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Is university unaffordable?

26/4/2015

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Recent research shows that a majority of Americans believe that university is out of reach financially. They believe this because fees have increased by 250% in the last 30 years, and the average graduate leaves with $25,000 in student loan debt. 

In New Zealand, the figures are worse. The average university student is charged fees of around $5,000 - $7,500 each year (some courses like medicine cost much more). Thirty years ago, in New Zealand, university was more or less free. In 1990, a standard fee of $1,250 was introduced. That’s an increase of at least 400% in 25 years. In New Zealand, the average student loan debt is also around $25,000 at the time of leaving university. It’s time for us as a country to have a debate on fairness in tertiary education and to stop treating students as cash cows who can fund higher and higher costs without question. 

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