College costs are skyrocketing, and it’s causing a lot of concern. Some top colleges are now charging almost $100,000 a year for tuition, fees, room, board, books, and other expenses. This huge price tag includes well-known schools like New York University, Tufts, Brown, Yale, and Washington University in St. Louis.
Why Are Prices Rising?
Each year, college costs go up by about 4%. If this trend continues, we could see colleges charging more than $100,000 a year by 2026. Bryan Alexander, a senior scholar at Georgetown University, predicts this increase based on current data.
The Impact on Students and Families
Such high costs can be discouraging for many students and families, especially those with lower or moderate incomes. Sameer Gadkaree, who leads the Institute for College Access and Success, points out that these prices are simply unaffordable for many families.
State funding for colleges has been cut significantly, leading to these rising costs. As public supp...
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