Updated: Aug 13, 2021
High-school seniors and college transfer students have received the news: They’ve been accepted to college. Congratulations!
Except, the news isn’t always good…even with an acceptance letter. The deciding factor often is affordability.
It’s the financial aid package that creates either euphoria…or great pain. And I’ve seen it inflict pain more often than joy. A college education is expensive. It’s a huge investment.
Over the past number of years, a college education has often become too-big-of an investment or an out-of-reach dream. I’ve seen young people get into the college of their choice, only to turn down that college due to the cost.
The cost of an Ivy League school now is around $72,000 a year. Other private, liberal-arts colleges average $54,000 a year. Public universities are cheaper, but they’re often too expensive for many families. The average cost of an in-state university is around $10,000 a year. Out-of-state tuition is about $26,000.
On average, college costs go up by 8 percent a year. That’s a huge increase. The American dream of going to college is fading fast. I congratulate those who have been accepted into college, but we as a society need to confront this issue (and fix it) to make college affordable. For everyone.