Tuesday, June 16, 2020

10 States With the Fastest Rising College Tuition

Since the Great Recession, state appropriations to higher education have been at historic lows. In fact, on average, states spend 20% less per student than they did in 2008. As a result, tuition prices have been rising and the cost burden has shifted from society to the students and their families.ï ¿ ½Based on the latest data from the College Board, below are the 10 states that experienced the greatest tuition increases over the last five years. If you live in one of the following 10 states and plan on sending your child to an in-state school, you might want to up your 529 plan contributions. ENROLL TODAY table{font-family:arial,sans-serif;border-collapse:collapse;width:100%}td{border:1px solid #ddd;text-align:left;padding:8px}th{border:1px solid #ddd;text-align:center;padding:8px}tr:nth-child(odd) {background-color:#ddd}h4{text-align:center} Greatest tuition and fee increases at 4-year public universities 2011-12 to 2016-17 State 5-year change in average annual tuition cost % increase Available direct-sold 529 savings plans Louisiana $3,312 59% START Saving Program Plan Details West Virginia $1,592 27% SMART529 Select Plan Details SMART529 WV Direct College Savings Plan Plan Details Tennessee $1,881 25% TNStars College Savings 529 Program Plan Details Oklahoma $1,559 24% Oklahoma College Savings Plan Plan Details Alaska $1,320 23% T. Rowe Price College Savings Plan University of Alaska College Savings Plan Mississippi $1,366 23% Mississippi Affordable College Savings (MACS) Program Plan Details Colorado $1,872 22% Direct Portfolio College Savings Plan Enroll Now Virginia $2,166 21% Invest529 Enroll Now Kansas $1,546 21% Learning Quest 529 Education Savings Program Plan Details Schwab 529 College Savings Plan Plan Details Hawaii $1,758 20% Hawaiiï ¿ ½s College Savings Program Enroll Now Don't see your state listed? See the complete list of five-year tuition increases by state on page 2. RELATED: How much is your stateï ¿ ½s 529 plan tax break really worth? With the exception of Washington, Maine and California, all states experienced increases in public university tuition over the last five years. Keep your family prepared for the future by enrolling in a 529 plan today. While your home stateï ¿ ½s 529 plan may offer tax incentives for residents, you can invest in almost any stateï ¿ ½s plan ï ¿ ½ no matter where you live! States with public university tuition increases 2011-12 to 2016-17 Source: College Board Trends in College Pricing 2016 Since the Great Recession, state appropriations to higher education have been at historic lows. In fact, on average, states spend 20% less per student than they did in 2008. As a result, tuition prices have been rising and the cost burden has shifted from society to the students and their families.ï ¿ ½Based on the latest data from the College Board, below are the 10 states that experienced the greatest tuition increases over the last five years. If you live in one of the following 10 states and plan on sending your child to an in-state school, you might want to up your 529 plan contributions. ENROLL TODAY table{font-family:arial,sans-serif;border-collapse:collapse;width:100%}td{border:1px solid #ddd;text-align:left;padding:8px}th{border:1px solid #ddd;text-align:center;padding:8px}tr:nth-child(odd) {background-color:#ddd}h4{text-align:center} Greatest tuition and fee increases at 4-year public universities 2011-12 to 2016-17 State 5-year change in average annual tuition cost % increase Available direct-sold 529 savings plans Louisiana $3,312 59% START Saving Program Plan Details West Virginia $1,592 27% SMART529 Select Plan Details SMART529 WV Direct College Savings Plan Plan Details Tennessee $1,881 25% TNStars College Savings 529 Program Plan Details Oklahoma $1,559 24% Oklahoma College Savings Plan Plan Details Alaska $1,320 23% T. Rowe Price College Savings Plan University of Alaska College Savings Plan Mississippi $1,366 23% Mississippi Affordable College Savings (MACS) Program Plan Details Colorado $1,872 22% Direct Portfolio College Savings Plan Enroll Now Virginia $2,166 21% Invest529 Enroll Now Kansas $1,546 21% Learning Quest 529 Education Savings Program Plan Details Schwab 529 College Savings Plan Plan Details Hawaii $1,758 20% Hawaiiï ¿ ½s College Savings Program Enroll Now Don't see your state listed? See the complete list of five-year tuition increases by state on page 2. RELATED: How much is your stateï ¿ ½s 529 plan tax break really worth? With the exception of Washington, Maine and California, all states experienced increases in public university tuition over the last five years. Keep your family prepared for the future by enrolling in a 529 plan today. While your home stateï ¿ ½s 529 plan may offer tax incentives for residents, you can invest in almost any stateï ¿ ½s plan ï ¿ ½ no matter where you live! States with public university tuition increases 2011-12 to 2016-17 Source: College Board Trends in College Pricing 2016