So You Want To Send Your Kid To A State School? What It Costs Across The Country Samantha Sharf See note please
http://www.forbes.com/sites/samanthasharf/2015/11/04/so-you-want-to-send-your-kid-to-a-state-school-what-it-costs-across-the-country/
How much of the money is spent on drivel….check out: http://www.washingtontimes.com/news/2014/oct/2/golden-hammer-college-hid-95m-in-administrator-boo/?page=all Open the Books.org exposed:
“How a college hid $95 million in expense like booze, shooting clubs”
And: Is There Really a Lack of Funding in Education? The Books are Open.
http://forthegoodofillinois.org/blog/2011/10/is-there-really-a-lack-of-funding-in-education-open-the-books-and-find-out/
Earlier this fall, I published a story questioning the wisdom of Millennials’ above average desire to foot the cost of college for their kids. A reader named Morgan Ownbey commented to accuse me of using “shady stat tactics” by working from the median income and the projected cost of attending an elite private school to calculate the necessary savings rate. Ownbey’s point: “You do not have to save half a million dollar to send your kid to a good state school.”
I stand by my initial response — that my intentions were good and where to go to college is a personal and complicated decision between parent and child — I also stand by my concerns that young Americans’ will be able to save enough to cover the costs of both college and retirement. However, two recent reports suggest Ownbey and I both had a point.
According to a report out this week from the Urban Institute, across the country 81% of college-bound high school graduates enroll at home state schools or private institutions in state. (The latter arrangement can be a money saver if students live with their parents and commute to school.) Authors Sandy Baum, a senior fellow in the Income and Benefits Policy Center at the Urban Institute, and research assistant Martha Johnson, however, make the larger argument that a true sense of the status of public higher education in America requires a state-by-state look.
Baum and Johnson write: “Because most students remain in-state to take advantage of lower tuition, a clear view of cross-state variation is vital for understanding the nature and extent of barriers to college affordability and for developing policies to address those barriers.”
Mississippi has the highest percentage of students remaining in state at 93%. According to new College Board data, Mississippi in state tuition and fees come to $7,147 this school year, while the 19% of Mississippi’s first-time college students coming from another state paid $19,480, making Mississippi among the ten least expensive states to attend public college in state and the 12 least expensive for out-of-state.
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On the other end of the spectrum is Vermont, where in-staters pay the second highest average in-state tuition at $14,993 and outsiders paid the most at $35,710. With just 49% of college-going Vermont high school graduates enrolling in Vermont colleges the tiny northeastern state is, likely not coincidentally, the only place in the nation where less than half of students stick around. Of the state’s college students 71% come from somewhere else.
Another consideration for the college bound? The speed with which tuition and fees are increasing. The average cost of attending a public institution in-state rose 13% over the last five years to $9,410. The variation from state-to-state, however, is huge. In Maine costs have decreased 2% to $9,573. In Louisiana they skyrocketed 52% to $7,871.
And by the way, average tuition and fees for a private four-year school is $32,405 this year up 11% from five years-ago.
Click here for the state-by-state cost of public college.
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