College Cost Bigger Factor than Quality, Diversity
July 17, 2008
by Scholarships.com Staff
According to West Virginia’s The State Journal, a recent poll indicates that Americans are prioritizing the affordability of a college education over other factors. Though criteria such as scholastic quality, distance and diversity were also critical, the cost of a school topped the list as most important.
With college costs continuing to outpace inflation and graduates finishing school with growing debt, families are beginning to realize that attending schools within their means may be more important than attending ones of greater prestige. A recent report from the National Center for Education Studies (NCES) stated that during the 2005-2006 school year, 46 percent of first-time, full-time students who sought a degree took out student loans, a few graduating more than $100,000 in debt.
The Chronicle of Higher Education Gallop Poll indicated that, though there were conflicting views over whether the government or the public should be responsible for much of the cost, most agreed that colleges should contribute to the solution by spending a larger percentage of their endowment funds.
As the media focuses on problems of national debt, controversy has grown over the use of annually increasing endowment funds acquired through donations to colleges. Though endowment contributors frequently create stipulations about who may or may not receive their scholarship money, the public has pointed to the questionable nature of storing funds and increasing tuition, especially during a time when debt has become a growing problem for students.