{"id":1497209,"date":"2022-05-30T14:44:42","date_gmt":"2022-05-30T18:44:42","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1497209"},"modified":"2022-05-30T14:44:51","modified_gmt":"2022-05-30T18:44:51","slug":"colleges-justify-tuition-hikes-by-pointing-to-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/colleges-justify-tuition-hikes-by-pointing-to-inflation\/","title":{"rendered":"Colleges Justify Tuition Hikes By Pointing To Inflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcolleges-justify-tuition-hikes-by-pointing-to-inflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1497209&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Many universities are increasing tuition for the upcoming school year while pointing to record-high price levels.<\/p>\n<p>Inflation reached 8.3% as of last month, remaining near elevated levels last seen 40 years ago. The high prices coincide with the <a href=\"https:\/\/www.dailywire.com\/news\/united-states-economy-shrinks-in-the-first-part-of-2022\">United States economy shrinking<\/a> at a 1.5% annualized rate in the first quarter of 2022 \u2014 representing the only quarter with negative growth since COVID-19 hit the United States. As a result, some economists are warning of <a href=\"https:\/\/www.dailywire.com\/news\/economy-on-the-cusp-of-stagflation-seen-in-under-jimmy-carter-warns-asset-management-exec\">stagflation<\/a> \u2014 a reference to the sluggish economic growth and high inflation that characterized the late 1970s under President Jimmy Carter.<\/p>\n<p>As young Americans work and save this summer in preparation for the fall semester, their universities are by no means giving them a break from the higher living expenses.<\/p>\n<p>Boston University, for example, is hiking tuition by 4.25% for the 2022-2023 school year \u2014 its largest jump in 14 years.<\/p>\n<p>\u201cBy far, my greatest immediate concern is the impact of inflation on faculty and staff, our students, and the University,\u201d Boston University President Robert Brown wrote in a <a href=\"https:\/\/www.bu.edu\/articles\/2022\/bu-largest-tuition-hike-in-14-years\/\">letter<\/a>. \u201cThis increase does not keep pace with the current national rate of inflation and cannot fully offset the increased costs of University operations or fund salary increases that would fully mitigate the effects of inflation on the families of faculty and staff.\u201d<\/p>\n<p>\u201cI also am mindful that our students and their families are affected by our increases and by inflation,\u201d he added. \u201cWe are caught in an inflationary vise between the institutional pressures and the impact on our students and their families.\u201d<\/p>\n<p>The University of Pennsylvania is increasing tuition by 2.9% \u2014 its highest <a href=\"https:\/\/www.thedp.com\/article\/2022\/03\/penn-trustees-tuition-increase-financial-aid-22-23#:~:text=to%20your%20inbox.-,Penn%20approves%202.9%25%20tuition%20hike%20for%202022%2D2023%2C%20largest,aid%20increase%20in%20a%20decade&#038;text=Penn%27s%20Board%20of%20Trustees%20approved,budget%20in%20the%20last%20decade\">increase<\/a> in the last decade. \u201cIt was important to us that we continue to keep cost increases low while simultaneously bolstering our grant-based undergraduate financial aid program,\u201d University of Pennsylvania Senior Executive Vice President Craig Carnaroli <a href=\"https:\/\/penntoday.upenn.edu\/news\/penn-trustees-approve-2022-2023-undergraduate-charges-and-financial-aid-budget\">explained<\/a> in March. \u201cThis year, our aid budget is growing at a rate triple that of charges, ensuring that we are able to fulfill our commitment to meet a student\u2019s demonstrated need each year, even as costs increase.\u201d<\/p>\n<p>Likewise, the University of Virginia announced plans to increase tuition by 4.7% next year and 3.7% in the following year. \u201cThese new tuition rates will help the University balance its annual budget in an inflationary environment, while maintaining our commitment to accessibility and to value,\u201d University of Virginia President Jim Ryan <a href=\"https:\/\/news.virginia.edu\/content\/uva-board-approves-tuition-next-two-academic-years\">said<\/a>. \u201cWe will continue to be one of the few public universities in the country to meet 100% of students\u2019 demonstrated financial need while offering all of our students a world-class education and experience during their time here at UVA.\u201d<\/p>\n<p>Weeks before the 2022 spring semester began, Virginia Tech\u2019s Board of Visitors imposed a $100 to $215 surcharge for meal plans to account for workforce shortage issues. According to the <a href=\"https:\/\/vtx.vt.edu\/articles\/2021\/11\/students-bov-meal-plan.html\">university<\/a>, the price increase was driven by a need to attract and retain more dining workers at pay competitive with market rates.<\/p>\n<p>High inflation is corresponding with a <a href=\"https:\/\/www.dailywire.com\/news\/consumers-disliked-2021s-economy-more-than-2020s\">drop in consumer confidence<\/a>. The Federal Reserve\u2019s most recent Survey of Household Economics and Decisionmaking showed that 24% of respondents thought national economic conditions were good or excellent. The figure marks a significant decrease from 50% in 2019 \u2014 as well as a slight decrease from 26% in 2020, the year in which COVID-19 and lockdowns induced a global recession.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many universities are increasing tuition for the upcoming school year while pointing to record-high price levels. Inflation reached 8.3% as of last month, remaining near elevated levels last seen 40 years ago. The high prices coincide with the United States economy shrinking at a 1.5% annualized rate in the first quarter of 2022 \u2014 representing &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1497219,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1497209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1497209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1497209"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1497209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1497219"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1497209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1497209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1497209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}