GOOD
Articles

American Students Are Paying More Than Ever For College (Again)

Over the past five years, the average published price at a four-year university has increased by 27 percent.


We've all heard the saying that the only guarantees in life are death and taxes. Well, here's another truism: Every year the cost of college goes up. Over the past five years, the average published price at a four-year university has increased by 27 percent. According to the College Board's annual Trends in College Pricing report, costs at these "institutions rose more rapidly between 2002-03 and 2012-13 than over either of the two preceding decades."

It's not that schools are trying to gouge students. Instead, the report notes that revenue shortages—think of all the reports you hear of state budget cuts to higher education—instead of wild spending on campus are behind the rapid rise in public college prices. And yes, prices are up again for the 2012-2013 school year, too. The average published tuition and fees for in-state students attending four-year public colleges and universities jumped 4.8 percent—increasing an average of $399 dollars to $8,655 in 2012‐2012, and the costs of room and board rose 3.7 percent—up $399 dollars to $9,205. Combined with the cost of books, supplies, and other expenses the sticker price to attend an in-state public college is up 3.8 percent to a new record $22,261.

Keep Reading Show less