| Education Cost vs Earnings |
| Written by Thomas Gambino | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tuesday, 22 April 2008 19:57 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private College Education |
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| Year | Cost per 3 credit hrs | Family Income Earnings |
| 1977 | $277.00 | $28,000.00 |
| 1978 | 293.62 | $29,680.00 |
| 1979 | 311.23 | 31,460.00 |
| 1980 | 329.91 | 33,348.00 |
| 1981 | 349.70 | 35,349.00 |
| 1982 | 370.68 | 37,470.00 |
| 1983 | 392.92 | 39,718.00 |
| 1984 | 416.50 | 42,101.00 |
| 1985 | 441.49 | 44,627.00 |
| 1986 | 467.98 | 47,305.00 |
| 1987 | 496.06 | 50,143.00 |
| 1988 | 525.82 | 53,152.00 |
| 1989 | 557.37 | 56,341.00 |
| 1990 | 590.82 | 59,721.00 |
| 1991 | 626.27 | 63,304.00 |
| 1992 | 663.84 | 67,103.00 |
| 1992 | 703.67 | 71,129.00 |
| 1994 | 745.89 | 75,397.00 |
| 1995 | 790.65 | 79,920.00 |
| 1996 | 838.09 | 84,716.00 |
| 1997 | 888.37 | 89,799.00 |
| 1998 | 941.67 | 95,187.00 |
| 1999 | 998.17 | 100,898.00 |
| 2000 | 1,058.07 | 106,952.00 |
| 2001 | 1,121.55 | 113,369.00 |
| 2002 | 1,188.84 | 120,171.00 |
| 2003 | 1,260.17 | 127,381.00 |
| 2004 | 1,335.78 | 135,024.00 |
| 2005 | 1,415.93 | 143,126.00 |
| 2006 | 1,500.89 | 151,713.00 |
| 2006 USA Census Bureau | Median Income | ($48,201.00) |
| 24 hrs at a private college: | 24 X $495.00 = $ 11,880.00 | Un-Affordable |
| 24 hrs at a public community college: | 24 X $81.00 = $ 1,944.00 | Affordable |
These figures are based on my experience, Joseph Gambino attending a Private University here in St. Louis County. My educational cost out grew my family income, based on the incomes on the right side. Where do you stand on family income? The conclusion is education cost has out grown many family incomes. How do we correct this issue?
10 years from now my grandson who is 7 now will be paying $895.00 per hour for a private college education, UN-AFFORDABLE
Motto: Missourian’s First
Joseph Gambino Running for State Representative 86th District of Missouri
Paid for by Citizens for Joe Gambino - Terrance Knox, Treasurer
