Lady who has more from our New York City newsroom,
Libya. Hi there, Brett. That's right,
tuition and fees at four year public schools have increased
more than 152%
between 2001 and 2021, according to data from Education Data
Initiative.
As tuition and fees increase,
spending also increases. Trustees at universities are approving millions of
dollars worth of campus projects,
and analysis from the Wall Street Journal found that the
median spending at flagship state schools.
Rose 38% between 2002 and 2022,
even though enrollment increased by only 21%.
Schools often blame state budget cuts,
but the Journal found that for every $1.00 lost,
schools increased tuition and fees by nearly $2.40.
What are they spending money on?
Well, many times the big projects are unrelated to academics.
Rec Centers, game rooms, sports venues,
hiring administrators. Listen. A lot of it.
Going into frivolous things like climbing walls and elaborate gymnasiums
and student union buildings make the cost of education as
inexpensive and with as high quality as it can possibly
be.
Also ballooning federal student loan balances,
reaching $1.6 trillion in total.
Now the pricey projects by universities are in focus as
the Biden administration looks to forgive billions of dollars in
student debt.
Right back to you, Lydia.
Thanks, Dana.