50K is the New 20K
Tue. 03 2009 | Todd G.
The latest survey from the Chronicle of Higher Education establishes a new elite club for colleges across the country: the 50K Club. No, this isn’t a club that relates to frequent flier miles, rather it’s a club for schools with tuition over $50,000. Fifty eight colleges now charge that amount of schooling, that’s up from five colleges a year ago. Yes, I said five. Of course, the schools on the top are no strangers to large sticker prices, and include places like NYU, Sarah Lawrence, and Vassar. And it’s no surprise that tuition is higher, we’ve had countless stories about this in the past few months, however…
How much higher will it go? To see this kind of leap inside of a year is extraordinary. With the added possibility of inflation in the coming years, we may see these rates skyrocket even more to make up for the loss of value in the dollar. So what does a $50,000 education look like? Keep in mind these prices include room and board. So you are getting fed and educated. Plus, all of these schools are private institutions and have books to balance and expansions to pay for. No doubt that public schools will also be raising their prices to keep up with expenditures. Consider that 50K a year is a $200,000 bill in four years time. How does that sound?
