College Cost Increase Not Helping National Student Loan Debt Issue
Augustana College announced Tuesday that their comprehensive fee would increase for the 2013-14 school year. The comprehensive cost will be $44,937, an increase of $513 in each of the three terms, from $43,398 in the 2012-2013 academic year. This is an increase of 3.5 percent.
Executive Vice President, Kent Barnds says the increased cost will go to various things like human resources through salary and benefits as well as into academic programming and energy cost.
Many colleges are increasing their cost which isn’t helping the increasing problem of student loan debt. Nationally, student loan debt has topped $870 billion. On average, a student will leave with $27,000 in debt each.
Augie Student, Cameron Omunah says it is a daunting thought.
“It’s a student loan crisis that our country is facing and it is absolutely terrifying.”
Omunah says he was prepared for the amount of debt he and many others have collected but he says his education from Augustana is worth it.
“I would do it again, take on the debt for this awesome experience. But it is kind of a sobering thought to know that I am going to be facing quite a bit of debt when I leave Augustana.”
Augustana students, on average, leave college with around $23,000 in debt which is lower than the national average.