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Wednesday, January 29, 2014

Whackademia Quote: Who Can Afford College?

     The average cost of tuition, room and board at private four-year colleges and universities has increased 27.89 percent--from $31,993 during the 2008-2009 academic year to $40,917 this year [2014]. At public four-year colleges and universities, the average cost has risen 27.96 percent--from $14, 372 in 2008-2009 to $18,391 this year.

     According to the inflation calculator provided by the Bureau of Labor Statistics, the $31,993 total price tag for a private school in 2008 would be equal to just $34,616 at the end of 2013 if college costs rose at the rate of inflation--a far cry from the $40,917 an average student is paying this year. Similarly, the $14,372 total price tag for a public school in 2008 would be equal to just $15,550 at the end of 2013--substantially less than the $18,391 an average student at a taxpayer-funded public school is paying this year.

Eric Owens, The Daily Caller, January 22, 2014

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