College tuition is very expensive, and when you are paying so much money for something it often makes you wonder where the money is going. Colleges are not always upfront with where exactly your money is going. I know when I realized how much money I was going to be paying for college I researched exactly where my money was going to go.
The worst thing I found in my research was that most expects agree that only about 5% about your college tuition money actually goes to the students. Many colleges continue raising college fees for two reasons to pay their back debt, and because they can. Its the case of supply and demand. Good colleges are in demand, so the consumers or the students will have to pay more for them. While most the money that colleges does not go to the students there are many things that the colleges spend their money on. These are the main places that the colleges spend your tuition money.
The Professors salary’s: This is a very large expense. You obviously need to have high quality instructors, and high quality instructors cost more money. For most colleges and university’s this can be the biggest expense. Although this isn’t considered going directly to the students, this is something that you obviously want your college to spend money on.
The cost of running the school: There is obviously the basic cost of running the school. This is everything from electricity to the upkeep of the grounds. There are a lot of expenses because the colleges are having to constantly update and remodel.
Libraries: Most colleges and universities have well stocked and expansive libraries. These libraries cost a lot of money to run. You have to have the librarian’s to run the library, the maintenance and upkeep, also the cost of keeping the books current.
Financial Aid: There are many people that are getting help financially paying for their college tuition. Obviously this money has to come from somewhere. The tuition that everyone pays help provide the financial aid for the students that cannot afford to pay.
Student Services: This money is spent on things for the students. This is the money that is often used for athletics, and clubs. Some people would say this money helps make college fun. This is another category that while it doesn’t go directly to each student, it is important for all the students.
Those are the main category’s of what your college tuition goes to pay for. There are also lots of other smaller expenses that colleges have to pay. There are lots of smaller expenses that we wouldn’t even think about. They have to pay for things such as planning fees, and costs for debt services.
College tuition is very expensive, and it can seem like your money is just disappearing, but you can always earn some extra cash. But the truth of the matter is that colleges have a lot of expenses. Colleges and university’s provide a great service, and although it is expensive it is well worth it.