College costs on the rise again

last updated 8 January 2015

The cost of college, which dropped during the recession and recovery, is slowly rising again, the College Board reported this week. Increases in tuition and other costs outpaced the growth of financial aid, resulting in a price increase of 5 percent, or about $400, for public institutions. The average price of tuition, fees, and room and board, after financial aid and tuition tax credits are deducted, has reached $12,110 for in-state students at public four-year colleges and $23,840 at private nonprofit institutions. This year’s price increase, however, was only half the rate of the past two years. “It’s an improvement in a bad story,” said Sandy Baum, a policy analyst with the College Board.