Final answer:
The term for college costs is 'tuition.' The cost of college has significantly increased over the years, leading to a substantial rise in student loan debt. This increase has outpaced median household income growth, affecting students' financial situations.
Step-by-step explanation:
The term for what college costs using a 7-letter word is "tuition." An example of a college's cost for the academic year 2009-10, although not specifically provided in the reference data, would have been lower than the $9,349 average tuition and fees in 2020 reported by the Bureau of Labor Statistics for a 4-year public university. Between 2000-2001 and 2019-2020, the cost of tuition, fees, and room and board more than doubled for private four-year colleges and increased by almost 2.5 times for public four-year colleges, indicating a significant increase in the financial burden on students.
Understanding the increasing cost of college is critical when considering the impact on student loan debt, which has surpassed $1.3 trillion, and the financial strain on households as median yearly income has not risen at the same rate as educational expenses.