College’s Still Not Reducing Tuition Fees Despite Harvard’s Reduction
College’s Still Not Reducing Tuition Fees Despite Harvard’s Reduction
Many college’s say they are still not ready to reduce college tuition fees even though some universities like Harvard have slashed tuition cost and increased student financial aid.
Most colleges are using the excuse that they aren’t as wealthy as Harvard and that Harvard can afford to reduce tuition fee’s because they have the largest endowment of any publicly funded college in the country.
Still for many parents and students, that’s not a good enough answer.
Many colleges are reporting of getting calls from concerned Parents saying “If Harvard can reduce their college tuition, why can’t you?”
Harvard’s endowment is estimated at 35 billion, by far the largest of any school in the nation.
Harvard got many peoples attention last month when it announced that families making between $120,000 and $180,000 would spend no more than 10 percent of their family income on tuition cost. This includes tuition cost’s and room and board.
The effect spread to other high end colleges and universities, including the University of Pennsylvania, Yale, Swarthmore and Haverford, which pledged to reduce or eliminate student loans. Others say they are looking at awarding fewer scholarships and giving more student loan aid to those in financial need.
Increasing Tuition Fees to Increase Student Loan Aid – Bizzarro World?
This also had the opposite affect on many smaller colleges, many of whom said they had to increase college tuition fees so they could give more financial aid to the students.
Is it me or is this one screwed up excuse for increasing tuition fees? Oh, let’s see, we’re going to INCREASE tuition cost so we can INCREASE student loan aid. The problem with this way of thinking is that many of the schools who are using this as an excuse to increase tuition cost, aren’t affected by Harvard‘s or these other higher end college’s decision to increase student loan aid.
Most of the students going to the smaller schools could’t afford to go to Harvard or wouldn’t qualify to begin with, so the excuse of “We have to increase tuition fees so we can increase financial aid”, just doesn’t hold water.
College’s Getting Greedy
Most people see these college tuition fee increases as nothing more than a greedy move my greedy colleges. Most of these college’s refuse to cut pork barrel type spending on non-essential needs. In fact, many of these colleges are increasig their spending on non-essential projects while raising tuition cost for students. Raises for the upper eschelon of the faculty and other careless spending have left many of these colleges in poor financial shape.
It’s becoming more and more obvious that these colleges believe they are more into shaping the way young people think, rather than educating them. This has led to a decline in enrollment in many of the more liberal colleges, which has left many of them with reduced income, thus putting them into a position of having to increase tuition cost to maintain their extravagant lifestyles.
The average cost of a college education has skyrocketed more than double since 1993. What has changed? Sure, the cost of gas has risen, but that’s only been in the last 4 years or so. So what has led to this huge increase in college tuition to a point where the College’s have to keep increasing tuition? Their spending on pork barrel projects as well as raises to school faculty.
Where does this leave the Average College Student
Sadly, this means today’s college students are having to borrow more and spend more time paying off large student loan debt. Many graduating students are having to settle for lower paying jobs just to start paying on their student loans rather than take the time to find a career of their choice.
Some students have actually had to turn to a life of crime to pay their student loans and tuition cost.
This is just ridiculous. Very few colleges and the board that run them actually stand up and take responsibility for their spending. The though process is that “if we don’t spend it, we won’t get it next year” so the tired ole process keeps alive.
Only pressure from Parents and students will force these colleges to change their spending habits. Sadly, the parents and students will have to put the pressure on their legislators because, once again, many of these colleges get their funding from the State. You and I are simply peons who know nothing!
College’s Still Not Reducing Tuition Fees Despite Harvard’s Reduction
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Tagged With college tuition, college tuition increase, harvard, haverford, student loan aid, Student Loans, swarthmore, university of pennsylvania, yale
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