The College-Affordability Conundrum

A recent survey of people’s attitudes on student-loan forgiveness revealed overwhelming support for something that’s often seen as an even deeper issue: making college more affordable.

Eighty-two percent of the roughly 1,000 survey respondents said the government should make bringing down the cost of college a priority. Student-loan borrowers felt the same: Nearly 60 percent of that group said the government should focus on making college more affordable for future students.

President Biden’s push for a federal free-college program was ultimately stymied in Congress. Meanwhile some states have forged ahead with “College Promise” programs seeking to bring down the cost of tuition.

Private nonprofit colleges are often the poster children for rising college costs, and they have worked especially hard to persuade families that the sticker price isn’t necessarily what they will actually pay. Such colleges offer tuition discounts to entice students to enroll. In the 2020-21 academic year, the average tuition-discount rate for first-time undergraduates was 54.5 percent, a record high according to data from the National Association of College and University Business Officers.

Yet, college costs still hit low-income families the hardest. The National College Attainment Network’s latest analysis of college affordability showed that in 2018-19, in-state students at four-year public colleges who received average-size Pell Grants had unmet financial need that averaged roughly $2,500.

For more about how college remains costly for many, even as an increasing number of states are offering free-college programs, see below: