Boston University students are well aware that they are paying to attend one of the most expensive institutions in the country, but as of next year, they won’t be only ones in Boston feeling the pinch.
The number of colleges in and around Boston surpassing the $50,000 mark (for tuition, room and board and mandatory fees) will double next year.
BU was among six schools that broke the $50,000 mark last year, rounding out the 2009-2010 academic year with a total price tag of $53,000 for students who live in the cheapest on-campus housing. Those who live in the lavish Student Village apartments are closer to $60,000.
With the understanding that the economy has been down for the past couple of years, and the knowledge that higher education in this country is ridiculously overpriced, students might be asking themselves what is the increase the result of. Is the quality of education improving? Is the cost of living skyrocketing in this city to an unheard of amount? Or is there something else?
With more and more high school students applying to college each year, the demand for higher education is greater than ever. Competition over spots at some of the country’s top universities is getting more cut-throat as time goes on, and bachelor’s degrees are virtually a requirement when applying to entry-level jobs these days, so it’s safe to say that universities aren’t upping the costs because they’re feeling a pinch on the incoming side. Instead, it’s the exact opposite.
Endowment is down, as is the economy. Recent college graduates are more likely to be struggling to pay the bills, pay back their loans and keep a steady job than they are to be writing substantial checks to their alma maters. But is the solution for universities to go after their incoming students?
The quick fix isn’t a fair one, nor is it one that is helping with the already exorbitant, but extremely essential, college education. The vicious cycle is only adding urgency to the completely necessary overhaul to America’s system of higher education.
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