When I was growing up, I never imagined that I could afford a college education. I knew for sure that if I had any chance of going to college at all, I would need to live at home, work more than one job, and still probably come up a bit short. For many of my contemporaries, the college price tag proved to be too much. For many students today, especially those from families with modest incomes, the cost of higher education is prohibitive.
College tuition continues to rise faster than the rate of inflation.
Since 1980, tuition at public and private four-year colleges has increased more than 110 percent over inflation. During this same time period, the median family income rose only 22 percent. Student aid unlocks the gates to many colleges and universities, but it still does not provide enough. For low income families, financial aid programs in recent years provided only 54 percent of the total cost of four-year public institutions. We have come a long way, but we need to do more.