College costs climbed to an all-time high in 2012 while state and local funding for items such as operating expenses and student aid fell, a new report shows. According to the latest State Higher Education Officers Association report, tuition for public colleges and universities rose 8.3 percent for the 2011-2012 school year, pushing the average cost up to $5,189. At the same time, however, funding to the schools dropped 9 percent to a 25-year-low of $5,896.

Think Progress:

The upward trend is likely to continue in 2013, since state governments plan to spend 10.8 percent less on higher education this year than they did in the year prior to the Great Recession. Only 12 states now spend more on higher education than they did before the recession. The decrease in funding has contributed to the six-fold increase in college tuition over the last 30 years.

Still, Americans are graduating from college at record rates, but they are doing so while accruing more debt. The number of Americans carrying student loan debt is at record levels, and that has had consequences throughout the economy, especially since earnings for college graduates are declining.

Read more

— Posted by Tracy Bloom.

 Wait, before you go…

If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface.  We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.

Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.

Support Truthdig
In this Article:
#college#debt#government#higher education#student#student debt#student loans#university