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Inflation's Influence on Tution Hikes

Most students feel nervous because of the current economical situation, recession and the inflation. Many of them are worried if they could manage to take up higher education and if they could even take up the education of their choice. For those who are wondering what effects the recession has on the future of higher education, below is an analysis of inflation, recession, and tuition hikes. This way you will know what to expect from this economical crisis. The effects of inflation are drastic and especially, "inflation's influence on tuition hikes". Tuition rates increase at about twice the rate of inflation. This would not only hamper the economy but also the future of the nation.

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Inflation represents the normal price that everyone pays for innovation, technology and the ups and downs of the economy of a state or country. Inflation can affect every aspect of our lives, from education, to services, products and so on. Tuition hikes at public or private universities exist on their own, but they are still influenced by inflation. The College Board stated that in the last 10 years, tuition fees at the public colleges increased approximately 50 % and reached to an average of $6,585 per year.

Many colleges and universities announced plans in order to make education more affordable and in an effort to remain competitive in this bad economical situation. Some universities announced tuition freezes, while other announced that they will continue to raise tuition. The thing that you have to know is that how much the hike has been since the last four years.

Many students are stressed because of these numbers, but they have to know that college fees in the past years have been rising less than the inflation; that is why the tuition was possible. In the past year or two, the tuition hikes in private colleges increased with approximately $2000. This might seem much to you, but you should know that compared to the previous years, this is smaller. In the previous years, the tuition hikes reached $5000 or even more.

Many private universities and colleges are starting to take measures in order to freeze the fees that have got out of hand. Their tactics and methods are called tuition freezes, which pauses the tuition prices and colleges try to meter out the financial differences with funds from private entities. As a result, others have to increase their tuition by 4-5 % considering the inflation.

Public universities, which offer students a four-year degree, increased their tuition fees, especially for in-state students. State budgets had to make up for the financial disaster, which was caused by mortgage bailouts and foreclosures. In a bid to bounce back, the states increased tuition fees for the in state students and lower fees for the struggling state residents. This rule is applicable in some colleges and universities as the universities and colleges are obliged to a financial reform and have to increase the tuition fees. The new tuition hikes depend on the university or college you choose to enroll and the state you would be studying.

As per statistics, many schools have raised their tuition fees owing to the recent economic crisis. In-state tuition rose to $11,000, from $9,500, for 2009-10 academic year. New York, California and Nevada also wish to cut higher education spending, which will almost certainly lead to tuition hikes for public institutions in those states.

The recession had an important influence in the education field, especially in the higher education field. The inflation led on one hand, to the increase of the tuition hikes in many universities and colleges, while on the other hand, some colleges announced tuition freezes. Inflation's influence on tuition hike has definitely got a say but it all depends on how much you can get with it.

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