DAVENPORT, IOWA (July 18, 2019) — We know that Iowa students are committed to their education. Our state has long maintained the highest high school graduation rate in the country. We also have the fourth highest college graduation rate, with 68.5% of students finishing their degree within six years.
However, Iowa’s college enrollment and the number of degrees and certificates awarded have dropped significantly over the last decade.
Since 2012, tuition and fees have gone up 30.5% at Iowa’s private colleges. Over that time, ISU increased tuition and fees 21%, UI 19% and UNI 17%.
This fall alone, tuition is jumping $300 at U of I and Iowa State. Fees are also going up. UNI is freezing tuition and fees for the upcoming school year. For 2019-20, in-state, full-time undergraduate tuition will be $4,037 per semester at U of I, $4,021 at ISU and $3,833 at UNI.
Our private colleges are also raising tuition and fees by an average of 3.6 percent. At St Ambrose, full-time students will pay $15,766 in tuition per semester.
Rates are going up at community colleges too. Tuition will be $168 per credit-hour at EICC, an increase of 3.5% over last year.
These escalating tuition-rates deter many students from going to college, and those who do enroll often end up deeply in debt.
According to 2018 numbers, Americans have racked up $1.5 trillion in student debt, and 40% of borrowers are expected to default in the next few years. Increasing delinquencies at a time of low unemployment tells us that wages are not keeping up with the cost of living.
Student debt also impacts our economy because it puts serious limits on spending. Take the decline in homeownership, for example. A big chunk of that is attributed to the significant increase in student loan debt since 2005.
We must provide adequate funding for college and training that fit the life circumstances of workers and how employers do business. Support as part of state budget has shrunk, which has led to a 77 percent increase in student loan debt in the last 10 years and serious repercussions throughout Iowa’s economy.
Additional information
This is a legislative update by State Senator Jim Lykam, representing Davenport and Buffalo. For bio, photos and further information, go to www.senate.iowa.gov/senator/lykam.
To contact Sen Lykam when the Legislature is in session, call the Senate Switchboard at 515-281-3371. Otherwise he can be reached at 563-391-1919. E-mail him at jim.lykam@legis.iowa.gov.
Sen Lykam serves on the following committees:
