© 2020 by The Manners Group.

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  • Beth & Tim Manners

College Costs: Still Less Than the Benefits

CNBC: "During the 1978 - 1979 school year, it cost the modern equivalent of $17,680 per year to attend a private college and $8,250 per year to attend a public college. By the 2008 - 2009 school year those costs had grown to $38,720 at private colleges and $16,460 at public colleges. Today, those costs are closer to $48,510 and $21,370, respectively. That means costs increased by roughly 25.3% at private colleges and about 29.8% at public colleges. Still, earning a college degree remains a strong investment."


"In 2018, college graduates earned weekly wages that were 80% higher than those of high school graduates. The Bureau of Labor Statistics reports that Americans with a bachelor’s degree have median weekly earnings of $1,173, compared to just $712 a week for those who have a high school diploma."


"Lackluster state funding is a major reason for rising college costs. From 2008 to 2018, the average tuition at four-year public colleges increased in all 50 states. On average, tuition at these schools has increased by 37%, and net costs (including factors like scholarships and grants) have increased by 24%, according to a 2019 report from the Center on Budget and Policy Priorities ... A typical trope is that colleges today spend exorbitantly on frivolous luxuries such as climbing walls, hot tubs and lazy rivers for students. This kind of spending is rare."