In ASPIRE we work with students and families and focus on their concerns regarding college costs and debt. There is another side to college cost and that is the college’s side. Colleges and universities both private and public have seen declining revenues for a number of reasons. The article below provides you the college’s perspective.
The college age cohort is declining and state funding for college is declining. The cost or maintaining and growing a college is increasing. Some of us may recall that our college did not have a posh wellness center, computers, tutoring labs, etc. It will be interesting to see how colleges cope with declining revenues. At state universities we already see an increased use of Teaching Assistants and Adjunct Faculty.
Will and I just had a great conversation about Oregon’s College Savings Plan. In 2013 the maximum for claiming an Oregon Tax exemption for Oregon’s College Savings is $4,455. Do you know how this is claimed on Oregon’s Form 40? The tax savings is about $400 which is a nice “tax scholarship”. A family can take advantage of this even during the college years.
George A. Letchworth, Ph.D.