YALE OLD CAMPUS.
The full annual cost of attending elite private U.S. colleges is approaching $90,000.
The value proposition of college attendance is becoming less clear as higher education costs continue to rise, reports Bloomberg, citing economist Beth Akers.
The full cost of attending Yale University sits above $80,000 for the upcoming academic year while the cost of attending Brown has reached nearly $85,000.
- At some point, rising costs will mean degrees are "just no longer worth it," according to Akers.
- Despite the sharp jump in costs, financial aid has lowered college costs for students with household incomes below $125,000, according to economist Phillip Levine.
Zoom Out:
- Only 56% of U.S. adults below the age of 30 said the benefits of their college education outweighed the costs, according to a Federal Reserve study published in May last year.
- A recent Gallup poll found that 46% of U.S. parents would prefer their children not to pursue a bachelor's degree.
- The cost of running colleges in the U.S. jumped by 5.2% in the 2022 fiscal year, according to Commonfund, an asset manager that tracks the higher education sector.
