September 9, 2011

College Tuitions Rising Rapidly at 60 percent Rate

Money Magazine on the rapidly rising College Tuition.

Over the past 10 years the cost of private college has jumped more than 60%, nearly three times as much as incomes over the same period, and will now set you back $42,000 a year on average.
Every single college is participating in the rapid tuition increases. Their justification “there is demand for education”.

Over the 10 years that ended in 2009, spending by large public universities on instruction rose about 10% in real terms,

Meanwhile, spending on student services jumped 19%, and outlays for operations shot up 20%, as the bills for everything from maintaining lavish dorms and spa-like gyms to salaries for the legions of administrators it takes to run large universities these days took their toll.
And, a lucrative revenue source for colleges, which are being run like a business.
Then there's the ultimate sacred cow: college sports. Spending on athletics has accelerated at twice the pace of spending on academics
For those who really want to learn, free college courses from the top professors - such as Stanford’ AI-Class, the largest class in the world - and online learning on their own will become the solution.

For those who want a degree, there are online Universities who can offer degrees at potentially lower costs. There are intriguing ads from online Universities to attract students.

And, for the majority who still wants to spend money for four years at a University campus, a handy tool to find the best Universities.