September 2013

September 17, 2013

You hear about it everywhere you turn: college is expensive!  The impact of funding pressures from the economic crisis, the growth of entitlements putting incredible financial pressure on governments and the “academic inflation index” have all driven the rapidly rising cost of higher education to students, their families and financial aid programs. This pressure is felt not only by lower income families but by those with solid middle incomes.  Some of the most intense cost pressure is affecting families with total family incomes between $80,000 and $180,000 per year—those who are squarely middle class.  While many top private universities cost $50,000 to $60,000 a year, smaller private colleges commonly carry a sticker price of $35,000-$40,000, especially if families factor in the total cost of attendance (books, living expenses, housing, etc.).

The nation’s higher education community, state and federal policy makers, and financial sector professionals are...