12:17pm

Mon March 11, 2013
Business

Tenn. College Says Middle-Class Getting Squeezed Out of Higher Education

Credit hiwassee.edu/

MADISONVILLE, Tenn. (AP/WMOT) — A private East Tennessee college says middle class students are being priced out of higher education and has decided to reduce tuition in response.

Hiwassee College in Madisonville voted to reduce the student tuition cost by $6,000 per year, resulting in a $24,000 saving on a four-year degree.

Hiwassee spokesman Todd Littleton says the move will help middle class families who earn too much to qualify for financial aid, but not enough to afford private college for their children.

“Middle income students, on average, owe about $6000 more on student loan debt than families coming from families making less than $40,000. They owe $11,000 more than students coming from families earning greater than $100,000.”

Beginning this fall, a residential student will be able to attend Hiwassee for under $20,000 per year. Hiwassee College is a liberal arts school, affiliated with the United Methodist Church.

Students attending one of Tennessee’s public universities are likely to face another round of tuition increases this fall.