Students and families will get little relief from rising college costs this fall, with tuition and fees slated to increase an average of 4.5 percent at private nonprofit colleges and universities, according to a new survey of nearly 500 schools released today by the National Association of Independent Colleges and Universities (NAICU). That figure is a bit higher than last year’s 4.3 percent increase in tuition and fees, but is still among the lowest increases in nearly 40 years, NAICU says.
The tuition hike for the 2009-10 academic year was the smallest increase in tuition and fees since the 1972-73 academic year. This year’s jump is the second lowest since then. Prior to the recession, the average annual increase at private colleges was 6 percent, NAICU says.
NAICU’s survey collects only percentage increases from school, not actual dollar amounts. According to the College Board, The average published tuition and fees at private colleges and universities in 2009-10 was $26,273; after factoring in grant aid and federal tax benefits, the fees for full-time students drop to $11,870. Figures are not yet available for the 2010-11 academic year.
Read the full article: Private College Tuition Continues Upward Climb