After years of skyrocketing college costs, enrollment, federal aid, and student borrowing, new figures out last week from the College Board reflect a more stable picture for higher education.
The average published price for attending a public, four-year college (in-state) went up just 4.8 percent this school year, compared with an 8.3 percent spike reported the previous year. The average annual growth in the past decade was 5.2 percent. For 2012-13, the average tuition and fees amounted to $8,655, while room and board was $9,205, according to the College Board Advocacy & Policy Center’s “Trends in College Pricing 2012.”
Out-of-state students paid an average of $21,706 this year, up just 4.2 percent.
The average cost of attending a private, nonprofit college is $39,518—up 4.2 percent over 2011-12.
For the first time in 20 years, total education borrowing, including federal and nonfederal student and parent loans, declined by 4 percent between 2011-12 compared with the previous year.
