NextGen

Many High-Endowment Colleges Going Forward with Tuition Increases

Despite some students returning to college campuses devoid of many of the amenities young people take for granted, and others able to attend college only remotely, many institutions of higher learning with large endowments are planning to increase tuition this year, at a time when families are having more trouble than everĀ  finding money, according to MarketWatch. It reported that 39 of the top 100 schools in the country (in terms of endowments) plan to go forward with a planned tuition increase, compared to just five that are planning to discount their tuition this year. MarketWatch noted that colleges are unlikely to initiate widespread tuition discounts in the wake of the pandemic because they have lost a great deal of revenue in areas that their business models count on, such as dining and housing.

Beyond higher tuition bills, the New York Times reported that many returning students will face a new cost: coronavirus fees. This is due to the increased expense of testing students, reworking floor plans, and buying more sanitary equipment. Colleges are asking students to share some of these costs through extra charges, though this varies widely from school to school, with some institutions charging only $50 and others charging as high as $475.