Rising college costs examined in Lumina Foundation Focus
Not long ago, it was the college acceptance letter that mattered to ambitious and hopeful high school seniors. That message was the key that unlocked the future and set young people on their course. These days, another piece of paper often matters more: the financial aid package.
Because of the spiraling cost of college, more and more students are struggling to reach their goals — a fact we explore in the latest issue of /Lumina Foundation Focus/ magazine, titled Dreams Detoured: Rising college costs alter plans and threaten futures.
This issue, written by noted education journalist and Columbia University instructor Steve Giegerich, analyzes several of the interrelated factors that contribute to the college cost problem: the decline of state funding, the inability or failure of families to save for college tuition and expenses, and the diminishing effect of the Pell Grant.
At the heart of the matter are the students — students whose college experiences are often burdened with part-time jobs and transfers to more affordable institutions; students who spend more time wondering how to pay for their books rather than reading them; students who choose the college of their dreams and then must settle for the less expensive “Plan B.”
College affordability affects students of all ages, backgrounds and incomes in several ways. Here are a few of the stories highlighted in this issue:
- Ashley Stockdale had her heart set on attending the University of Iowa. She was accepted, only to find out that she could not afford to attend. Instead, she’s attending a local community college.
- Brenda Liddle is a senior at Northern Iowa University. Despite working as much as 30 hours a week, she will graduate with a loan debt of nearly $50,000.
- Kristin Valentine chose Atlanta’s Spelman College to continue her education. With tuition at $24,000, plus about $4,000 for room, board and expenses, she worked tirelessly to locate private scholarships. She received $14,000 in scholarships and $2,800 in Pell Grants. After investing hundreds of hours in the search, Kristin will still need loans to cover about $10,000.
- Mark Mosley is a senior at Martin University in Indianapolis. He has spent 25 years as a college student, often taking one class at a time. His education process is an example of an increasingly rare option for students: “the pay-as-you-go” plan.
Money is dictating the paths these students take. Community colleges are often a viable alternative, but two-year colleges also feel the pain of rising costs as community colleges struggle to serve a burgeoning number of students.
This issue of Lumina Foundation Focus magazine is just one step in a larger initiative under way at Lumina Foundation. The initiative, College Costs: Making Opportunity Affordable, seeks to develop and promote solutions to rising college costs. For more information, read our policy brief Collision Course: Rising college costs threaten America’s future and require shared solutions (PDF) and visit www.collegecosts.info.
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