Department of Education Releases New Tuition, Other Stats
According to the article, “More Colleges, More Degrees” by Doug Lederman found in the Dec. 28 edition of Inside Higher Ed, while college students were in the midst of enjoying holiday festivities and relaxing during winter break, the U.S. Department of Education’s National Center for Education Statistics, released “a ‘first look’ at the most recent data collected through the Integrated Postsecondary Education Data System.” The report is titled, Postsecondary Institutions in the United States: Fall 2005 and Degrees and Other Awards Conferred: 2004-2005 and according to the article the data shows that “the higher education industry is continuing to expand its capacity to meet growing demand.”
For college students, parents and administrators across the board, this is welcome news.
As I mentioned in an earlier post, due to the rising costs of education, many students who refuse to take on high debt are simply opting out of the system and not attending college. Those who do face the challenge of raising funds for school oftentimes fall short with FREE money or scholarships and find that low-rate government loans do not quite cover the bills. Many advocates of student aid continue to lobby Congress for increasing such federal awards as the Pell Grant, as well as, encouraging public and private institutions to formulate “covered tuition” programs that assist “needy students” in attaining quality education. January marks the opening of the 101st Congress and topics of college financial aid and tuition considerations are rumored to be on top of the agenda. So, perhaps things will shift in favor of borrowers even more once Congress is in session.
U.S. Higher Education Expanding
The article notes increases in several key areas, and it is no surprise that tuition is one of them. While the data does not speak to the quality of education one receives or how well the system is meeting the needs of the students, it does paint a picture of an educational system that is expanding, if incrementally each year. Author Doug Lederman reports that according to the National Center for Education’s statistics, between the 2003–4 and 2005–6 school year “average tuition and fees increased 17.4 percent for in-state undergraduates at four-year public institutions, 13.9 percent for in-district community college students, 12.2 percent for undergraduates at private nonprofit institutions, and 11 percent for four-year students at for-profit colleges. Books and supplies and other expenses were significantly higher for students at for-profit institutions.”
Number of Institutions, Financial Aid Awarded Grows
According to the article, “the number of colleges and universities operating in the United States grew slightly in 2005 – 2006” and those institutions qualified to disperse federal aid to students also increased, with a majority of the overall growth occurring “in the for-profit sector of higher education.” In addition, the article states that according to the Education Department report, the “number of degrees and other awards that colleges and universities granted in 2004 – 2005” exhibited moderate expansion.
Talk to the education financial advisors at NextStudent. They have all the information and advice you need on student loans. Check out www.nextstudent.com.
Be sure to tune in next Tuesday for my next blog about this week in student loans.
Student Loan Girl