MN and 48 states fail college affordability study

According to financial advisers, if you want to pay for your child's college education you should be saving 450 dollars a month.

13 years from now, it's projected to cost $100,000 for a state university education.

It's up to three times more that amount for a private school.

So perhaps it shouldn't come as a surprise that a study by the National Center for Public Policy and Higher Education gave Minnesota and 48 other states an 'F' when it comes to college affordability.

The only state to receive a 'C' or passing grade is California.

Over the past 25 years, college costs have increased an average of 400-percent with student loans becoming more expensive and harder to find.

In addition, the study said poor and working class families have to devote 57% of their income to currently afford costs of a public four year institution.

Still, Minnesota does have cheaper alternatives, like Anoka-Ramsey Community College.

"People who may not have considered going to college because of cost are able to come here and be presently surprised at what they see," said ARCC's Mary Jacobson.

The greatest surprise at Anoka-Ramsey may be the cost of tuition.

While tuition at other schools has skyrocketed, in comparison, Anoka-Ramsey's tuition has not.

At $136.80 per credit, it's the lowest community college price in the state and it's the same price if you're a resident or not.

"I just graduated from high school in May 2008 and I am in my second year here," said Whitney Pomeroy.

Pomeroy is putting herself through school, but was somehow able to save money before she even graduated high school.

Through Minnesota's Post-Secondary Education Option, Pomeroy earned college credits for free.

"I took eight credits and saved about a thousand dollars," Pomeroy said.

That's a thousand dollar savings at Anoka-Ramsey Community College, but her credits will transfer to another state college or university where the savings would be even greater.

Pomeroy says it's not easy to go it alone, but in the long run even that may be worth it.

"Some of my friends are having their parents pay for a state college and I guess in a way I see it as a way to mature and responsibility cause right now I'm paying for some of it and I have to find the money to pay for it," said Pomeroy.

Cash, so far she's been able to come up with to get her first couple of years of college behind her, as for looking ahead she's still going to pay a pretty good price for that nursing degree.

"$10,000 to $15,000 dollars per year," Pomeroy estimated it would cost once she transfers.

Enrollment at the 25 Minnesota State Colleges and Universities under MNSCU increased 3% this year compared to last, while enrollment at Anoka-Ramsey Community College increased and unexpected 5%.

It's too early to tell if the greater increase at Anoka-Ramsey is a result of the cheaper tuiton or a combination of other factors.

By Jeffrey DeMars, KARE 11 News

Check out our KARE family of Web sites:
	takeKARE		Metromix
	Moms Like Me		Minnesota Bound
	Showcase Minnesota