Thursday, July 2, 2015

This is why state colleges cost so much - Tom DiChristopher, CNBC

Stubbornly low funding for state colleges is driving up the cost of tuition for American families and exacerbating underlying problems in public university systems, experts said Thursday. The average student in the class of 2015 is graduating with $35,000 in debt, making it the most indebted cohort on record. The pain is being felt in particular at state universities, where the cost of an education has risen 50 percent faster in roughly the last decade than at private schools, according to Peter Cappelli, professor of management at the Wharton School of the University of Pennsylvania. As states have cut back on support, the only way to close funding gaps is to raise tuition, he told CNBC's "Squawk Box."

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