But if someone claims you can change your life by investing in four years toward a degree at a public college or university, you might consider what they have to say. With most colleges and universities ready to send out next fall's tuition bills, students and parents have college costs on their minds. And many parents of today's children and adolescents are wondering if they will be able to afford higher education a few years down the road. While it is true that higher education can be expensive, surveys show that most Americans overestimate the true costs of a college education, and the returns from the investment in college are growing larger each year. But that is indeed the increased earnings today's college and university graduates enjoy over the earnings of a high school graduate.
Education is an investment that pays.
The fact of the matter is that only 36 of the more than 3,000 colleges and universities nationally charge tuition that high. From that perspective, such an investment in one's future should look like a pretty good deal. The difference between tuition charged and actual costs is made up from several sources, the largest part of that difference from an investment the Commonwealth of Pennsylvania makes in institutions such as Penn State in the form of an annual appropriation. Other funds are provided by alumni, donors, and from self-supporting operations. To be sure, there are other costs involved in attending college beyond tuition, such as room and board.