As inflation rises, institutions create more resources to help students and employees

Tuesday, September 20, 2022
National Association of Student Financial Aid Administrators

Within the past year, the costs of groceries, housing, utilities, and gas have increased, according to the Bureau of Labor Statistics. Just between June 2021 to June 2022, the Consumer Price Index (CPI) for all urban consumers increased 9.1%, which is the highest 12-month increase since 1981. And colleges are trying to combat that — either by increasing access to their food pantries, giving students funds for transportation, or helping students get other basic needs. Last month, NASFAA asked its members how much their institution increased the non-tuition/fees components of the cost of attendance (COA) for 2022-23 due to the rising inflation rate.

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