The high tuition fees of Ivy League schools and the heavy financial pressure
Recently, high school graduates have received acceptance letters from the universities of their choice, but with it, there is a heavy pressure: expensive college tuition.
Tuition at some Ivy League schools has reportedly approached $90,000 per year, while the total price of elite liberal arts colleges has climbed to over $80,000 per year. This rising trend has put some families under heavy financial pressure.
According to the latest data, tuition fees at prestigious institutions such as the University of Southern California, Harvey Mudd College in California, the University of Pennsylvania, Brown University, Dartmouth College, and Boston University remain high. This seemingly endless spiral comes as a result of getting into a top-ranked school in an increasingly competitive environment.
- Brown University says its total cost of attendance for the 2023-24 academic year will be close to $88,000.
- Cornell University announced that tuition and other fees will exceed $87,000 next year, a 4.4 percent increase from last year.
- Middlebury College, a liberal arts college in Vermont, also saw its tuition and room and board costs rise by nearly 5 percent to $83,400.
- Yale's tuition is closer to $91,000, ahead of Boston University's $90,000.
*The picture comes from the Internet
While some schools say they are offering expanded financial aid packages, such as Boston University, which claims it will "meet 100 percent of the financial needs of admitted first-year students who are U.S. citizens or permanent residents," the pace of tuition increases is still overwhelming families.
At the same time, according to statistics, the median annual household income in the United States was about $71,000 in 2021, while the cost of attending a public four-year college rose by more than 200% between 1987 and 2017. This sharp increase in tuition fees not only increases the financial burden on families, but can also put pressure on students to consider future career options while facing high tuition fees.
"If your parents can give you more than $80,000 a year, you'd better know what you want and get a degree that makes a difference. Lenny Leber, a university advisor, said. "Prices have been rising. "As a result, some families have had to reassess their financial situation and their children's future education plans.
*The picture comes from the Internet
How schools and society are coping with high tuition fees
Harvard University recently said that the cost of attendance will reach $91,000 next year. However, the school emphasizes that the average cost to a family is only $13,000, and that many families do not have to pay anything at all. This is made possible by Harvard's vast endowment, which exceeds $50 billion, the largest of any university in the United States, which allows the university to provide full tuition to many low- and middle-income families.
However, unlike Harvard, many other institutions are in a relatively weak financial position, and even middle-class families often face the challenge of paying for their children's education.
Although university officials say they are working to provide financial support to students, the reality remains brutal. Students from poor families may only have to pay 10% of the fee, while for other students, tuition expenses can account for a significant percentage of the family's income.
Wellesley College, a private girls' school located near Boston, Massachusetts, already costs a whopping $92,000 in 2024-2025. Although this may seem staggering, Wellesley College says nearly 60 percent of students receive financial aid, with an average aid amount of $62,000, greatly reducing the financial burden on students.
*The picture comes from the Internet
However, many students are concerned this year that the U.S. Department of Education is experiencing significant problems with a new online form called the FAFSA. This document helps students apply for financial aid, but one of the concerns is that children of undocumented immigrants born in the U.S. are required to provide information related to their parents, which can be one of the barriers to applying for aid.
In response to the issue, financial aid expert Mark Cantrowitz said the new online process could be "an absolute disaster" and could cause some students to not get the aid they need, affecting their chances of attending college.
For society, the rising cost of education could lead to broader social problems, including widening the gap between rich and poor and educational inequality. Therefore, governments and schools need to work together to find effective solutions to ensure that every student aspiring to higher education can afford it and is not limited by financial reasons.
*The picture comes from the Internet
High tuition fees spark discussion among parents
Recently, the cost of higher education has once again become a hot topic on college discussion boards, which has aroused widespread concern and discussion among parents. One parent shared her concerns about college fees in a post titled "Difficult to Justify Costs" and asked other families for advice on paying for their child's admission.
"For us, it's a full $82,000 a year, plus maybe 3 to 5 percent a year," the parent said. This makes her undergraduate degree cost a staggering $348,000!" This high tuition cost is indeed a heavy burden for many families.
At the same time, it has become increasingly difficult to gain admission to liberal arts colleges such as highly regarded Ivy League schools, Middlebury University, Williams College of Massachusetts, and more. Last year, acceptance rates at many Ivy League schools fell to their lowest levels on record. This indicates that the competition for admission to prestigious universities is becoming more and more fierce.
This may be due to the fact that the number of applicants to top schools is increasing, but these universities are not expanding their enrollment. This has led to a sharp drop in the acceptance rate, such as Harvard's acceptance rate dropped by 7% last year.
*The picture comes from the Internet
High tuition fees have sparked reflection on the financial pressures of attending college for some families and students. Critics have questioned whether "elite" education is really worth the cost, while some blame factors such as university rankings for exacerbating the issue of income inequality.
However, top universities have different views on tuition fees. "Regardless of a family's financial situation, going to college is a significant investment," Brown said. "It also reflects the school's perception of the value of education and the return on investment.
In the face of rising school fees, students, parents, schools and governments need to work together to find long-term solutions to ensure equity and accessibility to education. Because education is not only the pursuit of individuals, but also the well-being of society as a whole.