What College Tuition Will Look Like in 18 Years (in the United States of America)
By Stephanie Landsman | CNBC
It's not just the nation heading for a fiscal cliff.
Soaring education costs could end up rupturing your nest egg-and bring your child to the brink of bankruptcy before he even gets his first job. Even the top one percent may get a panic attack from the latest projected tuition rates. Campus Consultants Founder and President Kal Chany figured out what college will likely cost by 2030 based on inflation rates. He wrote the book "Paying for College Without Going Broke."
The findings? In 18 years, the average sticker price for a private university could be as much as $130,428 a year (See chart.) The situation isn't much better if you go the public route. Sending your child to a state university could set you back at least $41,228 a year.
Folks, going by this news, a four year college program at a private university in the US will cost RM1.6 million, 18 years from now. Nine years from now it may cost RM800,000. A State university education will cost RM507,000. This is a lot of money.
Maybe our local universities especially the IPTS, should start opening their doors for American students. This is globalisation - the world is shrinking. Forget about the Nigerian students and the drug pushers and black money scammers. Lets get the Americans to study here.
There is no free university education in the US. In Scandinavia, they offer almost full financial aid - just like our PTPTN (maybe a little better). However in Scandinavia their Income Taxes are near 57% per annum.