The gamecock. (Columbia, S.C.) 1908-2006, August 27, 1992, Page 8, Image 8
Financi
By ROBERT LAMB
USC Times
Financing a college education
these days may pose as stern a test
as a student is likely to encounter
in any classroom ? and there is
no sign the rising cost will level
off anytime soon.
ine ounooK is ior rising costs,
R. W. "Pete" Denton, treasurer arid
vice president for business and finance,
said. "But we're doing all
we can to hold down the cost, and
I still believe that a university education
is a bargain."
Denton's forecast came on the
heels of across-the-board increases
in the costs of an academic year,
now totaling an estimated $6,523
for a full-time, in-state, undergraduate
student.
The good news was the increases,
averaging just under 5
percent, left USC competitive with
other institutions of higher education.
The cost per year for an instate
student ?at Clemson University,
for instance, is $6,722.
On the other hand, Denton said
the increases put USC high in cost
when compared with other southeastern
flagship universities. USC
tuition rose 4.9 percent to $2,818
for the academic year, which is
lower only than that of the University
of Virginia at $3,890, and the
University of Maryland at $2,829.
Tuition is only part of students'
cost of attending college for an
academic year. Both room and
board at USC also went up about 5
percent, and books will cost about
5.3 percent more than last year.
There is still room for thrift.
Housing can cost as little as
$1,354 or as much as $3,090. Meal
plans range from $1,278 to $1,680,
and books, estimated at $495, can
from one course
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"The outlook is for rising (l
costs. But we're doing
all we can to hold down
the cost, and I still be- ^
lieve that a university ic
education is a bargain." w
R. W. "Pete" Denton J
Treasurer ,
lo
D
study to another. Still, by the time th
the student tacks on other expenses,
such as transportation Gi
($735) and personal needs de
($2,206), the cost of a year at USC de
jumps to an estimated $9,474,
Bob Godfrey, associate director of pa
student financial aid and scholar- a
ships, said. toi
"For a non-resident student the ne
total rises to an estimated $13,705, sc
which is quite alarming," he said. gr
Apparently, the alarm has gone 0U
off among students, too. Godfrey's ch
office has been swamped with ap- ^
plications for student aid for h
1992-93 ? 13,687 as of July 19.
"That exceeds the total number
we received for 1991-92, 12,674, ^
and we still have seven or eight
months to go because we're still
processing applications for the ^
spring semester and for summer
school," Godfrey said.
td
A federal higher education bill *U1
passed recently by the House and ^
supported by President Bush,
would offer larger direct grants to ^
the poor, if the government has the 3111
money, and change the limits on ?"?
borrowing to make loans available ^
to even more students. i
tio
For 1991-92, Godfrey's office or
processed applications for more $51
than $46 million in financial aid. $71
Of the total, $37,590,000 (81 per- mc
.
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;nt) was for loans, $6,654,000
4 percent) was in grants, and
>,094,000 was in work-study
vards. Another $3.4 million in
holarships went to approximately
,800 students ? up from
>89-90, when about $2.9 million
ent to 2,690 students.
The figures mean many of toly's
students are incurring heavy
:bt to get an education, a devepment
that both Godfrey and
enton see as a worrisome sign of
e times.
"It's a very troublesome issue,"
odfrey said. "Many of our stu:nts
will graduate with a huge
bt to repay."
"I think we as a nation are now
lying for the 1980's, which were
nprinH r\f ctrf*at PYrpccAe " Hon ^
|/V11V/U U1 V/VVVUvJVO,
n said. "On the other hand, it f
iver has been easy to go to
hool, and within the state a deee
from USC is still a tremendis
bargain.
"I can tell you this: what we i
arge for our product ? a college
ucation ? isn't anywhere near
e cost of providing it, and no ,
atter how you look at it, going to ^
liege is not as expensive as not ^/jj
ing educated."
Tuition increases for 1992-93 on
SC's other campuses ranged
>m 4.95 percent at Spartanburg
20 percent at other regional jgr;
mpuses. For resident students, W
ition at Spartanburg rose from Ip
,010 to $1,060 per semester; at r,
>astal Carolina, it went fro
,010 to $1,085, up 7.43 percent;
d at Aiken an 8.72 percent in:ase
pushed tuition from $975 to i|
,060.
On the regional campuses, tuin
for resident students with 62
fewer earned hours rose from
82 to $700 a semester, and from
30 to $840 for those with 63 or
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