Tuition, fees used to pay off skyrocketing university IOUs - RICK BRUNDRETT, the Nerve

If you’re a parent of a student attending a South Carolina public college or university, you probably haven’t been told how a good chunk of rising tuition and fees is being spent. The total debt incurred mostly by those schools – primarily for building projects – shot up nearly 93 percent to $2 billion from fiscal 2008 through fiscal 2017, according to S.C. Commission on Higher Education (CHE) records. By law, most of that amount is supposed to be paid off with non-tax revenues, which include tuition and other student fees, a review by The Nerve found. The school debt load per full-time student, including graduate students, as of June 30, 2017, averaged $17,583 – a nearly 60 percent hike from fiscal 2008, CHE records show. Another collective $130.4 million, or $2,464 per full-time student, was owed as the end of fiscal 2017 by the state’s technical colleges. https://thenerve.org/tuition-fees-used-to-pay-off-skyrocketing-university-ious/