* In-state, public four-year institutions: $7,605, a jump of $555 from the previous year, or just under 8 percent.
* Private nonprofit four-year colleges and universities: $27,293, an increase of $1,164, or about 4.5 percent.
* Public two-year colleges: $2,713, an increase of $155, or about 6 percent
* For-profit institutions: $13,935, up $679, or about 5 percent over the previous year.
College costs have outpaced inflation for the last decade. At public two-year colleges, cost have gone up 2.7 percent over inflation in 10 years, College Board reports.
Financial aid to undergraduates now averages $1,100 per student, writes Sarah Butrymowicz on the Hechinger Report. That includes a big jump in Pell Grants for low-income students. However, more students are taking out loans and many families are earning less.
More students are enrolling in college, says Sandy Baum, a co-author of the College Board reports. However, as the federal government spends more on college aid, the states are spending less.
So it’s going to take greater effort on everybody’s part if we’re going to be able to provide the necessary funding to really get more students not only into college but also through college.
Federal aid is tied to financial need, while some states are subsidizing students who could afford to pay their own way, Baum says.