Tigerway: How to Prepare for the Increase in College Tuition
The cost of college is substantial. Let's understand how college tuition rises each year and how 1:1 College Strategy can help you.
Note to Prospective Families: We are experiencing very high demand for our 1:1 Coaching Program with our Staff Coaching Team for the SATs and Academic Subjects (High School Math or English). For this reason, if your son or daughter wants individualized attention, please book a call with us today or our availability may be fully utilized soon (There is now a waitlist for Private Coaches)
This email is written by Jasmine Ngo. I will write to you a deep analysis of the increase in college tuition and how college strategy can benefit you. For more frequent updates, subscribe to the email list above
Dear Tigerway Team Members, Parents, and Prospective Families,
There has always been an upward trend in college tuition for years. College tuition prices annually increase by about 8%. With the market’s current status, college tuition has been rising drastically to match the current economy. A recent report from the Georgetown University Center on Education and the Workforce reported that since the 1980s, college tuition increased by 169%.
Like everything else, college tuition follows the market and world situations to keep up with giving enough back to the students and their faculty. During the Pandemic, some colleges decided to freeze their tuition because many people were getting laid off. Now with the recession, colleges are getting back on their feet with money and the new environment.
Let’s take a look at how tuition prices have changed since the 2000s and how the economy has affected it:
Every year college tuition rises little by little—creating a constant upward trend for the past 20 years.
Tuition generally increases on its own regardless of the economy. However, tuition is then adjusted even higher to match with the market.
From 2010 to 2020, the average annual tuition inflation rate was 3.11%. Tuition increased by 31.4% from 2010 to 2020 while inflation declined by 95.6%.
By 2020, the lines become close to constant because of colleges adjusting to the Pandemic environment.
Tuition is at a never-ending increasing rate and there’s no way to go against the trend factors.
Why is this Happening?
The world’s status can significantly play a role in the market. For example, the Pandemic caused college tuition to freeze or lower for a year—disrupting the positive trend.
Now that the world has gotten comfortable with Pandemic regulations, companies and schools are trying to catch up with the market.
Here are other factors that have contributed to the annual tuition increase:
The Pandemic has raised attention to provide more services for students in need. Colleges now have bigger programs to help students with mental health and students who need guidance after the Pandemic.
Market values make academic advisors more expensive for college. Academic Advisors are currently more in need for students to graduate on time (especially since the Pandemic).
It costs more to hire well-rounded faculty compared to the past.
Colleges are investing their education in technology to improve their campus experience for students as well.
Many factors play into college tuition rates and most of them are based on Post-Pandemic circumstances. However, what you can control is how you can adapt to this changing environment quickly. This raises the obstacle of financial stress for students.
Students should be focusing on their education at college. However, finances can distract a student from their coursework. Financial aid may help SOME students, but how will MOST students be able to maximize all their opportunities with these factors in hand?
How can we make College MORE Worthwhile?
The answer is College Strategy.
College Strategy can give effective guidance for students to prepare beyond the fundamentals of thinking about college.
As stated in the last email, students can gain real-world skills about their learning styles and study habits by going into 1:1 coaching. Working with a college strategist 1:1 can ensure you are gaining long-term valuable skills in academics and plan a more cost-efficient and foolproof pathway towards your future.
Many students and parents miss KEY INFORMATION during high school about how to apply and prepare for college such as the financial aspect. This includes scholarship exposure, FAFSA, understanding what loans are, financial-based programs, and specifically planning out the future.
1:1 College strategy provides a pathway for students to be prepared for the future and make good decisions to minimize problems and maximize success. A college strategist works with students to open up affordable decisions while being a top student.
Ask yourself: Is it worth the risk to miss KEY information about your college planning process, let alone your future?
Make your first good decision and get involved with a college strategist to make college worthwhile.
At Tigerway we provide highly-effective college consulting and SAT Coaching sessions. We value all the factors that make a perfect and effective college application for Team Members to get into their dream colleges. If you are interested in joining us for college consulting or SAT Coaching, schedule a brainstorming session with the Tigerway Staff Team to see if it is the right fit for you.
Tigerway is a proud Founding Member of the National Test Prep Association.
Find us on Social:
Our new Twitter Account: https://twitter.com/TigerwayPrep
Our Instagram: https://www.instagram.com/tigerwayprep/
Text us directly on our website:
https://www.tigerwayprep.com/