Magazine article Black Issues in Higher Education

What They Don't Know

Magazine article Black Issues in Higher Education

What They Don't Know

Article excerpt

A study released last month by the American Council on Education (ACE) indicates that although Americans believe investing in education is worth the money, many of them don't believe that college is affordable and don't know where to get reliable information about financial aid - including student loans.

The ACE study. What the Public Thinks and Knows About Paying for College, found that 58 percent of all Americans believe that higher education is vitally important, represents a "good value" for the money and want it for their children despite the high price.

However, the public has little awareness of the actual price of a college education and has no idea why college costs increase.

The average estimated cost of a four-year private institution is actually $13,664; respondents set the price at $17,897. A four-year public institution costs an average of $3,111 for in-state residents: respondents thought that cost was $9,694. And community colleges average $1,501, although respondents thought that cost was $4,026.

The study also found that 71 percent of those surveyed believe that college is too expensive. …

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