I was reading this article about the cost of a college education and had just a few comments to make about it. It talks briefly about the raising costs of tuition and the raising amount grants given out.
The article “The Price of a College Education” highlights the fact that the cost of public college tuition has dropped 32% in the last five years (considering inflation and all other factors I’m sure). That’s not too bad considering all the headlines lately about the rising costs of education.
The article also states that there’s also been a “$22 billion annual increase in grants and tax breaks since 1998.” This excess of money more than offsets in general, the rising costs of schooling these days. As for myself I’m grateful for the grant system.
Here’s how the schools are able to help kids with their tuition woes. The university or institution raises its “official” tuition price. Because of the higher listed price, the state qualifies more people to receive federal Pell grants and other scholarships. The university receives the money from the grants and scholarships on behalf of the students, and they pay the associated expenses of giving the students and education. Because the state grants usually cover a good portion of the tuition and fees, it leaves little for the students and student families to pay out of pocket. In essence, the students are paying less in the end because of the tuition increase.
Of course these statistics are probably an average and the grants will still be denied to those students coming from upper class families, but in general, tuition has gone down.