Colleges face the economy

College is one of the biggest expenses that a family might have - tuition for four years a private college can rival the cost of a home. But as the economy shrinks, state aid for higher education may be limited and families can afford less tuition, leaving colleges with questions about what they can charge, and what programs and services they can offer. We talk with Tim Donovan, president of the Community College of Vermont and Robert Clarke, the chancellor of the Vermont State Colleges, about how these schools are affected by the economic downturn. And we'll learn what one expensive private college is doing to keep its students in the know about the school's budget process.(Listen)

Also in program, Vermont elected a few dozen new lawmakers in the recent election. Before they take their seats in January, the freshmen legislators go through a rigorous period of learning the protocols and processes of working under the golden dome in Montpelier. VPR's Steve Zind takes us along for Legislative Orientation. (Listen)

And we introduce you to one Vermont teenager whose fashion designs may one day grace the covers of magazines. Seventeen-year-old Rachel Brown of Arlington creates one-of-a-kind couture from scraps of old clothing, fabric dye, hardware and lace. Her unique sensibility made her this year's pick for a $25,000 scholarship from Teen Vogue and the Council of Fashion Designers of America. (Listen)

 

 

 

Listener Comments:

Greg in Salt Lake City, former Vermont:

One issue that concerns me is that we may not see the impact of paying for college for 2,3 4, or more years from now. I am a father with a 4th and 8th grader. We currently allocate money towards a state 529 plan, and even though they are in age-related funds (that is, become more conservatively-invested as the student grows towards college age) these funds have been hit quite hard and this last downturn may end up influencing where our oldest son attends college in 4 years. We have been budgeting for $40,000 per year beginning in 2013 and the funds have been down about 30% in the last several months. As it currently stands, we will no longer be able to pay at this rate in 2013. 

 

Bob in Underhill:

How can we justify the cost of an education? As an example: if my child goes to Vermont Tech for automotive the cost to complete the program with required tools is over $40,000. However, based on Department of Labor data, in Vermont the average automotive technician earns $14.66 per hour. Or, UVM [costs] over $100,000. If a student gets a degree with the goal of being a school teacher, how are they going to make ends meet with projected earnings in the first five years of less then $40,000 per year?

 

Chuck in Nowrich:

My older son graduauted from UVM last May. He lived with 4 othere guys his senior year, all from out-of-state. This is typical of the UVM population- 63% of students from out of state; they pay roughly twice the tuition. Thus, UVM is now essentially a private school. Students in my younger sons class were denied admission to UVM in favor of higher paying out-of-staters. This is an outrage.

Betsey in Winooski:

When I was looking at grad schools I discovered that British niversities often have lower tuition costs and shorter degree programs than in the US (1-2 years for a master’s, 3 years for a PhD, and 3 years for many undergraduate degrees). VSAC student loans can be applied to many UK universities. It’s a wonderful choice for students who want to go to a top university but can’t afford $50,000 a year – and it’s a great adventure! I loved my time in the UK and am thrilled I went that route (and my bank account thanks me too).