The Future of College Tuition
Editor in Chief
With the recent announcement that Converse College in Spartanburg, S.C. reset its tuition to $16,000, many students turn their eyes to their own colleges hoping to regain a sense of control on the rampantly growing debt they are earning along with their degree.
What makes the step so radical is that Converse is one of the first in the nation to drop tuition. Their drop was about 43 percent. As the Board of Trustees, President, and Student Body President of Converse said, they are “doing something bold.”
Recently, student debt hit One trillion dollars, and it is rising exponentially at this point. “Its great that Converse lowered their tuition, and I think a lot of colleges should do the same. I’m really hoping that this epidemic will change the future of higher education. We shouldn’t be going into debt just to better ourselves,” said Hunter Ginn, Informatics Major at USC Upstate.
Although this “tuition reset” is a huge topic, it is an answer to President Obama’s cry for help. The President has desired to change the future of American education, and his first approach is regain control of the skyrocketing debt students are faced with. Although public schools like USC Upstate receive state funding, many colleges do not.
As with all bold new ideas, it takes some time to develop strong plans to absorb such a cut. However, some tips can help students dodge their every increasing bill.
1. Borrow Federally: They are more abundant, less expensive, and come with a better payment plan than private loans.
2. Prepare your budget as if you did not have loans to help with tuition. You should do this now, so you can become more financially stable when you graduate.
3. Consult scholarship websites such as: Fastweb and Courage to Grow. They offer grants and scholarships for students. There are thousands out there.
4. Stop by Financial Aid to discuss other possible grants and scholarship’s
5. A payment plan will allow you to make payments on either the cost of school or your loan. Check out the payment plan option we provide!
6. Do not borrow more than your expected yearly income. This makes it easier to manage your bills when payment is due.
7. Try to borrow just enough to pay for the cost of attending USC Upstate and to pay for your books.
These steps can help fight high debt incurred throughout students’ college careers, and with USC Upstate being ranked #29 according to Regional Colleges (South) by U.S. News Education, students here are bound to get their money’s worth.