Local college tuition costs soar

A new report shows that tuition at SUNY and CUNY schools has increased 30 percent over the last four years while financial aid and household income have remained steady.
Most middle-class families can pay for a college education because of federal grants and government loans, which must be repaid but at lower interest rates than private lenders. For low-income families, however, the main source of college funding is the need-based Pell Grants which are given to mostly students with a household income less than $35,000 a year.
&#8220As a former New York City school teacher, I give President Bush an F for failing to address the financial needs of New York's college students,” said Congressmember Gary Ackerman. &#8220College must be made affordable to all Americans. President Bush has made it more difficult.”
While tuition rates soar, the Pell Grants award has increased by only four percent and interest rates are on the rise. According to the report, the average cost of tuition at SUNY and CUNY schools has increased from $3,766 to $4,895 while the Pell Grant only marginally increased from $2,595 to $2,710. Last year, approximately 203,000 New York students relied on these grants. Meanwhile, the average household income has remained virtually the same - $43,601 in 2001 to $43,434 in 2005.
&#8220We simply cannot understate the importance of a college education, which opens doors and creates opportunity,” said Congressmember Anthony Weiner. &#8220Particularly in New York City where poverty is almost twice the national average, the federal government has a responsibility to help our young men and women help themselves by making a college education affordable for everyone.”
One proposal to help combat the cost of education was to raise the maximum Pell Grant by over $1,000, from $4,050 to $5,100, which will help cover the entire cost of tuition.
Another proposal was to cut the interest rates in half. The New York student graduates with an average of $17,594 in debt. This proposal will help students save approximately $5,662 in interest payments.
“This report is a stark reminder that, while so many young men and women aspire to go to college, not everyone can afford it,” said Congressmember Edolphus Towns. &#8220We need to expand financial aid programs such as Pell Grants and student loan programs because a college education should be a basic right, not a luxury.”