College Unaffordable Even in Higher Income Brackets

John Finney:

at the University of Pennsylvania and Vanderbilt University, families earning 48,001 to $75,000 a year had to pay a significant portion of their gross income to send a student to a public four-year nondoctoral institution. On average, it cost 16 percent (in Alaska) to 33 percent (in New Jersey) of their income in 2013, the latest year for which complete statistics were available for the report.

The burden was higher at public research universities, according to the report, “2016 College Affordability Diagnosis.” Families would have had to pay, on average, 17 percent (Wyoming) to 31 percent (Alabama) of their income to enroll in such state-run institutions as the University of Wyoming or the University of Alabama.

Private institutions offered no relief. Of the states where at least 20 percent of students attended private nondoctoral colleges and universities, families earning $48,001 to $75,000 were required to pay, on average, 16 percent (Idaho) to 45 percent (Rhode Island) of family income to enroll in these institutions.