A survey by Intelligent.com reveals that nearly one in four college students will drop classes if inflation increases tuition costs.
College tuition costs rise by small percentages at most colleges and universities each year, according to Intelligent.com. For that last academic year, tuition rose by an average of 1.6 percent.
However, inflation in 2022 may force colleges and universities to increase costs by as much as 5 percent.
Intelligent.com surveyed 1,000 United States college students about the effect inflation might have on their education. Nearly one in four responded that they would have to drop some or all classes if tuition increased by 5 percent.
The survey also revealed that one in three students would have to reduce spending on food to compensate for increased tuition costs, and 24 percent would take out more student loans. Of this group of respondents, most have already acquired $10,000 or more in student loans.
Nearly 60 percent said they would work more hours at their job to compensate for the increase in costs, and more than 45 percent said they would get an additional job.
Ninety-one percent of students said a tuition increase would somewhat or greatly affect their finances.
Intelligent.com conducted the survey via Pollfish between July 22 and July 26, 2022. All respondents were between ages 17 and 25, and currently enrolled in college courses for fall 2022.
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Rebecca Barnabi
