With the cost of college tuition continuing to increase each year, it’s no surprise that students, parents, and other individuals are becoming increasingly more interested in knowing where all that tuition money actually goes. In fact, on average, tuition tends to increase about 8% per year, according to Financial Aid!. The following are 5 places that tuition money helps to cover.
- Basic upkeep of the school. Tuition money obviously goes to the basic upkeep and bills associated with running a school. This typically includes electricity, maintenance, and other necessary expenses the school incurs. Tuition money is also used for paying the workers that work on up keeping the school such as custodians and lawn care technicians. The same holds true for online-based schools. Student tuition pays for running the servers that keep Internet-based institutions up and running, as well as pays the maintenance workers who keep those machines chugging along.
- Remodeling and expansion projects. A good amount of tuition money is spent on expanding buildings and wings and adding new equipment to existing buildings, labs, and classrooms. In addition, as schools enrollment rates continue to increase and they see the need for the addition of other programs and buildings, money will also be used to add more buildings and classrooms for students. Online, this "remodeling and expansion" is typically seen in upgrading software, platforms, and teaching materials to reflect the latest in computer technology.
- Libraries. Many colleges and universities have well stocked libraries that are current with up-to-date books and resources for students to use. Libraries also typically have computers and databases with information that students need and have expansive areas with books, magazines, newspapers and other resources. Maintaining a library involves keeping updated with books and computers and the general maintenance associated with the library. These types of libraries typically cost a lot of money to run and this is one of the places that tuition money goes into. Online, tuition money helps to cover the digital libraries universities provide to students, as subscriptions must be maintained and new material must be added every day.
- Professor salary. Part of tuition money goes to pay for the salaries of professors that work on college campuses and in online instruction. This is a relatively large expense, as professors are important to the quality of education that students receive and many colleges and universities pay their professors very well.
- Student Services. Tuition also goes to things that are associated with the students that pay tuition. This generally includes student services such as clubs associated with the school, sports teams, and events, which can sometimes be pretty costly. Student services are also intended to assist students in a number of things they may need help with such as tutoring, financial advising, educational advising, and other services such as gyms and rec centers. The same types of services are offered online, so online student tuition goes towards the same thing.
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