College cost trends
Every October, the College Board releases its Trends in College Pricing report that highlights college cost increases for the current academic year and trends in the world of higher education. While costs can vary significantly by region and individual college, the College Board publishes average cost figures, which are based on its survey of 3,500 colleges across the country.
To read the Trends in College Pricing 2011 report, visit www.collegeboard.com/trends.
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
• 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.