Michael Feldstein, project manager at Oracle, shared a chart showing the skyrocketing cost of college tuition (and other fees) created by Anya Kamenetz for a presentation earlier this year about the transformation of higher education.
So What?
In the same presentation Kamenetz notes that, according to the College Board, the full cost of a public BA is $112,520, which reflects an increase of 24% over the last five years (from the 2005-06 school year to the 2010-2011 school year). While there are numerous efforts underway to reign in costs, those who have already experienced or are currently seeking to further their education are increasingly dependent on loans. As these students graduate and enter the workforce they must budget an ever increasing portion of those earnings to repay student loans.
- Over the next 5-10 years, do you expect annual increases in the cost of higher education will continue to outpace that of other categories? Why or why not?
- How do you imagine this increased debt impacts marriage (see this post for some additional thoughts)? impacts stewardship/giving to local congregations and religious non-profits (both time and money) by recent graduates?