State college tuition has doubled in 25 years—what’s happened to the quality of the education?
Susan Dynarksi offered a straightforward piece on college costs on NYTimes.com recently, read it here.
She offers substantial detail, but here’s the nut: tuition at public colleges has jumped about 100% in the last 25 years, but the colleges are still working with roughly the same revenues they had in 1988.
Public or state colleges enroll about 80% of all undergraduates. They rely on state aid and students paying tuition for their revenues.
In the last 25 years (using inflation-adjusted 2013 dollars) total revenue per student has barely budged, from about $11,300 in 1988 to $11,500 last year.
However, the average tuition bill has jumped from $2,700 to $5,400. Average public funding, in the same time period, slumped from about $8,600 to $6,100.
If you’re going to Big State U. now, you’re paying twice as much as your mom and dad did.
The obvious question: is it worth it?
Copyright © Richard Carl Subber 2014