Thursday, August 12, 2010
(graphic: CBC News)
Going to college is costing considerably more than just two years ago, forcing the majority of minority students to live at home. A new survey produced by Sallie Mae found the average cost of attending a university or college in 2009-2010 was $18,659, a 17% jump from the year before and a 28% increase from the reported cost of $14,628 in 2007-08.
Even community colleges have become significantly more expensive, with the average cost rising by 26% from one year to the next.
To save money, a reported 43% of students lived at home last year. That figure increased to 57% for families with annual incomes of less than $35,000. The rate was highest for Hispanic (64%) and African American (58%) students. Thirty-six percent of white students said they lived with their parents while seeking higher education.
-Noel Brinkerhoff
How America Pays for College (Sallie Mae) (pages 29 and 44-45) (pdf)
College Tuition Climbing Faster than Income and Inflation (by David Wallechinsky, AllGov)
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