Ivy League tuition nears $90,000 annually as college costs soar
The tuition fees for Ivy League universities are almost approaching $90,000, painting a vivid picture of the rapidly-growing costs of higher education at the most prestigious schools across the nation.
The incessant tuition fee rise is pushing the costs to attend these elite universities well over $300,000 for a four-year education, and these schools continue to hike tuition costs as the inflation rate surges.
A 4% increase was recorded in tuition fees at Yale University, while Brown University and Dartmouth increased their fees by 5%. Due to these increments, Brown’s combined total of tuition and room and board went up to $84,828, and the total at Yale is $83,880 for students who plan to attend them.
Experts are concerned that the affordability of quality education might soon become an issue because of the increased tuition costs. “At some point, that math stops working out,” American Enterprise Institute’s higher education economist, Beth Akers, pointed out. “We get to a place where these degrees are just no longer worth it,” she added.
Other prestigious schools like Cornell University, the University of Pennsylvania, and Dartmouth have similar total costs today. All of them now charge around $84,000 to attend. Harvard and Princeton have a lower tuition fee than their contemporaries, with Harvard charging $76,763, while Princeton is charging $76,040.
The cost of attending private institutions has ballooned over the years. In 2000-2001, the average total cost of attending a private university (tuition plus room and board) was $22,401. In the 2021-2022 school year, this figure has surged, with private institutions nationwide charging an average of $51,690.
This exponential rise in the cost of higher education has also led to an increase in student loan debt, with graduates, on average, graduating with student loan debts of $31,100 by 2021.
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