Lately, there has been much conversation about budgets as they relate to college tuition. When there is more money for state colleges and universities, the impact on college tuition is minimal, but when money is being held back or cut from those institutions, it is the students and their families who most likely shoulder the burden.
Administrators at colleges and universities need to find a magic number. This year, with the economy like it is, they will probably have to increase tuition, but they need to do so in a way that will not cause prospective students to run the other way. That, I'm sure, will not be an easy task.
I recently read a newspaper article that said students at UConn favor an 8.67 percent tuition increase over three other options. The other options included in the student survey ranged from not raising tuition to an increase of 13.6 percent. I guess those students are willing to pay a little more to ensure that services stick around, but they don't want the tuition hike to be overwhelming.
Are you in college, or do you have a kid in college or about to enter college? If so, are you limiting the schools you will apply to because of the economy? Will you transfer schools if tuition increases? Does a tuition increase matter to your daily budget, or is it not an immediate concern because you plan to pay for school through a loan?
Today, a college diploma is important. Could the economy and the cost of higher education change the dynamics of society? Like with everything, only time will tell.
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Aside from the fact that college tuitions actually need to go down a lot, I think any tuition hikes are a really bad idea, mostly for the school that implements them. Like health care, college has become an institution that only accepts those who can pay outrageous fees, which means that tuition hikes eventually price even more "customers" out of the market. That's bad business.
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