Universities and the Recession

The Economist:

THE class of 2009 will be almost the largest in America's history. More than 3m students are getting their high-school diplomas in late spring. Those who plan to go on to university have been told for years to expect a rough time: with so many students applying, winning admission to their college of choice will be a challenge. But those who clear that hurdle will find that their problems are just beginning.

College life is an enviable set-up given the job market at the moment. It comes at a price, though: an average of roughly $25,000 per year at a private university, and $6,600 at a state one. That was this year, and next year it will in most cases cost a bit more. That is ominous for students and the people who fund them. Parents have lost jobs, and seen their savings wither. "I think more parents are being emboldened to ask for more money, or to ask for financial aid, period," says James Boyle, the president of College Parents of America.

Posted by Jim Zellmer at May 1, 2009 5:11 AM
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