Brandon
Why does college cost so much?
I'm just curious because frankly, the prices seem ridiculous. $9,000 for housing? Really? What is the actual reason they cost so much, and are they just extorting tons of money from unsuspecting victims? #law #accounting #money-management
3 answers
Bruce Plesser
Bruce’s Answer
The shame is online colleges cost, in many instances as much ad elite private schools which offer more. Good schools pay high salaries. They have high costs. Books dorms and food cost money. Inflation causes higher cost than in years past.
Mina Henawi
Mina’s Answer
This can be explained for a variety of reasons — including a significant increase in demand, with many more people wanting to attend college. And with such a competitive market, some colleges raise their prices to create a false perception of quality.
Other factors include an increase in financial aid, a lack of funding from the state, increased student services, and last but not least, an increased need for faculty, as well as the need to pay them higher salaries. The hefty cost of college today has made obtaining a degree far less beneficial than it once was a decade ago.
Richard Strasser
Richard’s Answer
College costs vary depending on location, whether the school is public or private, and other factors. As far as $9000 for housing, it depends where the college is. Housing costs in New York (and other major cities) are high so the housing costs for colleges in those areas may reflect that. Housing at a college in a rural area may be a lot less expensive (or not). If not, then the college may be using housing costs to subsidize other costs of running the college. Not all colleges require students to live on campus, so students can sometimes cut costs by living off campus and sharing space with others. Tuition and mandatory fees are another matter. You can't really get around paying those unless you get grant financial aid that you don't have to pay back. As long as you do your research you are not an unsuspecting victim because you can choose where you go to college and where you live when you get there. Make informed choices based on research and you can save a lot of money and still get a high-quality education. Some students work as resident advisers in the dorms and the housing is free (or greatly reduced).