College isn’t getting any cheaper and we all know it. But this year, and those that follow, will be particularly expensive. Colleges around the U.S. are planning to hike their tuition rates higher than ever before. The AP is reporting that:
Florida college students could face yearly 15 percent tuition increases for years, and University of Illinois students will pay at least 9 percent more. The University of Washington will charge 14 percent more at its flagship campus. And in California, tuition increases of more than 30 percent have sparked protests reminiscent of the 1960s.
We live in a world where without financial aid it is possible to leave college with a bill of over $200,000 dollars. Seriously. If you were to attend Sarah Lawrence College, which at $54,410 dollars a year is America’s most expensive college, you would pay $217,640 for your bachelor’s degree. And that’s with no tuition increases. Realistically, accounting for the national average of an 8% annual tuition increase, you’d pay $245,175 for a degree from Sarah Lawrence.
If you were to go on to, say, law school at Columbia University directly after graduating from Sarah Lawrence, the total cost of your education would be $507,072. That’s a lot of money no matter who you are.
True, degrees do usually lead to higher salaried jobs, but if you were to pursue a masters degree in something else—something for the good of humanity—like social work, or elementary education, or decided to go pro-bono with your legal career, you’d be completely screwed. The average salary of a teacher is somewhere around $42,500. Try paying off debt of more than half million dollars on 42 grand a year and having food on the table.
Granted, the figures above don’t consider financial aid, scholarships, or parental funding. But even with help from those three factors, education still carries a hell of a price tag.
Take my case. Even after help from a hefty scholarships, some Uncle Sam financial lovin, and my mom’s generosity, the combined price of my B.A. and M.A. will cost me over $100,000. That’s more money than I’ve ever seen. And when I start to think about that sum of money, my mind trails off to all the sweet stuff I could have bought with $100,000 dollars. Here is a small list of the could-have-beens that top my list:
Suddenly those degrees don’t seem so sweet.
Florida college students could face yearly 15 percent tuition increases for years, and University of Illinois students will pay at least 9 percent more. The University of Washington will charge 14 percent more at its flagship campus. And in California, tuition increases of more than 30 percent have sparked protests reminiscent of the 1960s.
We live in a world where without financial aid it is possible to leave college with a bill of over $200,000 dollars. Seriously. If you were to attend Sarah Lawrence College, which at $54,410 dollars a year is America’s most expensive college, you would pay $217,640 for your bachelor’s degree. And that’s with no tuition increases. Realistically, accounting for the national average of an 8% annual tuition increase, you’d pay $245,175 for a degree from Sarah Lawrence.
If you were to go on to, say, law school at Columbia University directly after graduating from Sarah Lawrence, the total cost of your education would be $507,072. That’s a lot of money no matter who you are.
True, degrees do usually lead to higher salaried jobs, but if you were to pursue a masters degree in something else—something for the good of humanity—like social work, or elementary education, or decided to go pro-bono with your legal career, you’d be completely screwed. The average salary of a teacher is somewhere around $42,500. Try paying off debt of more than half million dollars on 42 grand a year and having food on the table.
Granted, the figures above don’t consider financial aid, scholarships, or parental funding. But even with help from those three factors, education still carries a hell of a price tag.
Take my case. Even after help from a hefty scholarships, some Uncle Sam financial lovin, and my mom’s generosity, the combined price of my B.A. and M.A. will cost me over $100,000. That’s more money than I’ve ever seen. And when I start to think about that sum of money, my mind trails off to all the sweet stuff I could have bought with $100,000 dollars. Here is a small list of the could-have-beens that top my list:
- A Mercedes-Benz G Wagon (pimpin’ ain’t easy, but it’s necessary).
- Almost two trips to the top of Mount Everest (chicks dig adventure).
- 2,500 Red Sox tickets (that’s 34 years of glorious baseball).
- 150,151 Miller Lites (that’s enough beer to will to the grand-kids).
- 125,000 pounds of radishes (great vegetable, and affordable too).
- A semi truck (high bad-ass factor and also brings earning potential).
- 28,735 boxes of Count Chocula breakfast cereal (no explanation necessary).
- 320 acres of land in Box Elder county Utah (that’s a half square mile).
- 10 clowns to follow me everywhere and “clown around” for 10 days straight.
Suddenly those degrees don’t seem so sweet.
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