Chart: See 20 Years of Tuition Growth at National Universities

Chart: See 20 Years of Tuition Growth at National Universities

The cost of attending college gets higher every year, even as students struggle with debt and paying for school. Over the past 20 years, tuition and fees at National Universities, both private and public, have risen sharply. Here’s a quick breakdown of how schools in each category performed, looking at data reported by ranked schools that were included in editions of the U.S. News Best Collegesrankings from 1995 to 2015: The average tuition and fees at private National Universities jumped 179 percent. Out-of-state tuition and fees at public universities rose 226 percent since 1995. In-state tuition and fees at public National Universities grew the most, increasing a staggering 296 percent. Despite experiencing the biggest increase, attending a public university as an in-state student is still the most affordable four-year college option, on average. Dollar amounts in this chart have not been adjusted for inflation. For reference, the total consumer price index inflation increase from 1995 through the first half of 2015 was 55.1 percent, according to the U.S. Bureau of Labor Statistics. So tuition at four-year National Universities is outpacing inflation, and by a lot.   Continue Reading at U.S....
Veteran tuition program saved from budget cuts

Veteran tuition program saved from budget cuts

By: Stripes.com A program that provides tuition assistance for veterans has been restored for now by Gov. Matt Mead after being targeted for elimination because of budget cuts. Mead announced Wednesday that he would continue funding the program through the coming fall semester. And he didn’t rule out the possibility of continuing it after this year. The program administered by the Wyoming Community College Commission provided assistance to 162 veterans at the state’s seven community colleges and the University of Wyoming last fall. Just at UW, about 60 students had been enrolled in the program, costing the state about $312,000 a year in tuition support. Veterans who had been deployed to combat zones could receive 10 free semesters at any Wyoming community college and the university. Veterans’ surviving spouses and dependents are also eligible. “This program is important to our veterans and their families — many rely on it as they pursue their degree,” Mead said in a statement. “Declining revenues make the state budget difficult to predict. Veterans, colleges and the University will now have time to transition to a program that leverages existing federal assistance and looks at state priorities.” Students in the program, which was administered by the Wyoming Community College Commission, had been told recently that the program was being eliminated to save money. The state’s seven community colleges are slashing budgets because of cuts in state aid brought on by a downturn in Wyoming’s mineral extraction industry. Community colleges across the state have been forced to eliminate about 175 jobs and cut back on other expenses as a result… Read More at...
Parents Are on the Hook for Nearly Every New Private Student Loan

Parents Are on the Hook for Nearly Every New Private Student Loan

By: The Wall Street Journal Student loans aren’t just for students anymore. As private student-loan originations ramp up, a greater share of new loans are requiring parents, as well as students, to sign on the dotted line. Five of the largest private student lenders distributed $6.46 billion in loans between July 2015 and March 2016, up 7% from the same period a year earlier–and the fifth consecutive year of increases, according to data out Friday from MeasureOne, a San Francisco firm that tracks the market. The loans were extended to undergraduate and graduate students for the 2015-16 academic year by the largest lender in the sector, SLM, better known as Sallie Mae, as well as Wells Fargo & Co., Discover Financial Services, Citizens Financial Group and PNC Financial Services Group MeasureOne estimates these firms account for around 70% of private student-loan dollars disbursed by academic year. The increase comes as lenders continued to tighten underwriting requirements. Nearly every, or 94%, of private student-loan dollars distributed to undergraduates for the 2015-16 academic year had more than one borrower on the hook for the debt–the student and a cosigner, according to the report. That figure has been rising in recent years and is the highest since 2008-09, the farthest back that MeasureOne reports data, when it was 76%. Cosigners are becoming more common with graduate-student borrowers as well. Nearly 61% of those dollars given out for 2015-16 had cosigners versus 57% the previous year. That is the first year-over-year increase since 2011-12. For lenders, cosigners increase the chance that loans will be repaid, helping to lessen defaults. When student borrowers can’t...
For-profit colleges see sharp drop in enrollment

For-profit colleges see sharp drop in enrollment

By: MarketPlace The enrollment decline for for-profit colleges don’t reflect some major changes in regulation, like a requirement that these colleges show what jobs students got after graduating, to prove that they were worth their cost. A lot of the students who attend these institutions tend to be lower income and older and schools are struggling to sign them up. Kevin Kinser, professor of education policy at Pennsylvania State University, said it boils down to a math problem. “The for-profit sector enrollment increases in the 2000s were basically based on the idea that you could get a lot of new enrollment and so if a student dropped out or graduated, you’d have two or three new students to replace them,” he said. “They’re just not being able to recruit the number of new students they need to take over from the students that are dropping out and graduating. So, it’s math.” Ben Miller, senior director for post-secondary education at the Center for American Progress, said he thinks the numbers will continue to drop and he believes there’s a segment of for-profit education that isn’t able to change with the times. “And that’s mostly on the lower-level training around certificates and some associates degrees,” he said. “That business model I think is on its way out.”… Continue Reading at...
The cost of college is out of control

The cost of college is out of control

By: CNBC A college education is now the second-largest expense an individual is likely to make in a lifetime — right after purchasing a home. Ironically, one of the reasons the price tag continues to climb is the abundance of loan dollars that discourages schools from keeping their costs in line. While families are paying less out of pocket than in the past, they are relying on loans, scholarships and grants more than ever before. Aid such as the income-based federal Pell grants covered 34 percent of college costs in 2015-16, up from 30 percent in the previous school year, according to a recent report by education lender Sallie Mae. The second-highest proportion came from parent income and savings, which averaged $6,867, or 29 percent of total spending on college, followed by borrowed money, which covered 20 percent of college expenses in 2015-16. Overall, 2 in 5 families borrowed money to pay for college during this school year, Sallie Mae officials said. Tuition has historically risen about 3 to 5 percent a year, according to the College Board. During the recession, declining public funds caused tuition to skyrocket. At private four-year schools, average tuition and fees rose 54 percent in the last decade. Tuition plus fees at four-year public schools, which were harder hit, jumped 71 percent over the same time period. “One of the biggest things we have seen is the disinvestment from states and this has been particularly problematic for public institutions,” said Megan McClean Coval, vice president of policy and federal relations at the National Association of Student Financial Aid Administrators. Tuition keeps rising Academic Year...
Justice Department investigating for-profit college over federal financial aid

Justice Department investigating for-profit college over federal financial aid

By: Washington Post The Justice Department has launched a probe into whether Bridegepoint Education, the owner of Ashford University and the University of the Rockies, is violating a law that prohibits for-profit colleges from getting more than 90 percent of their operating revenue from federal student aid funding. In a regulatory filing Tuesday, Bridgepoint disclosed that federal prosecutors are investigating allegations that the company misstated the amount of money it receives from government loans and grants provided to students or overstated revenue tied to private loan programs. If the accusations are found to be true, the company would be breaking the so-called 90/10 rule. Investigators have requested financial documents from fiscal years 2011 to 2014, according to the filing. Bridgepoint officials say the company is evaluating the request and intends to fully cooperate with the investigation. In a separate but related matter, Bridgepoint said the Department of Education has scheduled a review for the end of the month to assess Ashford’s participation in the federal financial aid program. The initial review will cover students enrolled from 2009 to 2012, but it may be expanded, the filing said… Continue Reading at Washington...