39 percent of their income for public four year universities and 85 percent for private institutions. Both figures have risen significantly since 1992.
For lower income families, the burden of college costs is even greater in relation to income. While college tuition in the past decade has risen, financial aid for lower to middle income students has not increased at the same rate according to the report. Many low-income students choose not to prepare for college as a result since it is not always a financially viable option.
The decrease in affordability throughout the past decade has contributed to the growth of student debt as well. According to the report, the generation of students currently enrolled in college is in more debt than any generation before it. This large load of debt that students carry to attend college is a deterrent for many who wish to go on to graduate school and continue their education.
Providence College, like many other comparable institutions, experienced a hike in tuition last year; raising total costs to $38,725 for students who live on-campus. PC however, is still cheaper than many other private Catholic institutions. Boston College, Holy Cross, Villanova, and Fairfield University all charge their students at least $40,000 a year or more to attend college while living on campus.
The report measured the total cost of higher education for students-taking into account financial aid-against family income. While on average median family income has risen 127 percent since 1992, college costs have increased by 375 percent. These increases have made it more difficult for all but the wealthiest of American families to send their children to college.
In Rhode Island, which counted among the states that received a failing grade on affordability, families must dedicate 39 percent of their income for public four year universities and 85 percent for private institutions. Both figures have risen significantly since 1992.
For lower income families, the burden of college costs is even greater in relation to income. While college tuition in the past decade has risen, financial aid for lower to middle income students has not increased at the same rate according to the report. Many low-income students choose not to prepare for college as a result since it is not always a financially viable option.
The decrease in affordability throughout the past decade has contributed to the growth of student debt as well. According to the report, the generation of students currently enrolled in college is in more debt than any generation before it. This large load of debt that students carry to attend college is a deterrent for many who wish to go on to graduate school and continue their education.
Providence College, like many other comparable institutions, experienced a hike in tuition last year; raising total costs to $38,725 for students who live on-campus. PC however, is still cheaper than many other private Catholic institutions. Boston College, Holy Cross, Villanova, and Fairfield University all charge their students at least $40,000 a year or more to attend college while living on campus.