Having just done our taxes and collected all the bills from last year, I have a good idea of what a year of college costs these days. Scholarships and college funds covered this year, and next year looks manageable, all things being equal. But the next year we’ll have two attending college, and we’ll see what happens.
We’ve been making adjustments to our household budget like most people over the past couple of years, as costs go up and we try to make income keep pace. It’s hard for me to imagine the difficulty of the situation being faced by new college grads in this economic environment.
In this NY Times article Charles Blow refers to these conditions as the “new normal” for our economic situation. I hope he’s wrong. I think with the right sort of leadership in our country we could change things to make sure these difficulties don’t become normal. He’s correct in his conclusion: “We are on an unsustainable track. This will not end well.”