Student debt mounts as tuition costs rise

By Kristen Catalanotto
October 16, 2003

Soaring up like a fighter pilot’s jet, tuition costs continue to sky rocket yearly.

Each year when students return to Cabrini, their fee for attending the college is never the same. The costs go up a few thousand dollars a year. Students and their parents continue to ask themselves, where all the money is going.

The college administration insists that the money is going to further the educational process of the students.

It’s not just Cabrini’s tuition that keeps rising. Colleges and universities all over the country are also increasing the amount of money it costs to attend their institutions.

State schools are typically not as expensive to attend, but recent studies have shown that their costs are going up each year as well.

Because of the increase in tuition, students are then prompted to take out more federal loans, “Those students who commit to higher education…are more likely than ever to end up taking out loans-which have to be repaid-instead of grants, which do not,” according to Education Week.

Students, because they have taken out loans, are more likely to work a full-time job in order to pay back the debt that continues to pile up each year.

The popular Pell Grant is what many students turn to in order to afford their higher education. This academic year, “an estimated 4.4 million-are expected to receive Pell Grants,” Education Week said.

According to Chad May, the coordinator of institutional research and outcomes assessment, 92 percent of full-time Cabrini students receive some sort of financial aid.

Many states including Ohio, are looking at enforcing tuition caps in order to make sure costs don’t dramatically increase every year. Those who appose tuition caps say that putting a limit on the amount of money schools can charge can inhibit their ability to purchase essential items to further their educational environment.

Posted On The Web By: Rob Cain

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Kristen Catalanotto

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