Rising costs have negative impacts on low and middle income families.For them, due to significant increases in tuition fees, its hard to save and budget the costs.
During 1984 to 2007, the average tuition fees were increased upto 500%. For instance, the share of the cost of a five-year public college education has increased from 18% to 25%.
Top five colleges for four-year long public education increased fees 7% in 2007-2008. But bottom five colleges for the same education have increased fees about 55%. On the other hand, interest rates were increased from 5% to 7.9%.
