Got Tuition?
As students head back to campus for the fall semester, they’re looking forward to new classes, reuniting with friends and hopefully catching some good college football games.
But many of them also are looking ahead to something less exciting – the prospect of repaying thousands of dollars in tuition debt.
Over the past 20 years, tuition and fees at both 2-year and 4-year public colleges have more than doubled – up by 129 percent at 4-year colleges and by 134 percent at 2-year colleges.
Despite these skyrocketing costs, the maximum federal Pell grant for this school year is only $4,310. In 2004, about two-thirds of graduating seniors or their parents had borrowed for undergraduate education – up from 46 percent a decade earlier. During the same period, the average amount borrowed rose from $9,297 to $19,202.
Graduates in every field face an uphill battle in repaying this massive debt. And our economy will suffer because of it – such high debts create unneeded barriers to buying a home, saving for the future, and realizing middle-class financial success.
It’s especially difficult for Michigan’s new teachers who start with an average salary of around $34,000. Even while picking up second jobs to help make the minimum monthly payments on their college loans, these dedicated professionals may face a lifetime of debt.
At both the state and federal levels, we need to do more to control the cost of college. The state needs to meet its funding obligations to higher education – state funding has slipped 10.5 percent since 2000 (according to www.mitaxtruth.com). And in Washington, we need to invest more in student loan and grant programs.
The National Education Association has a new Web site dedicated to the cause – www.gottuition.org. Check it out and learn more about the situation and what can be done – including where the presidential candidates stand on the issue.
By Doug Pratt, MEA Communications
Comments
A huge concern in my life
This issue is one that I think about each and everyday. I am near graduation from a 5 year teacher education program and will be around $30,000 in debt.
Since my junior year in high school I have been financially independent and so I have had to depend greatly on financial aid in terms of scholarships, pell grants and loans. I qualify for the maximum pell grant each year, but that is not even near the amount to cover my education and living expenses.
On top of the massive amount of loans I have had to take out, I also work 30 hours a week while attending school. Its not just the tuition that is weighing me down. I have to pay for living expenses, school supplies, etc. I do not have insurance, so a trip to the doctor means more money to be spent.
I try not to complain, because I am bettering my life and creating great opportunities for myself. However, it is a scary thought to think that my school loans are going to about equal my pay for a whole year as a teacher.
I know that once I get into the classroom I will realize that all of that money is completely worth it because I will be doing what I have always wanted to be doing. But I think it is very important to push our politicians and vote for those who will help reduce the cost of a college education. I hope that years down the road, when my children are headed off to college they don’t have to face quite the burden that I had to.