Photo courtesy Stockvault
December is a time for a lot of things, but for me, it always means paperwork: filling out benefit forms, filing insurance claims, and throwing whatever money I can find at long-neglected retirement accounts. This year, I’ve also got to throw money at a 529 or education savings account for my 9-month-old son. And even though a higher education is some 18 years away, a rash of stories about the rising costsand what that means for access for students from lower-income families– already has me worried.
We know that college costs have been dramatically outpacing inflation the last few years, and many high school students are scrambling after their 529 and college accounts lost value this year.
What brought the issue to the forefront this year was when the University of California systemwhich includes the renowned UC-Berkley and UCLA–announced a few weeks ago that it was raising in-state student fees more than 30 percent. Students are protesting the hikes and questioning whether they and others will be able to afford their education (and many professors and education analysts are also questioning whether the university system will be able to retain its high quality and reputation in light of such hikes.)
But a more interesting phenomenon brought on by the recession seems to be the rising interest in community colleges as an alternative to higher-priced state universities and private colleges. The Washington Post, for instance, tells about Kira Cassels, an honors student from Maryland who was accepted at schools such as the University of Virginia and Franklin & Marshall College, but decided instead to spend her first two years at a local community college that was offering an honors track.
In the article yesterday, the Post writes, “Recession-wary students are flocking to selective two-year programs, which allow students to complete half of their college education for about $8,000, then transfer to a more prestigious four-year institution.”
These days I’m hearing about a lot of students who are planning to go to one of our nearby Northern Virginia Community College (NVCC) campuses. They’ll save money not only in tuition costs but also by living at home.
If a community college is the best option, then creating an honors track for these students is keythese students need the stimulation of a rigorous course and need peers with their level of intellect in their classes.
In the meantime, I’d bet that option will become a lot more popular if college costs continue to rise. According to the calculations for my son, a $5,000 a year contribution for 18 years will get him about halfway into his junior year at a state university, only about halfway into his sophomore year at a private college. Many families aren’t able to afford any contribution, and without dramatic changes to the means for financing a higher education, this situation won’t get any better.
Joetta Sack-Min, Associate Editor
