Why is college tuition rising faster than inflation?
Because colleges and universities can charge more when students and parents are willing to take loans to pay the tuition.
On average tuition is going up at a rate of about 8% per year. Like the housing market before the bubble burst…easy money means higher prices. And a lifetime of student loan payments just isn’t worth it.
Student loan debt has officially surpassed credit card debt. One of the reasons may be that you cannot declare bankruptcy on student loans.
My advice, go to the best college or university that you can afford to pay cash for the tuition and living expenses. And even if you can afford to pay cash for an expensive school consider a less expensive one because the Ivies just aren’t worth it.