Today, the New York Times highlighted the rising cost of a college education. New data released by the Department of Education (required by the Higher Education Opportunity Act of 2008) highlights the cost of education by institution. The website, the Act Information on College Costs highlights tuition, fees, average cost of living, the net cost (tuition and fees less grants and scholarships), and even demonstrates those institutions with the highest and fastest rates of increase. According to the study, the average tuition of a non-profit institution was around $21,324.
The New York Times also highlighted additional data released that is shocking for those of us who have ever worked in higher education and have been aware of teh rising cost of college expenses. The data namely states that two-year or community colleges (long the most affordable form of education for generations) is now being priced out of the range of many students – seeing a 71% increase from 1999-2009 (while family income has fallen more than 4% over the same time).
Soon the government will also require higher education institutions to expand consumer information to include details on its graduates’ employment rates, average debt load, and rates of graduation. To read more about this, check out the article in the New York Times.