College Board Releases New College Cost Numbers

Note that the “total average cost” figure includes tuition and fees, room and board, books and supplies, transportation, and a small amount for miscellaneous expenses. This figure is often referred to as the “cost of attendance.”

Public colleges (in-state students)

Tuition and fees increased an average of 8.3% from last year to $8,244
Room-and-board costs increased an average of 4.0% to $8,887
Total average cost for 2011/2012 is $21,447

Public colleges (out-of-state students)

Tuition and fees increased an average of 5.7% from last year to $20,770
Room-and-board costs increased an average 4.0% to $8,887
Total average cost for 2011/2012 is $33,973

Private colleges

Tuition and fees increased an average of 4.5% from last year to $28,500
Room-and-board costs increased an average of 3.9% to $10,089
Total average cost for the 2011/2012 year is $42,224

Student aid trends

The College Board also publishes an accompanying report every October called Trends in Student Aid that examines financial aid in more detail. To read the report, visit www.collegeboard.com/trends.

The College Board noted that last year, approximately 46% of all grant aid came from the federal government, 36% came from colleges, 9% came from state governments, and about 9% came from employers and other private sources. Grant aid is the most desirable type of financial aid because it doesn’t need to be paid back.

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Do we understand what is happening here? Why does tuition continue to increase year after year?

Think about ‘stimulus’, inflation, department budgeting.

Please comment below to help push this data out to the masses to help them understand.