While college costs have continued rising, median incomes over the same period have not increased at corresponding rates, as we first posted here. The failure of income to rise at the same pace as college costs increases can place greater pressure on family budgets, potentially restraining college choices. Thus, families may spend more effort in investigating potential colleges before application than past generations of college bound students. Knowing what a student values about a future college experience and being reasonably assured a college will match that expectation can help determine if the expense will be affordable.
Chart Source: The College Board, Trends in College Pricing 2013