The price of college tuition increased significantly in the past few decades. But it wasn’t until recently that many of them charged above a certain price point.
The cost to send your children to school can put serious pressure on your budget. If you find yourself unable to meet necessary expenses after writing a check for college tuition, payday advance loans for bad credit may be able to help keep your financial footing.
The number of colleges that charge more than $50,000 per year in tuition, fees, room and board hit 151 for this school year, according to a report from the Chronicle of Higher Education based on data from the College Board. This was a spike from 123 institutions a year earlier, while only 53 schools charged above this price point in the 2010-2011 academic year.
This was also the first year that a school charged more than $60,000 per year, which was Sarah Lawrence College in Bronxville, New York.
How Can Consumers Keep Up With Rising Tuition Rates?
While only a handful of colleges charge more than $50,000 per year, there are other institutions that offer top-rate educations for a fraction of the price.
To save save on your children’s college education, have them only look as schools with tuition rates below a certain amount. Depending on where you live, there may be a number state school close by that offer great educations at a more affordable price. In fact, the average tuition for in-state college students in $7,635.
Spending four years at an expensive college can be expensive, so consider sending your kids there for only a couple of years. As an alternative, have them attend an affordable community college nearby to accumulate transferable credits at first. They can then transfer into a different institution later to receive their diploma.
Another good way to cut costs it to look for scholarships. There are a number of different programs offered to across the country that could shave decimals off of your tuition bill. However, national scholarships tend to be very competitive, so check if there are any based in your area that may have few applicants.