Essay on College Costs

2291 Words Oct 15th, 1999 10 Pages
College Costs

Introduction

It's no secret that financing a college education is getting tougher. College costs have skyrocketed over the past decade or so, and there's no relief in sight. Average tuition at four-year colleges will increase 7 percent this school year, double the rate of inflation. Student aid is not increasing fast enough to plug the growing gap between tuition and family finances. In addition, there is a growing number of older students entering college today. These students have families that they need to support. I know, because I am a family man who has returned to school. I wish to finish my degree at the Rochester Institute of Technology. The only problems I face are financial in nature. It is with this in mind
…show more content…
These costs are partially or fully covered by an employer. In the event they are not let us include them in the poverty scenario, which basically means the family must pay the costs.

The total amount of funds needed are $17700 the first year. If you increase that number by 4.8% each year thereafter you can come up with the projected amount for each school year.The $17700 figure remains the obstacle to overcome. This cost has to be covered by Financial Aid. If this cost cannot be covered by the available system, the student will not be able to pursue a standard four year degree at RIT.

Family's Will Strain

It's going to be tougher to pay for college in 1996, and that's going to widen the gap in enrollment between rich and poor students that the nation has struggled three decades to close. Average tuition at four-year colleges will increase 6 percent this school year, double the rate of inflation.
But family income isn't keeping pace; "after adjusting for inflation, the average family has gained hardly any ground in the 1990s," says the Department of Labor. As a result, says the Department of Education,"sending a student to a private college in 1996 without any grants or loans will require more than a third of a typical family's income and nearly two thirds of the income of a working-poor family."

The Government

Student aid is not increasing fast enough to plug the growing gap between tuition and family finances. The federal government supplies 75

More about Essay on College Costs