Public universities across the United States are spending money to increase their workforce and then passing the bill along to students, according to an analysis by The Wall Street Journal.
Since 2002, the average flagship university’s spending rose 38%, with a majority of the money being spent on salaries and benefits, which rose by 40% in the same time period, according to an analysis by the WSJ. However, the average tuition cost per student rose 64% to cover the costs of salaries and benefits in the same time period.
The University of Arizona proposed a 3% increase in tuition for all incoming resident undergraduate students, effective in the 2023-24 academic year. Out-of-state incoming students will experience a 4% increase in tuition.
Current students will not be affected by the change, thanks to the Guaranteed Tuition Program, which started in 2014. The program ensures that all undergrad degree-seeking students will pay the same tuition and fees throughout their time at the university.
Critics are taking Biden’s student loan forgiveness initiative to task because they believe it will only raise tuition in the future.
The Education Data Initiative reports that as of January 2022, in-state tuition and fees for a public 4-year university in Michigan climbed 3.31% in the last year. The cost for out-of-state tuition and fees climbed 2.76% during the same timeframe. The cost for room and board jumped a combined 10.59% in the last year.
With the Biden administration’s announcement this week that it would continue the moratorium on student loan payments through the beginning of next year and will forgive up to $20,000 in student loan debt per student, student loan forgiveness is at the top of the current political agenda. Meanwhile, there’s little talk about bringing the cost of college under control, or why the cost of college became so outrageous in the first place.
Arizona’s governing body for the state’s three public universities has given the go-ahead to make an education more expensive.
The Arizona Board of Regents (ABOR) voted to approve tuition and fee hikes at Arizona State University, Northern Arizona University and the University of Arizona. Tuition increases will range from 2% to 3.5%.
The three public universities in Arizona — Arizona State University, University of Arizona, and Northern Arizona University — are demanding tuition increases. They are proposing increases of 2% to 5.6%. A committee of the Board of Regents will vote on the hikes on April 7.
The universities cite inflation as the reason for the increase, with NAU President José Luis Cruz Rivera asserting the increase “accounts for less than half of current inflationary costs.”
An Ivy League law school will start paying tuition for low-income students beginning next fall to diversify its culture and make law degrees more affordable, the Wall Street Journal reported.
Yale Law School will cover the tuition for students with income below the federal poverty line by offering scholarships of roughly $72,000, the Wall Street Journal reported. The scholarship will cover tuition, fees and health insurance while students are responsible for their estimated $21,000 living expenses.
San Diego State University is now accepting donations in the form of Cryptocurrencies such as Bitcoin and Ethereum.
An anonymous donor has sent the school approximately $25,000 worth of Bitcoin, according to the SDSU NewsCenter.
“The SDSU auxiliary will keep almost all of the contribution in the form of Bitcoin instead of immediately converting it all to cash as many other universities have done,” the outlet reported.