“The average cost of in-state tuition at a public institution is $6,752. The average cost of out-of-state tuition at a public institution is $15,742. The average cost difference is $8,990.”
“Unlike public colleges and universities, private institutions do not receive their funding from their state government. Due to this lack of state funding, private colleges and universities charge one tuition rate for all of their students, regardless of whether they reside in the same state that the institution is in. The cost of private institutions on average is substantially higher than public institutions.”
“Each state sets its own policy for determining who qualifies for in-state tuition.” (In-State v.s. Out-of-State Tuition)
“Americans owe nearly $1.3 trillion in student loan debt, spread out among about 44 million borrowers. In fact, the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year.”
Total Student Debt: $1.2 Trillion. Student debt accrued every second: $3,000. The average student debt for 2014 graduate: $33,000 (Barr)
“The costs for a higher education are among the fastest-rising costs in American culture today. Since 1980, tuition costs at U.S. colleges and universities have risen 757 percent. In comparison, food and electricity costs have risen about 150 percent and gasoline prices have risen more than 400 percent over the same period of time.”
"the number of people over 60 with student loan debt tripled to 2.1 million. That group’s share of the debt has skyrocketed from $8 billion to $43 billion and five percent of them are having loan payments deducted from their Social Security checks.” (Barr)
By all this money being in debts, it is not in circulation throughout our nation. This is negatively impacting our economy.