Today's High Cost of College

Throughout the next few weeks, I am going to explain some of the concerns that parents have about sending their children to college. Perhaps children feel the strain also, but more often then not it is the parents who feel the financial strain.

So, why is it so expensive?

Okay, to begin with, over the years, there's been less and less aid that is coming in from the governmental sources because of the federal cutbacks constantly happening. There just isn't as much tax dollars flowing to financial aid as there used to be.

The second this is that obviously, with inflation and everything else, just like you like to get increases in your salaries, for your jobs, teachers like to get increases in their salaries. So, it's costing more to keep good professors on college campuses.

There's also cost of maintenance, upkeep, repairs. I mean if you've ever taken a look at a university, it's an enormous undertaking to pay and keep up all the facilities that exist on a college campus.

Also, there are enormous changes in the technology, especially with the computer age and the information boom, schools want to keep up or keep pace with what's going on with technology and there are enormous amounts of investing going on and keeping up with current equipment.

Lastly, college costs are increasing by as much as a staggering 20%. There are many reasons why such substantial increases are occurring across the country, but largely shrinking endowments and state budget woes are mostly to blame.

Stay tuned in the coming days for the next topic where I will talk about why it is expensive, no matter where your child goes.