| Imagine you're the third sibling in your family to enter | | | | rent, meal plan charges, and utilities. Government |
| college in your home state of Minnesota, and that each | | | | statistics also indicate that more students are choosing |
| of your family members entered college four years | | | | to attend school part-time, paying for tuition with a |
| apart. Believe it or not, you may spend twice as much | | | | combination of student loans and income earned from |
| on college as your eldest sibling. While consumer prices | | | | entry level jobs. |
| usually rise between one and four percent each year, | | | | Gaps Between Private and Public College Spending |
| many colleges have hiked tuition and fees at double or | | | | Private school administrators are no longer immune to |
| triple that rate. | | | | the effects of a troubled economy. Some of the |
| True Sources of Hidden College Costs | | | | largest private university endowments suffered capital |
| While some critics have charged college administrators | | | | losses of as much as fifty percent over the past two |
| with overpaying faculty and with pursuing vanity real | | | | years. In most cases, private universities now find |
| estate projects, the real reasons for spikes in college | | | | themselves in the same position as state schools |
| costs mirror changes in the broader economy. For | | | | forced to raise tuition to cover other funding shortfalls. |
| instance:o Technology Upgrades. Although universities | | | | Although experts predict that tuition should continue to |
| helped originate the Internet as we know it, college and | | | | rise, students at state-run schools can expect to enjoy |
| university IT professionals have spent hundreds of | | | | greater value relative to students at many private |
| millions of dollars to upgrade campus networks and to | | | | colleges and universities. |
| implement stronger data security measures.o Staff | | | | Fighting College Tuition Sticker Shock |
| Compensation. Many colleges and universities offer | | | | Although college costs aren't likely to drop anytime |
| extensive benefits packages to both faculty and staff. | | | | soon, students and parents can still take a few simple |
| To absorb sudden spikes in the cost of health care, | | | | steps to trim their own education budgets, including:o |
| some schools have resorted to raising tuition.o State | | | | Interview the Career Office. Colleges and universities |
| Budgets. Like government agencies, state colleges and | | | | that have invested in strong alumni networks and job |
| universities must respond to lawmaker demands to | | | | placement programs may help you land the kind of job |
| freeze or reduce budgets. Administrators in hard-hit | | | | that can help you repay student loans sooner.o Mix |
| states like California and Minnesota have hiked tuition | | | | and Match. Many students now complete core |
| rates to replace state funding.o Energy Prices. Just as | | | | undergraduate courses at community colleges or at |
| volatile energy costs caused grocery prices to rise, | | | | state universities before finishing their degrees at |
| transportation expenses have forced campus dining | | | | private colleges. This strategy can cut college costs in |
| facilities to buy more expensive ingredients.o Stock | | | | half while resulting in the same diploma.o Rethink Work |
| Declines. Stock market shortfalls have even hurt | | | | Study. Career-oriented students can complete an |
| college sports programs. Stanford, Ohio State, and | | | | associate's degree online or at a less expensive |
| Florida State all announced athletic cutbacks due to | | | | school to qualify for an entry level job in their desired |
| dwindling alumni donations and stalled ticket sales. | | | | industries. Many employers offer tuition reimbursement |
| How Rising College Costs Impact Enrollments | | | | programs to help students complete bachelor's or |
| Sharp increases in tuition and college fees have forced | | | | master's degrees. |
| many young Americans to rethink their higher | | | | Keeping college costs down may require rethinking the |
| education plans. Instead of moving away to school, | | | | traditional higher learning experience. By focusing your |
| many first-year students have started choosing | | | | search on colleges and universities colleges and |
| colleges closer to home. By living with family members | | | | universities with a track record of smart spending and |
| instead of in the dorms, students can avoid many of | | | | proven job placement, you can get the best return on |
| the extra expenses of a college education, such as | | | | your education investment. |