There is no question about it, the price of college education went through the roof years ago. Today, any student who plans on getting a private four year college education, can expect to pay around 200,000 dollars in college education costs at the most expensive schools. Of course, the price of college education also takes into account food and board, but students will need a place to sleep and study, and will also need to eat. As such, unless a student earns enough scholarships to make a significant dent in the bill of 50,000 per year, private school is likely out of the question. When you think about it, even if a high school kid gets good enough grades to receive a 50 percent scholarship, he or she will still owe 100,000 dollars at the end of four years.
The price of college education has become so out of control, that attending even the most inexpensive state schools can put students in debt for at least a decade after graduation. For instance, during the 1980 to 1981 school year, the average cost of a college education at a public, four year institution was about 2,550 dollars. During the 2010 to 2011 school year, the annual average cost had risen to nearly 16,000 dollars per year. As far as the price of college education at a private college, the average annual cost for college education at a four year, private college was 5,594 dollars per year, but had risen to 32,600 dollars during the 2010 to 2011 school year. Of course, some of this is duly attributed to inflation. However, it is ludicrous to blame it all on inflation, for that would be an inflation rate of 400 or 500 percent.
While the price of college education is clearly out of control, there are alternatives to college education for those who cannot afford it, or do not want to take out the loans. Although there is evidence that a college education leads to higher lifetime earnings, that number is a bit skewed, since many college graduates never end up making more than their trade school educated counterparts. Whatever path one decides to pursue, it is important to be as certain as possible that the price of college education is worth it in the end.
