The rising cost of tuition, combined with decreased funding from public and other sources, will expand the US student debt crisis and lead to multiple long-term economic effects. Students’ independence in adulthood (e.g., purchasing a home, having children, contributing to the economy) will be impacted. Institutions need to demonstrate their value and/or adjust to economic realities with new business/funding models. https://library.educause.edu/-/media/files/library/2020/3/2020_horizon_report_pdf. pdf?#page=7&la=en&hash=0C5E0415C9202F58BC1E5577A709A5D673AB27D8 Between 2008 and 2019, Pennsylvania cut state spending per student by more than 33%, representing the 6th highest appropriation cut across the United States. https://www.cbpp.org/research/state-budget-and-tax/states-can-choose-better-pathfor-higher-education-funding-in-covid Due to the lack of state spending, Pennsylvania ranks third highest in the country for in-state tuition and fees. KU has budgeted its increase to in-state tuition and fees at 1% per year, through fiscal year 2023, as prescribed in the PASSHE comprehensive planning process. https://research.collegeboard.org/pdf/trends-college-pricing-student-aid-2020.pdf Unfortunately, the outlook for state funding is unchanged. Kutztown state appropriations are being budgeted flat through fiscal year 2023, as instructed through the PASSHE comprehensive planning process. When it comes to paying for college, parents foot the lion’s share of the bill. In PA, the net price of attendance (4-year public) is 34% of the median family income (third highest in the nation). For Black students, this is 54% (second highest in the nations). For Hispanic students, this is 50% (the HIGHEST in the nation). https://www.cbpp.org/blog/rising-costs-making-it-hard-for-students-particularly-of-color-to-afford-college
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