The average cost of in-state tuition and fees at a public four-year, in-state university was $9,410 and $32,405 at private four-year colleges in 2015-16, according to the College Board. That amount does not account for other necessary expenses, such as transportation, room and board, books and incidentals.
College was not always so expensive. Between the 1940s and 1970s, states and the federal government poured a tremendous amount of resources into universities and colleges through programs such as the GI Bill and Perkins Loan Program. Students from low-income or middle-class backgrounds were able to enroll and graduate in unprecedented numbers.
Fast forward to the present day, and tuitions and fees at public four-year institutions have been increasing an average of 3.4 percent each year between 2005 and 2015. Tuition growth can be attributed to a number of sources, but most research suggests that state disinvestment in higher education is the primary culprit.
Rising tuitions are bad news for education and income equality. A study from the Pell Institute found that only 9 percent of students from the lowest income bracket obtain a bachelor’s degree by age 24, compared to 77 percent of the wealthiest. Since the earning potential of individuals is most often linked to their education, this disparity appears to be poised to perpetuate a caste system of sorts based on wealth and educational attainment.
“I think we all recognize and share [the sentiment] that, in the 21st century, it’s not enough to graduate from high school,” says Dr. Martha Kanter, Distinguished Visiting Professor of Higher Education at New York University and former under secretary of education under the Obama administration.
Looking to community college
