For the first time, some private universities have surpassed the $90,000 threshold in annual costs (including tuition, room and board, and other expenses), without financial aid. Economist Jose Gonzales spoke to Voz Media and revealed that this upward trend has been present in the country for years.
The economist's statements coincide with a report by Georgetown University's Center on Education and the Workforce that notes that since 1980, college enrollment has increased by nearly 170%.
Student loan forgiveness and universities with higher tuition increases
The cost of college may also be affected by President Joe Biden's student loan forgiveness. The latest forgiveness involved a cost of approximately $1.2 billion to the public. The total cost so far amounts to about $138 billion for the country. However, Gonzales points to inflation as the main factor influencing the price increase.
Among the universities with the largest tuition increases are the University of Southern California at $95,000 per academic year, the University of Pennsylvania and Brown University in Rhode Island at $92,000, Harvard University in Cambridge, Mass., at around $91,000, and Boston University at $90,000.
