Concern About Tuition Hikes Rapidly Escalates
Posted 06 Feb, 2009
For years now we have been hearing the statistic that students who attend college will make an average of $1 million more in wages over their lifetime. It pops up in radio and TV ads, in college look books, and in conversations with other parents–and it makes us, as parents, really stop and think.
Higher Education, Higher Importance
Two companies, Public Agenda and The National Center for Public Policy and Higher Education, have recently released a national survey about the public view of colleges, which they entitled Squeeze Play 2009. They surveyed 1,009 adults from across the country about their individual opinions of several higher education issues. The results were daunting.
Fifty-five percent of respondents believed a college education is necessary to be successful (up from 31% in a 2003 survey), but a majority felt that as the importance of education increased, its affordability was quickly dropping–especially in today’s climate.
Sixty-three percent of respondents felt that, compared to other items, college costs were going up at a much faster rate. In fact, 35% believed college costs were going up even faster than rapidly rising health care costs. Because of these costs, 67% believe that many people who are qualified to go to college will not have the opportunity to do so.
On the flip side, 53% of respondents felt that colleges could maintain a high quality of education even if they cut costs.
Big (or Small) College, Big Business
One particularly interesting survey question involved the way schools operate: 55% of the survey’s respondents this year felt that colleges today–like big business–are focused more on their bottom line than anything else, including the educational experience of their students.
Sadly, this appears to be true. It does not, however, mean you can’t get a reasonable price on a college education by planning ahead. (For example, colleges’ “big business” approach is what allows some students to get offered a tuition discount!)
What Can You Do?
The results of surveys like the “Squeeze Play” study often leads parents to become discouraged and even feel helpless when it comes to tackling college costs, but you should instead use these stats to motivate you! While public concern may eventually help lead to lower college costs, for now your best bet is to be as proactive as possible.
In my work with middle-income families–those who make too much to qualify for financial aid but not enough to pay for college outright-over the years I have found that there are a myriad of ways families can reduce their college costs. It’s all about determining which combinations of strategies are pertinent to YOUR family. By combining appropriate academic, cash flow, financial aid and tax reduction strategies over the years, you will likely be able to shave off thousands of dollars off your out-of-pocket college costs. Stay tuned for tips on how to construct your personal college funding plan in future posts.
So if you’re one of many many parents concerned with the rising cost of college, my advice to you is to start preparing now! Look into private scholarships , find out about how to potentially get a tuition discount, and feel free to contact me with questions about creating your family’s college road map!
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
photo: yirsh’s Top Education 2
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For years now we have been hearing the statistic that students who attend college will make an average of $1 million more in wages over their lifetime. It pops up in radio and TV ads, in college look books, and in conversations with other parents–and it makes us, as parents, really stop and think.
Higher Education, Higher Importance
Two companies, Public Agenda and The National Center for Public Policy and Higher Education, have recently released a national survey about the public view of colleges, which they entitled Squeeze Play 2009. They surveyed 1,009 adults from across the country about their individual opinions of several higher education issues. The results were daunting.
Fifty-five percent of respondents believed a college education is necessary to be successful (up from 31% in a 2003 survey), but a majority felt that as the importance of education increased, its affordability was quickly dropping–especially in today’s climate.
Sixty-three percent of respondents felt that, compared to other items, college costs were going up at a much faster rate. In fact, 35% believed college costs were going up even faster than rapidly rising health care costs. Because of these costs, 67% believe that many people who are qualified to go to college will not have the opportunity to do so.
On the flip side, 53% of respondents felt that colleges could maintain a high quality of education even if they cut costs.
Big (or Small) College, Big Business
One particularly interesting survey question involved the way schools operate: 55% of the survey’s respondents this year felt that colleges today–like big business–are focused more on their bottom line than anything else, including the educational experience of their students.
Sadly, this appears to be true. It does not, however, mean you can’t get a reasonable price on a college education by planning ahead. (For example, colleges’ “big business” approach is what allows some students to get offered a tuition discount!)
What Can You Do?
The results of surveys like the “Squeeze Play” study often leads parents to become discouraged and even feel helpless when it comes to tackling college costs, but you should instead use these stats to motivate you! While public concern may eventually help lead to lower college costs, for now your best bet is to be as proactive as possible.
In my work with middle-income families–those who make too much to qualify for financial aid but not enough to pay for college outright-over the years I have found that there are a myriad of ways families can reduce their college costs. It’s all about determining which combinations of strategies are pertinent to YOUR family. By combining appropriate academic, cash flow, financial aid and tax reduction strategies over the years, you will likely be able to shave off thousands of dollars off your out-of-pocket college costs. Stay tuned for tips on how to construct your personal college funding plan in future posts.
So if you’re one of many many parents concerned with the rising cost of college, my advice to you is to start preparing now! Look into private scholarships , find out about how to potentially get a tuition discount, and feel free to contact me with questions about creating your family’s college road map!
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
photo: yirsh’s Top Education 2
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