Tuition fees at Ivy League universities jumped to $85 a year: students in shock

Potential Ivy League students and their families are shocked that the cost of tuition at elite universities has jumped to $85 a year. Writes about it New York.

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Five of the eight Ivy League institutions have annual tuition, room, board, and other fees in excess of $80 as of their final academic year, representing more than $000 over four years.

According to economist Beth Akers, rising costs could make even the most successful students think twice about getting a degree from such institutions.

“At some point, this scheme stops working,” Akers said. “We’re getting to a point where these degrees are just not worth it anymore.”

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Brown University has the highest price tag, with an annual tuition of $84 including room, board, and other fees, according to the most recent statistics available.

The University of Pennsylvania came in second on the list with a total cost of $84, followed by Cornell University with a $570 pricing policy.

Dartmouth College ($84), Yale University ($300), Columbia University ($83), Harvard University ($880) and Princeton University ($81) are slightly behind.

Tuition fees are rising rapidly at other ultra-exclusive colleges outside of the Ivy League as well. For example, according to the publication, education at Duke University costs $83 per year. Caltech is available for $263 per year.

Financial aid will help cover high costs for eligible students.

Yet elite colleges remain out of reach for many. According to the US Census Bureau, the real median household income in 2021 was just $70.

The cost of tuition is rising even as the administration of US President Joe Biden implements a massive plan to write off student loans, which has run into legal problems.

The Supreme Court is considering whether President Biden has the right to write off student debt.

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Under Biden's plan, the federal government will forgive up to $20 in student loans per borrower.

The conservative-majority Supreme Court was skeptical of the legality of such a decision in the case's initial hearings.

One notable critic of the plan is hedge fund chief Michael Berry, who warned that it would have "dreadful consequences" for the country.

“Let's not forget that the student debt problem is built on a foundation of very serious decisions,” Berry tweeted. “Releasing generations of these bad decisions will mean more bad decisions, higher tuition, and dire consequences for America.”

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