This year, universities such as Wellesley College and the University of Southern California increased tuition to over $90,000 — a number unprecedented in college history.
Adjusted for inflation, research from the U.S. News and World Report shows that colleges have increased their rate from 38% to as high as 56% in the past 20 years. Universities have increased their tuition year by year, and in a few years, college tuition and fees may regularly exceed $100,000. As a result, many students have found themselves questioning whether earning a higher degree is worth it even with the cost. And many have been shocked to see the newer prices, even though universities such as USC have been known to be expensive for years.
Palo Alto High School senior Vivian Tan is among the many seniors who are attending university this fall. Tan, who committed to USC, knew that the school was expensive, but was astonished to see this year’s tuition.
“I always knew that USC was a really expensive private school, but it didn’t really set in until I saw they recently posted this year’s tuition,” Tan said. “When I saw it, that’s what I felt like a mini heart attack.”
Although Tan applied for financial aid through the Free Application for Federal Student Aid — which can appear in the form of student loans and work-study — and scholarships to hopefully reduce the cost, she was unable to apply for either of them. “I did apply for FAFSA and all the CSS types of scholarships,” Tan said. “But I am not eligible for those [traditional financial aid], so I am applying [to alternative options for scholarships and financial aid] outside.”
Despite the price, Tan still decided to commit to USC because she thinks the opportunities the school provides are worth the tuition.
“I choose USC mostly because they have really good internship opportunities,” Tan said. “Also, [USC] is in LA. There are a lot of good opportunities for jobs. Also, there’s something called the Trojan network where alumni help USC students out.”
Senior Natalia Hopper was also enticed by the network and opportunities presented at USC, but was hesitant to commit to USC at first because of the price, even though it was one of her top choice universities.
“It’s just that the price is very high and I didn’t think getting in was enough incentive for me to go,” Hopper said. “I eventually committed because I was able to find a way to pay for it through loans. I also work a lot so I can have a lot saved up to pay for it.”
Given recent trends, financial aid will become even more prominent for students. Sandra Cernobori, an advisor in the college and career center at Paly, says that although financial aid may not become easier to obtain, paying for college will continue to be a concern.
“They didn’t necessarily make it easier to get money — that’s beyond our control.” Cernobori said. “I mean, that would be lovely. But, the housing and food costs, what they call room and board, can be very expensive, especially in California, so paying for college is definitely a concern.”
Cernobori also explained that private universities typically have more money to give away in addition to the FAFSA and require another form of financial aid called the CSS profile. But from another perspective, Hopper says that since universities like USC have more money to give away, they can afford to lower the tuition.
“[USC] is a private school,” Hopper said. “I feel like they have a bunch of money saved up. They are pretty well off, at least from the outside. I think it’s a bit ridiculous, and I don’t really know where it [the tuition] goes.”
Even with the adjusted inflation price of college, there is still a sharp increase. Cernobori explains the various reasons why colleges continuously increase their annual tuition.
“The reason they’re [colleges are] raising tuition, they would argue, is to create keep-quality programs, the same numbers of majors,” Cernobori said. “They are competing with other colleges for their facilities. Or maybe part of that is even if they use some of that money to give out scholarships and awards. So they all have these institutional values and priorities that are driving their decisions.”
Ultimately, applying and committing to college is not only about the opportunities a university can provide but also about the ways to make it affordable. As financial aid and merit-based scholarships continue to be prominent, Cernobori emphasizes that it is important for students to talk with their families about the affordability of college.
“I’ll be honest, there are families who don’t always feel comfortable talking about money with their children, but I would really encourage families to have those conversations,” Cernobori said. “Everyone is affected [by the raise of tuition], unless you are one of the very lucky few where money is no object.”