https://theprogressnetwork.substack.com/p/college-is-getting-cheaper
"It’s back-to-school season, and so the perfect time to discuss a topic
Americans love to loathe: college prices. Gen Z hates them so much that many
are giving up on attending entirely. And who can blame them? Add in the anxiety
over AI’s effects on employment prospects, and it’s unlikely the questions
about whether a college degree is still worth it will be stopping anytime soon.
That said, contrary to the popular narrative that the cost of college has been
on an unstoppable trip upward, it has actually stabilized and even declined in
recent years. By no means is that to suggest college is cheap—after accounting
for inflation, public and private nonprofit institutions alike are roughly 1.5
times more expensive than they were in the 1990s. But over the past decade,
according to research from the College Board, inflation-adjusted tuition and
fees have dropped by 10% and 7% for in-state two- and four-year public
students, respectively. They’ve increased by 2% at private nonprofit
institutions.
The picture is more positive when you look at costs after grant aid—money
students will never have to pay back. Two-year public students have been
receiving enough grant aid to completely cover tuition and fees since 2010.
What four-year public students pay peaked in 2013, and private students, 2007.
(This doesn’t factor in living expenses, however, which add a pretty penny to
the total cost of attending.)
This despite the fact that, excepting a recent change to Pell Grant eligibility
that expanded access to an additional 610,000 low-income students, federal help
has been shrinking for years. What has steadied the price rise is more local:
States are contributing a record amount to student aid. And colleges themselves
have taken over an increasing amount of the burden."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
