What to Do About Rising Tuition
Jan 10, 2009
For the last six months or so, I have been seeing a lot of headlines about the rising cost of college. College costs are going up so fast that many experts say Americans are going to stop being able to afford to get a degree.
This is a pretty scary thing, because as college tuition has been going up, so has the importance of a college degree. Most people find it extremely difficult, if not impossible, to earn a comfortable wage without a college degree these days. Professional jobs pretty much all require a college education. So if people can no longer afford college, they also won’t be able to get good jobs or afford a middle class life for their families.
In fact, college costs are rising so steeply that they are affecting a generation that is currently being groomed for college. Some families haven’t spent enough time on college planning strategies, and as their high school seniors are graduating they are finding that they may not be able to send their kids to college, after all.
Hopefully something will be done in the near future to prevent college costs from rising so high that only the rich will be able to afford it. In the meantime, though, careful planning and thinking ahead is necessary if you want to be able to afford college — whether for yourself or for your kid. Start saving early, save as much as possible, and research financial aid and scholarships to help fill in the gaps!
6 Comment(s)
By Gi Toupou on Jan 22, 2009 | Reply
I have two children soon to attend college. It is my hope that with grants and scholorships the cost can be manageable. It seems that all of us are in a financial crunch, including the schools, but we can only hope for a lowering of costs.
By Gayle Trembly on Jan 23, 2009 | Reply
With the current economy I have to wonder if even the best planning is going to be good enough. Although a sound strategic plan is always the way to go, shouldn’t we also expect the unexpected? Let us hope that costs remain the same even if they can’t go lower.
By Paul Allen on Jan 26, 2009 | Reply
This is such a common story, isn’t it? The more important education becomes to society, the more difficult it is to get. Rising costs of education will merely force people to find other training options in lieu of formal education. Very sad.
By Terrance Green on Jan 27, 2009 | Reply
I recently was blessed with twin granddaughters and have started a college fund for them. I was amazed that, according to my broker, very few families are prepared for this. Seems as though we all are thinking of retiring but few of us have taken the time to help our families with the cost of schooling. Take it to heart, education does not come cheap.
By Arianna Pullman on Jan 27, 2009 | Reply
I am terrified about the prospect of my twin daughters going to college. What should be an exciting time has turned into total panic because I don’t know to afford it. But I can’t afford NOT to pay for it, so I’ll just have to find a way to make it work.
By jksmith on Mar 13, 2009 | Reply
comprehensive article.