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Piggy bank standing on college textbooks
Jan, 31, 2012
With each passing school year, more and more California students, parents and media outlets cry foul that the cost of higher education is rising. But as the Golden State sinks further into debt, its education budget continues to suffer, and colleges are seeing a reduced flow of state-backed funds. To compensate, they’re raising prices—but at a much more alarming rate than most of us might expect. “Soaring tuition and shrinking incomes are making college less and less affordable,” said Sen. Tom Harkin (D-Iowa), chairman of the Senate Health, Education, Labor and Pensions Committee, in an email to Bloomberg. “For millions of young people, rising college costs are putting the American dream on hold, or out of reach.”