2008 Woodie Awards
American Education Considered Costly
Keith Evans
Issue date: 2/28/08 Section: Opinions
There is no question the cost of college is increasing. In fact, college costs have been increasing at an alarming average rate of about 6.6% for quite some time, easily outstripping increases in the consumer price index (which currently has average annual increases of a little over 3%). Private schools such as Rollins saw a slightly more modest increase (about 4.6%) in 2007, but even that increase is nearly time and a half the overall inflation rate.
Part of the cushion in inflation experienced by private schools comes from their very nature; while public schoolssuch as UCF- scramble to account for loss of funding from government cutbacks, private schools only need to increase fees to cover increased expenses.
Still, the price tag on a college education leaves many students in sticker-shock. Here at Rollins, a full-time student living at home can expect to pay about $36,856 for a year of education (including all fees, such as that infamous $60 parking sticker). Room and board increases the the yearly price tag to a whopping $47,031. Considering that the median household income in Florida is only $40,900, those high costs put Rollins firmly out of reach of the average Floridian.
Fortunately, both private institutions and our government step in to help students get the education we all need. According to the Rollins Web site, about 70% of Rollins students receive at least some kind of aid. This financial assistance ranges from federally-backed low-interest student loans to scholarships and grants which do not have to be repaid.
Among the most popular of the latter set is the Florida Resident Access Grant, a straightforward $1,500 grant offered by the state for our use toward tuition. All told, according to a trend report issued by College Board, the average student at a school like Rollins gets about $9,300 per year in financial aid.
Even with substantial government assistance, attending college in the United States is exceptionally and increasingly expensive. It is also less optional; most companies prefer new professional-level employees hold at least a bachelor's degree, and many are beginning to require at least one MBA for management personnel. With education so expensive and almost compulsory, government assistance seems like a Godsend.
Part of the cushion in inflation experienced by private schools comes from their very nature; while public schoolssuch as UCF- scramble to account for loss of funding from government cutbacks, private schools only need to increase fees to cover increased expenses.
Still, the price tag on a college education leaves many students in sticker-shock. Here at Rollins, a full-time student living at home can expect to pay about $36,856 for a year of education (including all fees, such as that infamous $60 parking sticker). Room and board increases the the yearly price tag to a whopping $47,031. Considering that the median household income in Florida is only $40,900, those high costs put Rollins firmly out of reach of the average Floridian.
Fortunately, both private institutions and our government step in to help students get the education we all need. According to the Rollins Web site, about 70% of Rollins students receive at least some kind of aid. This financial assistance ranges from federally-backed low-interest student loans to scholarships and grants which do not have to be repaid.
Among the most popular of the latter set is the Florida Resident Access Grant, a straightforward $1,500 grant offered by the state for our use toward tuition. All told, according to a trend report issued by College Board, the average student at a school like Rollins gets about $9,300 per year in financial aid.
Even with substantial government assistance, attending college in the United States is exceptionally and increasingly expensive. It is also less optional; most companies prefer new professional-level employees hold at least a bachelor's degree, and many are beginning to require at least one MBA for management personnel. With education so expensive and almost compulsory, government assistance seems like a Godsend.
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