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Utah college students and their parents need to come to grips with an unfortunate fact of life: tuition, of necessity, is going up.
The Utah Board of Regents recently approved a 4.5% system-wide tuition hike. Before long, they’re also expected to authorize the various schools to tack on their own increases. Overall, next year’s tuition for Utah college students on average will likely be almost ten percent higher than this year. And that’s on top of this year’s 9.5% average increase statewide.
The Regents have little choice. With state revenues declining and the institutions struggling to accommodate growth, tuition increases are unavoidable, if programs are to be maintained.
If it’s any consolation - and it should be - higher education in Utah is still a relative bargain. Tuition for Beehive State schools is significantly below the national average. The gap, though, is gradually closing.
So, what does this mean for prospective students and their parents? In a word, prepare! Begin while children are young to save for their college education. Take advantage of special savings plans with their tax incentives. Don’t put it off.
And above all, don’t become discouraged. Surveys reveal college graduates can expect to make on average $1 million more during their working years than those who earn only a high school diploma.
So, despite the frustration of regular tuition hikes, a college education is worth the cost.
