Will Education Become Unaffordable for Most Americans?

Jaylen Waddle
Jaylen Waddle

Here’s a really disturbing article in the New York Times about educational affordability. According to the New York Times, if the price of education rises as the same rate that it has, a college education will become unaffordable for the majority of Americans.
Yes, you read that right.  The majority of Americans.
The Times cites a report from the National Center for Public Policy and Higher Education, which found that:

  • In the past 25 years, college expenses have increased 429 percent, while median family income has increased 147 percent.
  • In 2007, the average cost of a year at a public university amounted to more than a quarter of the median household income.
  • In 2007, the average cost of a year at a private school amounted to more than three-quarters of the median household income.

So are we actually going to reach a point in American history where a college education will become a luxury?  We certainly seem to be moving in that direction, huh?
See President-Elect Obama’s plan to support college education.

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