Are State Schools Still A Bargain?
Think state schools are always the better deal compared to private colleges? Not necessarily so. While state schools generally cost less, recently some states (Illinois and New Jersey, for example) have reacted to state budget cuts by trimming their aid programs. According to a recent report from the National Center for Public Policy and Higher Education, financial aid has generally not kept pace with state tuition increases.
“For most Americans, college has become less affordable over the last decade,” says James B. Hunt Jr., chair of the National Center’s board of directors. “At a time when we should be encouraging students to attend college, we are making it more difficult for them.”
In New Jersey, families spend more than a third of their income to cover costs at a public four-year college. That’s up 10 percent from a decade ago. Here’s what some other state schools are doing to handle cutbacks:
Tuition hikes. Schools in Ohio and Minnesota are considering tuition increases of 3.5 to 5.5 percent.
Fee increases. The California State University system recently raised fees by 14 percent, which was on top of a 30 percent hike in 2003 and 10 percent in 2002.
Class reductions. To close budget gaps, some state schools resort to reducing the number of classes offered. That can mean spending more years at college trying to meet requirements and shelling out dollars.
There is some good news, though. According to the American Association of State Colleges and Universities, state finances and education budgets are starting to show some healthy signs. Rather than increase tuition 10 percent, Georgia instead mandated that 34 campuses reduce spending by at least $20 million. And a few states, such as Massachusetts and Indiana, get kudos for increasing their financial aid programs. Finally, for the 2004-2005 school year, the average total price tag for four years at a public school is still less than at a four-year private college: $11,354 vs. $27,516.
The bottom line is that some state schools can still be a deal, but don’t rule out private colleges. Wise students apply for financial aid early and carefully compare aid packages.
Article courtesy of www.careersandcolleges.com
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