The cost of tuition and fees at a Colorado public university has increased nearly 125% since the Great Recession, a rate far outpacing inflation since 2009. At the state's two-year colleges, these prices have almost doubled.
The increases stem from declining federal and state investment in higher education, said University of Denver researcher Cecilia Orphan. And costs will likely continue to rise. Instead of boosting funding for public colleges and universities, Colorado lawmakers have allowed schools to raise tuition, primarily due to budgetary constraints. This fall, four-year universities can increase tuition by 3.5%, and two-year colleges can raise it by 5%.
But Colorado experts say students shouldn't avoid college because of the rising cost. Families rarely pay the full sticker price, they said, because scholarships and federal and state financial aid help offset tuition costs.
Going to college provides long-term benefits, Orphan said, including better health outcomes, greater civic engagement, and the potential to earn higher wages.
"That's why it's important for families to look at their options, because it's up to the college to make a strong offer in order to really be considered by the student and family," said Angelica Lopez-Rodriguez, a Denver Scholarship Foundation college advisor who helps students at Bruce Randolph School.
Some low-income students also qualify for federal Pell Grants to pay for college. These federal grants provide free money to students based on financial need. Although the grants have remained fairly stagnant over the years, a Pell can still provide up to $7,395 annually toward tuition, said Denver Scholarship Foundation Chief Impact Officer Nate Cadena.
Colorado also has the Colorado Opportunity Fund, or COF, which has helped lower tuition costs for more than three decades. Last year, COF provided $116 per credit hour to undergraduate students enrolled at a state institution who completed a COF application. Students without legal documentation can qualify by applying for the state's ASSET program.
For a full-time student at a four-year public university, the state fund saves students about $3,500 per year.
The state also offers a tax credit program that reimburses up to two years of tuition for students from households earning $90,000 or less per year. Colorado also invests in local community programs that help students and families pay for and navigate college.
Families and students interested in understanding how much they might pay at some Colorado colleges can use a school's price calculator, such as the University of Colorado's Cost of Education Estimator and Colorado State University's Net Price Calculator. And experts say parents and families should speak with their school advisers.
Jason Gonzales is a reporter covering higher education and the Colorado legislature. Chalkbeat Colorado partners with Open Campus on higher education coverage. Contact Jason at jgonzales@chalkbeat.org.
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