Tuition at public and private universities across the nation has been increasing steadily over recent years as marked by the November 16th approval by the California State University Trustees of a 9% tuition increase for the 2012-2013 academic year – the ninth increase in nine years. The increase set off raucous student protests, however, the university system had little choice due to continuing cuts in state funding.
Private university students have also been hit by ongoing tuition hikes. At four-year private universities, total costs (including room and board) rose 4.3% to an average of $36,993 according to College Board's Trends in College Pricing 2010 report. This is double the 2.1% annual inflation rate reported in February of 2011.
It is believed by many in higher education today that we are headed for the collapse of the student loan system as we know it. Many experts believe that the student loan bubble could be even more significant than the Subprime mortgage crisis that the country is still recovering from. The obvious solution is affordable education that students can pay for as they pursue their studies without going into debt.
California's for-profit Anaheim University is endeavoring to be part of this solution. According to Anaheim University Chief Communications Officer David Bracey, "The Anaheim University Board of Trustees has initiated an across the board tuition increase freeze and the University's Administration is working with the Board of Trustees to implement a Tuition Relief Program that would reduce tuition by as much as 50% over the next 5 years. This is part of Anaheim's mission to make accreditation education accessible to students around the world."
At a 2010 Technonomy conference Bill Gates suggested that technology could reduce the cost of a post-secondary school education down to $2,000. Bracey stated, "Through real-time webcam technology, the highly qualified faculty of Anaheim University can give more attention to students in small classes at a lower cost than a bricks and mortar institution that carries with it the burden of operating a large and costly campus with extremely high overhead. We fully agree with Bill Gates and his insight has motivated us to move in that direction," said Bracey.
