As stated in one of our earlier blogs, the prices of college are increasing, and relentlessly so. This is seen especially in public schools, where schools like the University of California are creating tuition hikes as high as 32% over two years.
This financial turmoil however, is all amidst a time when financialaid is also continuing to rise. In a recent article in the New York Times, an economist for The College Board talks of how now, more than ever before, both the Federal Government and private entities (including schools themselves) are providing more aid to the students, making the net cost of going to college lower than it was 5 years ago. The reason behind a lot of the skewed numbers lies within the fact that many of the people who attend the most expensive universities (ie, private universities)are upper class and thus, are indeed forced to pay the full tuition. The NYT write about how those who seek aid generally end up successful, especially if they need it. As a result, a college education is becoming more financially feasible for those who pursue the opportunities to make it cheaper.
For the original article, see this link here: http://thechoice.blogs.nytimes.com/2009/11/19/costs/