New data for public colleges and universities across the country are showing that tuition is skyrocketing for the 2010-2011 school year by as much as 30 percent.
While not all schools have reached this incredible peak, there is no doubt that schools around the country are raising their tuition rates, something that may make acquiring student loans more crucial for students.
Schools with Increased Tuition Rates
While not all colleges and universities have made significant increases, some of the schools that have been noted for increased tuition for the 2010-2011 school year include:
- University of California – 30 percent
- Universities of Nevada and Florida – 15 percent
- University of Washington – 14 percent
The reason for the increase in tuition rates for many schools has to do with recent budget cuts administered in many states. For instance, the University of Washington is raising rates to supplement the $21 million cut in funding from Washington State.
Likewise, the University of California system lost $637 million from the state in the 2009-2010 school year alone.
Student Loans Dwindling
With rates increasing for tuition at a rapid pace, it has become more important than ever that students acquire some type of funding to help them get into school. Unfortunately, with federal student loans dwindling thanks to the financial crisis, acquiring financial assistance is more difficult than ever.
If you find yourself in the position of needing financial assistance, it’s a great idea to apply for scholarships. Also, it’s good to apply for schools with lower tuition. These, along with the backup plan of applying for federal and/or private student loans could help get you into a great school at a small cost to you.