It’s an unfortunate irony that in times of economic strife, things start to cost more than they do normally when people have less money than they normally do. This is especially painful concerning things that are already exorbitantly priced ‘- such as college tuition, which, according to a recent report published by The College Board, rose an average of 4.9 percent during 1999-2000 which constituted a normal economic environment. Now, for the 2009-2010, tuitions at public four-year colleges are predicted to raise a dramatic 6.2 percent. And though the actual amount students have been paying out-of-pocket has dropped during the last five years, this amount has been adjusted to be proportional to inflation, so the tuition increase is still a noticeable burden.
It’s understandable that schools would need to get more money from somewhere ‘- higher costs of living affect more than just students, they affect institutions too. But it’s not promising that universities are so obviously dependent on tuition as revenue, as endowments shrink and alumni donations dwindle. This will only become an even-more vicious cycle as time passes if the economy worsens because students who pay outrageous tuitions during their time at a university will become hesitant to donate their own money to that same purse once they’re out of school. And students go to school in the first place with aspirations to get competitive educations to help them secure profitable careers, thus justifying the high-tuition costs. But when the job market suffers, it overturns this ideal.
The complications of attending expensive private universities such as Boston University at a time when the nation’s financial infrastructure is ailing are great. It’s unfair to blame the school, however, for rising tuitions, as easy as that would be. Instead, students must ask that their administrations use the money they do have wisely ‘- and curb ambitious projects made to attract prospective students, who have the advantage entering college during a more financial aid-conscious time that upperclassmen did not have. Universities would also do their students well to offer more career-centric services and resume-building opportunities, as well as make sure that their campus employment rates are high and students are able to work while in school if they wish to. Pragmatic choices and innovative solutions will help students maintain morale for their educations even while paying painfully high tuitions, and will help universities maintain good relationships with their students even after they graduate. In times like these, the more creative the budget revisions, the better.
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