WV COLLEGE EDUCATIONS NOT AFFORDABLE?

(11/26/2010)
An audit reviewing the ability of West Virginia students to afford a college education has been given to a WV legislative committee, reminding them that an affordability target was established in 2000.

The report suggested that between 2000 and 2008 higher education became "less affordable for state residents and that an increasing cost burden has been placed on students through rising tuitions and fees."

West Virginia's higher education officials have yet to determine how much a college education should cost or take steps to ensure that obtaining a degree is an affordable option for state residents, says the legislative audit.

"The report said, "Cost management for higher education is not emphasized."

The total cost to attend a four-year college increased by 34 percent between 2004 and 2009, the audit said.

It further said financial aid is not keeping pace and that only one-fifth of low-income students attend college.

A Marshall student could pay $4,360 to go to school in 2007. In 2009, the cost was $5,236.

The lowest increases at a four-year college were at Fairmont State University, where rates went up 7 percent over the past three years.

At West Virginia University, tuition increased 12 percent in three years.

Auditors said in the report the increases can be tied to stagnant state funding for public colleges and universities.

Since 2002, the state's support of higher education grew by 3.22 percent. At the same time, inflation grew at a rate of 27.2 percent.

In 2002, tuition and fees covered about 46 percent of costs. By the 2008-09 school year, it had grown to nearly 62 percent.

Now, nearly 70 percent of four-year college students have to borrow money to go to college.

About 7.5 percent of students who borrowed to go to a four-year college defaulted on their loans.

At community colleges, 15.3 percent eventually defaulted. The national default rate is 7 percent.

Bluefield State College and West Virginia State University have default rates of more than 10 percent.

Auditors found that the state's Northern Community College has a default rate of 21.3 percent.

Southern and Eastern Community Colleges have default rates of 17.9 percent. New River Community College has a default rate of 17.5 percent.