We are choosing between 4 year locked rate vs variable rate for my son as he prepares for his NSC. The locked rate seems better to me, but I wanted to post it to here in case I am missing something. Thanks.

I believe fixed rate is your best bet.

Thank you.

What is the historical escalation in tuition?
The tuition website indicates variable tuition increased from $6534.02 in 2020 to $6671.15 in 2021 (2.1% increase). The 'locked' rate assumes an 8% increase - which would apply the first year and remain fixed.

Another perspective: if you have money saved (e.g., 529) and invested, it can continue to grow - potentially at a higher rate of return than the projected escalation.

Who has a crystal ball to predict tuition escalation?

Last 3 years tuition went up something like 2.1,3.2, and 2.8.
Variable would have been best bet over 4 years with fixed being set 6-7% above 1st year and staying put. If you're gonna need 5-6 years to graduate, pick fixed.
We picked fixed rate due to universities are gonna have to make up for lost Covid revenue somehow as well as inflation is already taking off these last few months. I'm making the guess the days of 2-3% tuition increas are gone.

Bump for some more feedback on this election. Thank you -

Just remember 2 things on tuition

1)fixed isn't as "fixed" as advertised for online classes - there are extra charges for classes that are only offered online- which didn't make sense to me but that's what the charges were

2) you pay the same whether you take 12 hrs or up to 16 so you leave $ on the table if you don't take advantage

Is variable rate the way to go now that the state has committed no increase the next two years?

I would like an update on this too.

Anyone with info?