The cost of living keeps rising and clearly so does the cost of college!
The cost of college in America has risen by 169% says Tech-gate. Since 1980, salaries for recent college graduates ages 22 to 27 have not come close to keeping up the pace in the same period, only climbing by 19%.
The increase in tuition cost, versus salaries for college graduates is a common trend that researchers at Georgetown University say, stagnates economic independence and social mobility for those entering the workforce. The cost of college tuition has always been a topic of conversation, especially for individuals who are not awarded a full scholarship or have parents who can fund the entire bill.
The reality is the rise of college tuition would mean more student loans; more student loans lead to students being in debt way before they even complete the 2, 4, or 6 years time for them to receive their degree.
Typically college costs today range $27,330 for public in-state university students, to $55,800 for private nonprofit college students per year; including tuition and fees, room and board, and allowances for books and supplies, transportation and other personal expenses, says Tech-gate.
Some researchers at Georgetown University conducted the study, “If Not Now, When? The Urgent Need for an All One System Approach to Youth Policy”.
The study gathered that when scholarships and grants are factored in, average net costs for tuition and fees at such schools are closer to between $2,640 and $14,990. Wages for young workers from all levels of education have inched up at a snail’s pace over the past four decades.
Despite the rising cost of college, workers with a bachelor’s degree have still fared best in the labor market, the study reads.