Changes in the Cost of College across Income Classes
Here's a little more relating to how access to higher education for poor and middle class students has changed in recent years (e.g. here, here, here, and here):
The Road to College Is Becoming Clogged With Limousines, by Hubert B. Herring NY Times: This year, ... college tuition ... rose more slowly than it did in recent years, the College Board said last week. Yet ... tuition increases again outpaced inflation. ... Deep in the report, though, is another stark reminder that a private college education is increasingly a luxury... In 1992, the cost of attending a private college amounted to 60 percent of the annual income of the poorest quarter of the nation's families, and 33 percent for the second-poorest quartile. By the 2003-04 school year, the cost had spiked to 83 percent of a family's budget in the poorest quarter, and for the lower middle it had risen to 41 percent. And for the richest quarter of families - those with an average income of $143,000? The increase was merely to 19 percent from 17 percent...
Posted by Mark Thoma on Sunday, October 23, 2005 at 12:33 AM in Economics, Universities |
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