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Warning! – Double Digit Tuition Increases Ahead

The title of this article could probably reflect what a street sign would look like if it were placed near a campus that was getting prepared to hike tuition rates by at least 10%…or more.

Tuition increases have far outpaced inflation over the years but I have been a little hopeful lately as I see more and more colleges implementing modest to no increase in their tuition rate. That was of course until I got news about some recent bumps in tuition that students will be feeling next academic year in their wallets.

The first is Temple University, found in Philadelphia, Pennsylvania. They recently announced that they will be increasing tuition by 10 percent for in-state students and 5.4 percent for out-of-state students for the coming academic year. The percentage increase impact in dollars comes to about $1,200. The total in-state tuition at Temple will be $13,006 and the out-of-state tuition will be $22,832.

The second is the University of Tennessee college system. The trustees recently voted in approval of a 12 percent tuition increase at their main campus. This will bring the Knoxville campus’s annual tuition rate to $8,396. Ten percent increases were also approved for the satellite campuses located in Martin and Chattanooga.

To the credit of each of these Universities, the double digit increases were not adopted without hesitation and it does appear that a decrease in state funding is to blame in each situation (or at least that is what University officials are claiming)… Of course, I have already offered my solution to all the state budget woes and the impact it has on education funding for colleges.

If you are a student that is attending one of the colleges above, or you just find yourself having a difficult time absorbing the tuition increases at your school, I encourage you to check out this article for help in dealing with rising college costs. Also, it never hurts to browse over our College Resource Center for additional assistance and ideas.

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