Wednesday, July 23, 2014
The Rising Cost of Higher Ed
(WOLO) COLUMBIA,S.C., --
Between higher tuition and an increase in student loans, the amount of money you'll need in order to send your child to school is going up and isn't showing any signs of slowing.
According to a new study released by the U.S. Department of Education, several South Carolina Colleges are not getting full funding, leaving the state having the 7th most expensive colleges to attended in the country.
The high cost of tuition isn't the only thing causing families some financial stress.
Monday, Congress was unable to come to an agreement on the interest rates of federally subsidized loans causing the amount to jump from more than 3 to more than 6 percent, or more than 2 thousand dollars a year.
Congress can still makes changes and introduce new bill to fix the damage, but until then some students and parents are left wondering what they'll have to sacrifice in order to pay for it all.
"we are taking it one step at a time, semester by semester we are looking at what scholarships i have and what we're going to do. We're going to have to cut back on some stuff if we're going to be able to pay fir it."
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