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The 10 states with the fastest rising college tuition
http://www.savingforcollege.com/articles/the-10-states-with-the-fastest-rising-college-tuition-782
Posted: 2015-05-20
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. The Center on Budget and Policy Priorities recently released a study showing which states have experienced the sharpest increase in tuition over the last seven 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.
10. Nevada - State Animal: Desert bighorn sheep
2008-2015
- Change in state spending per student: -30.8%
- Change in average tuition: $1,908, a 42.3% increase
In-state 529 plan options:
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. The Center on Budget and Policy Priorities recently released a study showing which states have experienced the sharpest increase in tuition over the last seven 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.
10. Nevada - State Animal: Desert bighorn sheep
2008-2015
- Change in state spending per student: -30.8%
- Change in average tuition: $1,908, a 42.3% increase
In-state 529 plan options:
- USAA 529 College Savings Plan
- Nevada Prepaid Tuition Program
- SSgA Upromise 529 Plan
- The Vanguard 529 Savings Plan
- Putnam 529 for America (advisor-sold)
9. Colorado - State Animal: Rocky mountain bighorn sheep
2008-2015
- Change in state spending per student: -17.7%
- Change in average tuition: $3,280, a 52.8% increase
In-state 529 plan options:
- Direct Portfolio College Savings Plan
- Smart Choice College Savings Plan
- Stable Value Plus College Savings Program
- Scholar’s Choice College Savings Program (advisor-sold)
8. Alabama - State Animal: Black bear
2008-2015
- Change in state spending per student: -36.6%
- Change in average tuition: $3,481, a 58.1% increase
In-state 529 plan options:
7. Washington - State Endemic Animal : Olympic Marmot
2008-2015
- Change in state spending per student: -28.4%
- Change in average tuition: $4,009, a 58.6% increase
In-state 529 plan option:
6. California - State Animal: Grizzly Bear
2008-2015
- Change in state spending per student: -11.1%
- Change in average tuition: $3,518, a 62.2% increase
In-state 529 plan option:
5. Florida - State Animal: Panther
2008-2015
- Change in state spending per student: -25.0%
- Change in average tuition: $2,484, a 64.2% increase
In-state 529 plan options:
4. Louisiana - State Dog: Catahoula Leopard Dog
2008-2015
- Change in state spending per student: -42.0%
- Change in average tuition: $2,939, a 67.2% increase
In-state 529 plan option:
3. Georgia - State Amphibian: Green Tree Frog
2008-2015
- Change in state spending per student: -22.4%
- Change in average tuition: $3,319, a 69.5% increase
In-state 529 plan option:
2. Hawaii - State Mammal: Hawaiian Monk Seal
2008-2015
- Change in state spending per student: -20.2%
- Change in average tuition: $4,010, a 70.0% increase
In-state 529 plan option:
1. Arizona - State Animal: Ring-tailed Cat
2008-2015
- Change in state spending per student: -47.0%
- Change in average tuition: $4,734, an 83.6% increase
In-state 529 plan options:
- Arizona Family College Savings Program
- Fidelity Arizona College Savings Plan
- Ivy Funds InvestEd Plan
Didn't see your state? Here's the complete list from the Center on Budget and Policy Priorities:
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