College tuition has been hiked by about 40% because of decreased state funding. This has been detrimental because the cost of higher education has risen to historic levels in the last ten years.
According to a report by the Center on Budget and Policy Priorities, a budgetary think tank, the average college tuition at four-year public institutions across the 50 states had risen by 40% between 2008 and 2018. This translates to a little above $2,700.
College tuition hikes to historic levels
State funding has plummeted by $6.6 billion, and this has instigated dire consequences because college tuition has risen to historic levels.
Researchers have noted that the rise in college tuition emerged at a time the U.S. financial crisis was being witnessed, and this was not a coincidence.
The report notes:
“Many states closed revenue shortfalls after the recession and its subsequent sluggish recovery through sizable budget cuts, as opposed to pursuing a more balanced mix of responsible and targeted cuts and revenue increases.”
It is also stipulated that between fiscal years 2008 and 2012, for each $1 raised by state lawmakers in new revenue, $3 was cut was from existing spending.
As a result, in the 10-year period, 41 states were forced to spend less on each student. This translated to an average of 13% less.
However, some states, such as Pennsylvania, Oklahoma, Mississippi, Louisiana, Arizona, and Alabama, were made to cut each student’s funding by at least 30%.
College tuition increases twofold in some areas
College tuition in some regions reached bizarre levels as it doubled. For instance, college fees at four-year institutions in Louisiana increased twofold.
Additionally, the cost of attendance in some states, such as Hawaii, Georgia, Florida, Colorado, California, Arizona, and Alabama increased by more than 60%.
These sharp elevations of college tuition have been harmful as they have made college less affordable.
The issue of college fees has been contentious in American society. Some legislators have weighed in the matter, for example, Senators Elizabeth Warren and Bernie Sanders have been proposing for tuition-free colleges.
