Big Take
Top Colleges Are Too Costly — Even for Parents Making $300K
Apr 25, 2025
In this engaging conversation with Paulina Cachero, a Bloomberg reporter specializing in the soaring costs of higher education, listeners uncover shocking truths about college expenses. Cachero highlights how even families earning $300,000 face financial strain from elite institutions. The discussion reveals the hidden costs of college education, the inequalities in financial aid, and the myth that public universities are always the best option. Prepare for revelations that challenge conventional wisdom about affording a degree in today's economy.
16:35
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Quick takeaways
- The soaring tuition costs of selective colleges, exceeding $95,000 annually, place an overwhelming financial burden on middle-class families, even those earning $300,000.
- The complexity and opacity of the financial aid process exacerbate affordability issues, leaving families struggling to navigate aid options based on income and regional living costs.
Deep dives
The Rising Costs of Higher Education
The financial burden associated with attending college in the U.S. has reached alarming levels, with some institutions announcing sticker prices exceeding $95,000 to $100,000 annually. Even though colleges assert that most students do not pay the full price due to financial aid, about half still bear the full cost, which can severely impact family finances. Factors contributing to these rising costs include inflation and decreased resources available to public universities, complicating affordability for middle-class families. As a result, many families find themselves confronted with difficult decisions and loan options when evaluating education for their children.
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