Tuition rates are rising rapidly, making the goal of a quality college education much harder to obtain for many families. The financial crisis that is currently gripping the country has further decimated the budgets of many Americans who were already teetering on a fiscal cliff. As a result, people are spending less, meaning that states are collecting less in taxes, which ultimately leads to cuts in state budgets. At least here in Colorado, higher education is one of the first programs to endure budget cuts, leaving schools with already lean budgets and tight operations with few options other than raising tuition costs. One CU Boulder professor has suggested getting rid of in-state tuition, and charging a flat rate for all students as a way of helping to ease the budget crisis there.
The price of education has tripled since 1990, making this goal unobtainable for many. I attended a local junior college for two years at a much cheaper rate than I would have faced at a four-year university. Even then, I fought for every scholarship, grant, and work-study job that I could get my hands on. Graduating in 5 1/2 years, my student loan debt was a "manageable" sum of $17,000. I'm glad I took the path that I did...attending a junior college, then transferring to an in-state university. I'm even more glad that I was able to complete the first stage of my education almost 20 years ago.
Students today are graduating with tens of thousands of dollars of debt into one of the worst job markets in recent memory. For example, the in-state tuition for a CU undergraduate in the business program is almost $6900 per semester. A student from out of state, in that same business program, will pay $16,200 per semester. This is before any fees or living costs are added to the bill. Unbelievable!!! That is as much as I had in total debt for 5 1/2 years! And these figures are for a public university. Some private universities are charging $35,000 per year in tuition and fees! Thankfully, many schools, including CU Boulder, are offering an out-of-state undergraduate tuition guarantee that will lock in the current rate for your undergraduate classes.
My family was not the most well-off when I was growing up, so when it came time to look at attending college, I chose the most economical options available to me. Attending a private school, or even an out-of-state school, was simply not an option for me. Some families are able to afford sending their children to out-of-state schools with a good reputation, including CU Boulder, which is touted as Colorado's "flagship" school. With the cost of out-of-state tuition so high at CU, many students are looking at options to help reduce their costs. A recent article in the Boulder Daily Camera tells of a company named Tuition Angels that guarantees that they will get you in-state tuition faster than waiting for the one-year residency requirement, or you pay them nothing.
Of course, this service comes at a cost. From the Daily Camera article: "Tuition Angels doesn't charge students unless they gain residency. Then, the company charges 10 percent for what students would have paid for out-of-state tuition due every semester the student pays in-state tuition." For some, this would equal an annual savings of almost $20,000. "Tuition Angels' website tells students: 'There's more gray area than you know and we are experts at navigating that gray area' and 'we guarantee to get you in state tuition in the fastest way legally possible or you pay us nothing.'"
Worth it? I think each person needs to weigh the risks and rewards carefully.
I always assumed that low in-state tuition rates were a means of keeping students from leaving the state, more so than high out-of-state tuitions were a means of punishing out-of-state students. Chances are, if a student is considering an institution that is out-of-state, they are able to afford the higher tuition rates. No matter which career field one is wishing to puruse, there are very respectable in-state options, regardless of the state in which they live. Choosing an institution out-of-state is usually done because of reputation and prestige of that institution. Sorry, but good repuation and prestige are not free, and out-of-state students must pay up if this is the path they choose.
ReplyDeleteA quick editorial comment---Tuition angles is a scam and no better than companies that claim to repair credit ratings.
ReplyDeleteI had immediate concerns when I saw advertisements for Tuition Angels (using sidewalk chalk) at the beginning of the school year at CU-Boulder. Although I am not fully versed in the requirements to obtain residency for tuition purposes, I know that the criteria are set by state legislature. I was incredulous by the claims of this company, and hope that students' were not misled by their claims.
ReplyDeleteOn a separate topic, CU-Boulder's budget is heavily tuition-dependent. Each out of state student makes up for the inadequate state funding for two resident students -- hence the huge differential between resident and non-resident tuition. The loss of less than 100 out of state students results in millions in shortfalls. That is why we push so hard to maintain our student population as close to the state mandated ratio of 55% resident / 45% non-resident students as possible. A flat tuition rate would have to be set closer to that of non-resident prices than resident prices, and that rate increase would price students out of the market to the point where the university could not remain financially feasible. On the bright side, state funding is expected to drop to just 2% of our overall budget by next year, so we may not have to deal with state legislature's rules much longer!
Although I like the idea of a flat rate and the financial relief it may offer students, I believe it may take away from the "family values" that are unique to each state institution by encouraging students to travel out of state to pursue a degree. I am a big fan of community vaues and giving back to the community. In-state tuition gives students incentive to stay in-state and add to the values that are unique to each state institution.
ReplyDeleteI do believe there are advantages to the flat rate scale. This framework gives students the flexibility to attend out-of-state institutions and bring their unique experiences and viewpoints to campuses across the United States. This would enhance the learning opportunities for students at each institution.