Undoing the influence of rising college costs

Stefanie Botelho's picture

The rising cost of college is unduly influencing our nation’s future.

A new survey from UCLA’s Higher Education Research Institute indicated that the percentage of college freshmen attending their first-choice school has reached its lowest level in almost 40 years, primarily due to rising costs and limited availability of financial aid. The cost of a college degree has increased more than 1,120 percent in the past 30 years — far outpacing the price inflation of consumer goods, medical expenses and food.

Gone are the days when a part-time job could sufficiently financially supplement a university degree: It now takes years of financial planning. Regrettably, in many cases it also means several thousand dollars in student loan debt that can take decades, and in some cases a lifetime, to repay. These financial barriers are often just too overwhelming for many families to overcome, and a college education remains just a dream instead of a reality.

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