That is how it was when I first went away to college in 1994; I think I paid around $3k a year tuition at University of Missouri. I started planning a 529 for my kids this week and was shocked to find that in state tuition here (South Carolina) is $15K a year for just tuition and fees. I'm scared to imagine what it will be in ten years.
You can still find small regional schools around the country which are cheaper, although not if you have to pay out of state tuition. But between rising healthcare costs and rising administrative costs, each of which represent roughly 50% of the increase in college tuition, with the small remainder being states kicking in less per student.
Without a doubt college is a lot more expensive, and it is much harder to find a school doing things cheaper. Which is why my kids will likely just live at home and get their degrees online. They'll miss out on some college experiences which they can then make up for by not being $80k in the hole when they graduate. I mean most kids are on a 25 year payment plan, which is basically their entire working life.
That is how it was when I first went away to college in 1994; I think I paid around $3k a year tuition at University of Missouri. I started planning a 529 for my kids this week and was shocked to find that in state tuition here (South Carolina) is $15K a year for just tuition and fees. I'm scared to imagine what it will be in ten years.