How do public and private colleges set their tuition costs, and why are these cost so high?
Public and private colleges use different variables for setting tuition. A public college’s tuition is determined by the funding it receives from the state. Rising costs at state schools are partly due to state governments restricting the growth in appropriations when the economy slows. Private colleges set their own tuition, but need to be competitive and offer programs and facilities that appeal to students and teachers alike. Technology and facility costs, as well as faculty salaries and the amount of financial aid awarded, also contribute to the cost of tuition.
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