Posted Friday, March 26, 2010
Now that Ohio has removed its freeze on college tuition, most public universities are raising their price tags. Ohio State plans to hike its tuition and fees a whopping 8.5% for in-state students, bringing annual costs up to $9,420. University of Akron's price is going up to $8,500. Private schools will charge more too. Where does the money go and what could stem the upward trend? Join Regina Brett and guests, Friday morning at 9 on 90.3.
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One of the issues with the increasing tuition costs is that they are pricing out options for students. A lot of the emphasis is being placed on ROI for graduates, and areas of study such as education, social services, and the liberal arts just aren’t seeing the kinds of financial returns that justify the expenditures of higher education.
Higher Education is just the next in a long line of financial bubbles: Oil, Sub-prime Mortgages, Housing/real estate, Healthcare and credit cards! These gold plated edifices are failing miserably. The students are the shareholders! The ratio of college cost to to first year income has fallen from 2x to nearly 6x. What a joke!
Just a couple of comments about today’s show…
Absolutely, higher education is about growing and expanding the individual...but, realistically, it is to assist the individual in making a place in the world. Perhaps the individual has different goals and/or expectations about what that entails. However, a good number of people view higher education as an aid to make a better living.
Your show today addressed the issue of keeping college graduates in Ohio. What always frustrates me is that there are programs for the “traditional” college student to be mentored or to learn further through internships, but there are many instances where the “non-traditional” adult student is overlooked and underappreciated. I have 15 years of experience in the business world, but just finished my bachelor degree last year. I will need to change frims and maybe even move out of Ohio to get a better position and a pay raise...and I mostly need the pay raise to pay-off the student loans I have to pay back. The business community should take a second look at the resources that they already have and give those adult, working, recent college graduates a chance!
Not all private colleges are charging more. Hiram College froze its tuition for new students this year, so there will be no increase for students entering the fall of 2010 compared with students entering the fall of 2009. In addition, Hiram was one of the first in the country to institute a Tuition Guarantee. Hiram families can count on the stability of set tuition that will not increase during students’ four years at Hiram.