With the Moving On/Moving Up Ceremony recently passing, the talk about where the seniors are going to college has been a major interest in the OP community. This enormous decision comes with many variables, such as location, housing, major, and even food. Perhaps the most important one of them all, though, is tuition. In the 21st century, the cost of an in-state public institution has increased by 195%, with the total price averaging $89,556. This leads to the question for families looking at the price tag for these colleges: How did we get here, and why is it so much? Well, there are a few key reasons that built up to it.
The first is who actually pays the bill. In the past, public universities were largely funded by state governments. They covered the vast majority of the operating costs, which, in return, kept tuition low for students. Now, the funding has almost vanished. The schools have had to rely on students to keep their doors open. Second, the schools are fighting to attract more students. They add multimillion-dollar facilities, dining halls, and new dorm buildings, which all contribute to the rising price. While all of those make campus life enjoyable, they are put into the sticker price, regardless of whether they are used by everyone or no one. Finally, there has been a surplus in the number of administrators at the schools. Comparing the payroll 50 years ago to today, you’ll see there is much more management at the school. Think jobs such as deans, assistants, and marketing directors. Managing the campus requires a large workforce outside of the classroom, and their salaries are a large portion of where that $89,556 comes from.
So, as our seniors post their commitments and wear their university apparel, we must also understand that we are all entering the most expensive era in education history. A degree is sometimes referred to as a “golden ticket” to having a successful career. However, this “ticket” is becoming increasingly harder to afford. An education can last a lifetime, but so could the cost.
