Going to college has become so much more expensive these days and the biggest portion of the college costs is made up of tuition and fees. This makes it even tougher for aspiring college students to go to school, especially if they don’t have much financial backing.
Tuition and fees refer to the cost of college classes. The amount of tuition changes based on the chosen academic program, whether the student is in-state or out-of-state, and the number of credit hours.
Some universities charge their students with comprehensive fees, inclusive of college tuition, fees, board, and room.
From 1963 to 1964, the average college cost – including tuition, fees, board, and room – was around $6,966, considering inflation between 2012 and 2013. But by the same time period, this has increased to $17,474. The cost increase in private schools is even greater, jumping from $13,575 to $35,074 within the same period.
The website Scholarships.com reported that college tuition and fees at a state college likely amount to $7,000 per year and around $26,000 per year at a private college. These figures will probably continue to increase with the increase in the enrollment and demand for a college education.
So, why are colleges increasing their tuition?
In the case of public universities and colleges, they might be raising the tuition to increase the professors’ salaries in return, or to compensate for not getting income from non-tuition sources.
Private research universities, on the other hand, either to pay for the growing spending per student or to pay for new student spending and make up for losing non-tuition revenue.
Even if there are some universities that cost around $50,000 per year, including room and board on top of tuition, most of their students are receiving scholarships or some types of financial aid, such as student loans or grants. The students’ families are not expected to shoulder and pay for all these college costs, which is why many universities are offering various forms of financial aid to entice students to go to their school.
It is important to keep in mind that the cost of the school, or the tuition, determines the school’s quality. Many private colleges provide generous financial support packages, but there might be more options for those who are more flexible with their search for colleges.
It also helps to choose an in-state college to save on thousands of dollars, since state universities and colleges usually reduce the tuition for students who are planning to live in the state. There might also be career-specific scholarships and grants for students who want to find a job in the state. The best thing that students can do is to consider all their options to find the college that suit their needs without it being a huge financial burden to them.Tuition on College These Days by John Smith MD