Monday, September 14, 2009

Is college still worth the price?

Posted by Jonathan Tse
By Penelope Wang, Money Magazine senior writer
Last Updated: April 13, 2009: 12:36 PM ET

Costs are soaring twice as fast as inflation, even as salaries for graduates are falling. Time to examine the old belief that college is worth whatever you can pay.

(Money Magazine) -- In May, more than 20,000 spectators gathered under blue skies at Wesleyan University in Middletown, Conn. to hear Democratic presidential candidate Barack Obama deliver the commencement address.

After recalling his days as a low-paid community organizer, Obama urged the graduates to consider careers in public service. "I ask you to seek these opportunities when you leave here," Obama declared. "The future of this country - your future - depends on it." His message was received with enthusiastic applause.

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  1. Jonathan, this is a very interesting article! The college tuition is rising at about twice the rate of the inflation according to some experts. The funny thing is that even though the tuition is increasing, people still attend expensive colleges. They borrow even more, and colleges increase the prices even further since they get a feeling that people "can afford it". - Alma Zhumagulova

  2. It is true that tuition is raising a lot. On my freshman year, I think I paid around $45,000 for Syracuse, and now my senior year, I think it is $53,000 now. It is a big different and it'd be so difficult for the middle class families who do not expect this surprise cost. In my opinion, I think the colleges should put this fact into their brochure so people can get ready.
    Quang Nguyen