Since 1985, college costs have increased by over 500 percent, compared to the 120 percent jump in the consumer price index.
Since 1985, college education costs have increased by over 500 percent, compared to the 120 percent jump in the consumer price index.
For comparison, medical expenses have surged by 286 percent.
The education situation has grabbed the attention of political parties, and many are appealing to both aid givers and the educational institutions themselves to provide realistic options.
It’s feared that the escalating price of an education will make it prohibitive for many both domestically and internationally.
On the home front, leaders worry that the cost of pursuing a degree will worsen the already tenuous income inequality situation.
Internationally, there’s a great deal of concern that the US will fade as a desirable option for students and scholars from abroad.
Congressional committees are in the process of drafting an updated Higher Education Act. The current version expires at the end of 2013.
President Obama has asked that federal aid be designed to discourage institutions from hiking their costs.
The president has also taken a tour of some colleges and universities and has addressed the matter, saying that there will be consequences for unreasonable tuition hikes.