Source: Fortune
Summary
The rising cost of attending college in the US has led to concerns about affordability. Despite a slowdown in tuition growth, the total cost of attending colleges like Brown University, Tulane University, and Williams College can exceed $100,000 per year. The average college tuition has more than tripled since 1980, with a significant increase after 2000. A scholar of higher education history notes that college tuition has not significantly risen since 1990, but the growth in real median family income has been modest, making college unaffordable for many Americans.
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The numbers tell one story. College tuition has become a significant burden for American families, with many students taking on loans to finance their education. The total student loan debt has risen to nearly $1.8 trillion in 2024, with 7.1% of borrowers’ annual income going towards debt repayment. The data shows that tuition growth has slowed since the 1990s, but the lack of growth in median family income has made college unaffordable for many. The pain of high tuition charges stems from the lack of commensurate growth in median family income.
Author: Evan Null
