Is College Still Affordable?
Over the last 30 years, while inflation has increased 2.5-fold and medical costs 6-fold, college tuition has gone up 10-fold. Recently, one year at a public university topped $50,000 for an out-of-state resident. The disproportionate price increase, which has kept pace at both public and private institutions, makes a four-year degree more elusive than ever before. And for those that do attend, they will likely need to take out larger and larger loans in order to afford it. Have we finally surpassed the uppermost limits of college affordability?
