Texas college costs hit six figures |
The cost of higher education in Texas has surged dramatically, with tuition increasing by 914% since 1983, according to a recent JP Morgan report. This rise has made college increasingly unaffordable for middle and lower-income families. Michelle Zampini, associate vice president for the Institute for College Access and Success, clarified: "We basically put families in a position and students in a position where the only option is to either not go to college at all or to take on loans." Several private universities, including Rice University, Southern Methodist University, and Baylor University, are nearing the $100,000 mark for total annual costs, which include tuition, housing, and living expenses. As financial aid struggles to keep pace with rising costs, experts warn that future generations may face even greater financial burdens, with estimates suggesting that attending a private university could cost families close to $1m by 2044.