States squeeze education budgets which signifies tuition increases imminent

Budgets are being trimmed by every state in the union after shortfalls for the past few consecutive years. State universities are feeling the pinch, as advanced schooling is one of the first things to fall in the cross hairs of legislators planning to trim the budget down. Public universities have to institute tuition hikes just to keep up.

Forty three of the fifty states lowered the higher education budget

A total of forty three states have had to cut financing for higher education during the recession of the past few years, in accordance with MSNBC, and it’s not a trend that will likely be reversing soon. Funding for advanced schooling is always on the chopping block when financially difficult times come. This is because raising taxes could be really hard for a political campaign. tuition hikes are happening also with the cuts to state funds for higher education and federal grant cuts. Getting unsecured loans may be necessary for college students. This might be the only way they can get through college.

Less money from federal government too

In the last few months, federal funding for college has been looked at for spending cuts. There could be a huge decrease in federal Pell Grants in 2012. The Christian Science Monitor states this would mean a $5.7 billion decrease. Most four year universities' tuition can be covered by the $4,000 per year limit the Pell may be reduced down to. The cost of attending one year at a public, non-profit university is $16,140, according to College Board.

Too much money needed for school

In just the last 10 years, there has been a 33 percent increase in enrollment at public universities, in accordance with College Board which creates and administers the Scholastic Aptitude Test (SAT). Tuition at public four-year universities has increased by at least 6 percent per year since 2001, and students will bear the brunt of those increases. It is becoming more and more expensive to go to a college which students might end up needing more installment loans to pay for.

Articles cited

Christian Science Monitor

csmonitor.com/USA/Education/2011/0225/Washington-trims-Pell-Grants-How-will-students-pay-fall-tuition

MSNBC

msnbc.msn.com/id/42140407/ns/business-your_retirement/

College Board

trends.collegeboard.org/college_pricing/