The Cost of College in Florida

Date2015-11-02

Overview

The increasing cost of college is something that many young people have had to deal with. Over the past couple of years, the cost of college has increased much faster than the rate of inflation. This has several different consequences for people of all age groups. Parents must try and save more for their children to have enough money to go to college. Many students are having to take out record levels of student loans in order to get through school. Here are some trends for the cost of college in Florida over the past couple of years.

Cost of College Trends

For both public and private colleges, the cost of college has increased greatly over the past five years. The rate of tuition has gone up much more quickly for private colleges than public ones. There are several different reasons for this. There are no restrictions on how much private colleges can raise their tuition levels to. With the student loan program today, students can take out as much as they need to in order to pay for school. When public school tuition is increased, this is noticed by residents in the state because it is public information. A lot of colleges face a lot of scrutiny when they do decide to raise tuition costs.

Student Debt

Students attending college in the state of Florida are taking on record levels of student loan debt just like students all across the country. Anyone who is going to a public school in Florida has several options for funding school. However, often times students in high school are not thinking about paying for college while they are still in high school. This means that they do not take full advantage of all of the funding programs that are offered by state universities. One of the most common ways that states can fund their college is through a lottery program. A lot of scholarships go unclaimed each year that students do not know about. The average debt at graduation in Florida has doubled over the past ten years.

Graduation Rate

The graduation rate in Florida has continued to increase over the past ten years. This is good news for several reasons. Florida is often seen as a retirement destination. With that being said, the average age in the state of Florida is higher than the rest of the country. The state needs a lot of younger workers who are productive and skilled to bring value to the state economy. Over the years, this high graduation rate has helped with this issue. There are many programs in the state of Florida that are designed to encourage children to attend college.

Final Thoughts

The state of Florida has many of the same tuition trends that many other states in the country have. The cost of private school tuition in Florida is increasing faster than the average cost of college. The good news is that graduation rates in the state are much higher than anytime in the past twenty years. Students are graduating with record levels of debt, but there are many state programs designed to help students in this area. The opportunities are there for students who want to succeed through their education levels in Florida.