> Colleges assumed the trend of charging $25k to $50k per year would be sustainable.
It's worth noting that the vast majority of students don't pay the sticker price because financial aid is provided early and often (beyond just loans). Very few students are actually paying $50k.* [0]
The average net price at a public college last year is $19,230 and the average net price at a private college is $33,720. Note that this doesn't just include tuition, but also room and board. So if you're going to public college you're probably paying $20k to eat, sleep, and learn. Plus you generally get some kind of health insurance too.
These averages can be significantly lower still for in-state public colleges and community colleges.
No doubt the massive inflation in college prices is driven by the government loans, and the federal government's policy around them should be modified at best. But we should speak in reality instead of the hyperbolic articles that often just look at tuition which is what most people are familiar with. Colleges below the top tier compete on their "discount rate" which is what percentage of the sticker price does the average student actually pay because almost no students pay the sticker price.
* "The average grant aid awarded per student was $8,100 at public colleges and $23,080 at private schools."
It's worth noting that the vast majority of students don't pay the sticker price because financial aid is provided early and often (beyond just loans). Very few students are actually paying $50k.* [0]
The average net price at a public college last year is $19,230 and the average net price at a private college is $33,720. Note that this doesn't just include tuition, but also room and board. So if you're going to public college you're probably paying $20k to eat, sleep, and learn. Plus you generally get some kind of health insurance too.
These averages can be significantly lower still for in-state public colleges and community colleges.
No doubt the massive inflation in college prices is driven by the government loans, and the federal government's policy around them should be modified at best. But we should speak in reality instead of the hyperbolic articles that often just look at tuition which is what most people are familiar with. Colleges below the top tier compete on their "discount rate" which is what percentage of the sticker price does the average student actually pay because almost no students pay the sticker price.
* "The average grant aid awarded per student was $8,100 at public colleges and $23,080 at private schools."
0: https://www.collegedata.com/resources/pay-your-way/whats-the...