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Scholarships — The Cure for Sticker Shock

by Elizabeth Hartley,
author of Scholarship Gold

Have you looked at college tuition lately? The price tag is growing every year, faster than most working parents can keep up. College costs have risen faster than inflation for over 25 years. According to the College Board, a non-profit association of over 4,500 universities and colleges, public and private schools report average increases of 6-10% every year. For over a decade, tuition hikes have outpaced increases in wages and health insurance costs. Unfortunately, this trend shows no sign of ending anytime soon. Once you factor in expenses for room and board, the total cost at a private college in 2007 exceeded $30,000 annually and almost $13,000 annually at a public school. With that kind of price tag, many parents and students are questioning the costs vs. benefits of a college degree.