We all know that the cost of a college education is ridiculously high—topping out at almost $60,000 per year—but a new report by The College Board says that college prices are higher than ever.The College Board Advocacy & Policy centre’s Trends in College Pricing 2012 report found that overall the average cost of tuition and fees has gone up for both public and private schools by over 4%.
Here are some of the key findings from the College Board report:
- Average published tuition and fees for in-state students at public four-year colleges and universities increased from $8,256 in 2011-12 to $8,655 in 2012-13. The 4.8% increase in tuition and fees was accompanied by a $325 (3.7%) increase in room and board charges for students living on campus. At $9,205, room and board charges account for more than half of the total charges for these students.
- Average published tuition and fees for out-of-state students at public four-year colleges and universities increased by $883 (4.2%), from $20,823 in 2011-12 to $21,706 in 2012-13. Total charges, including room and board for students living on campus, average $30,911.
- Average published tuition and fees at private nonprofit four-year institutions increased by $1,173 (4.2%), from $27,883 in 2011-12 to $29,056 in 2012-13. Total charges, including room and board for students living on campus, average $39,518.
- Average published in-state tuition and fees at public two-year colleges increased by $172 (5.8%), from $2,959 in 2011-12 to $3,131 in 2012-13.
And though it is difficult to project future prices, it’s likely that the cost of tuition will continue to rise, leaving students with enormous amounts of debt in student loans.
Given the high cost of tuition, do you think college is worth it? Take our survey below on the Best Colleges in America—or tell us why it’s all a big waste of money.
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