It's no secret that second to the upward spiral in the costs associated with healthcare is that associated with college tuition. Forget inflation...it's hyperinflation.
But, guess who's getting worried about the high cost of tuition?
Yes, parents are and so is President Obama.
But, more importantly, academic administrators at the nation's public universities and colleges are getting really worried.
According to an article in the Wall Street Journal, 37% of 103 academic administrators surveyed reported being "very concerned" about maintaining current enrollment levels. That's up 23% from last year's survey.
With the average tuition and fees for full-time, first-year undergraduates at four-year state schools $7,526 for the 2012-2013 academic (a rise of 6.7% from the 2011-2012), maintaining enrollment is becoming worrisome. Why? With less cash available, lower credit scores, and tighter standards for underwriting loans, many families are wondering whether the return on investment is worth the opportunity cost.
More odious from the perspective of the academic administrators is that tuition now accounts for 50% of the operating revenue of most public universities. That's up from 23% two decades ago.
Now, if President Obama could only bend down the cost of college tuition the same way he did the cost of healthcare, wouldn't that just be dandy?
Let the discussion begin...
To read the Wall Street Journal article, click on the following link:
"Colleges Worry Their Big Bills Will Keep Students Away."