Financial Crisis Growing For Pennsylvania College Students
College Presidents Worry About Mounting Student Debts
Posted: 4:30 pm EDT April 28, 2009Updated: 3:10 pm EDT April 30, 2009
WASHINGTON --
In the depths of a crippling recession, local college students fear Pennsylvania's most affordable schools are becoming unaffordable.Penn State University President Graham Spanier said an increasing number of students are paying their tuition bills by taking out student loans. Spanier said, "It can be burdensome for (Penn State students) and their families."
VIDEO: Penn St. Univ. President - Reveals Details of Tuition Increase
VIDEO: Scott MacFarlane Reports - Growing Financial Crisis For Pennsylvania College Students Growing student debt, combined with a variety of other troubling economic news, is causing concerns a "perfect storm" is forming for those attending colleges. Market fluctuations have drained college savings accounts. Rising unemployment has created new competition for on-campus jobs, which were once easy pickings for students. And government budget crises have forced some schools to boost tuition costs, even amid a grueling recession.Penn St. University and several other local schools have announced tuition increases for the 2009-2010 school year:
Proposed Main Campus 2009-2010 Tuition: $13,599
Main Campus 2008-2009 Tuition: $13,014
Main Campus 2007-2008 Tuition: $12,284
Proposed PSU-Altoona 2009-2010 Tuition: $11,950
PSU-Altoona 2008-2009 Tuition: $11,490
PSU-Altoona 2007-2008 Tuition: $10,912 Some local community colleges are also boosting tuition costs. Pennsylvania-Highlands Community College will charge approximately $85.00 per credit next year, a slight increase from 2008, according to the Pennsylvania Commission for Community Colleges in Harrisburg.The Community College of Allegheny County's budget includes no increase in tuition, which remains at $85.25 per credit.David Hoovler, director of public relations at CCAC, said, "We believe it is important to continue to provide the most affordable education possible to our residents in the midst of the economic downturn, and holding the line on our already low tuition is an important step in that direction."The issue of affordability comes at an inopportune time for college juniors and seniors. A shrinking job market has made it increasingly difficult for graduates to find jobs and pay down their debt. Carmen Berkeley, a University of Pittsburgh graduate who helps run a Washington-based lobbying group on behalf of college students, said, "My kids won't be able to go to school, if I'm still paying off an $80,000 loan debt I (incurred) when I was 18 years old."
VIDEO: Univ. of Pittsburgh College Grad Describes Financial Turmoil For Students Spanier said there has been a sharp drop in the number of employers visiting campus to scout out future employees.
VIDEO: Penn St. Univ. President - Urgent Advice for Graduating Seniors
In the depths of a crippling recession, local college students fear Pennsylvania's most affordable schools are becoming unaffordable.Penn State University President Graham Spanier said an increasing number of students are paying their tuition bills by taking out student loans. Spanier said, "It can be burdensome for (Penn State students) and their families."
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