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Group: College = $180,000
What will it cost when a child born today goes to college? $180,000 for a four-year, public university, according to the College Board. Even two decades from now, that will still be a lot of money, says Andrew Davis, executive director of the Illinois Student Assistance Commission.

"College tuition has been going up significantly faster than the core consumer price index...so it is on a relative and an absolute basis getting more expensive all the time," Davis said.

Nationally, college costs have increased by an annual average of 4.9 percent over the last 20 years; in Illinois, the increase has been almost 8 percent per year. Davis says if costs keep rising, college will be an option for fewer people. For example, today, a student from a family whose income is in the top 20 percent is five times more likely to graduate from college than a student whose family income is in the bottom 20 percent. Davis says unless financial aid can keep up, that disparity will become greater.

(Illinois Radio Network)
04 05 10 by Newsroom
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