Tuition costs outpace inflation againPosted: October 28, 2010
According to the NY Times, The College Board’s annual report shows tuition costs at public and private universities outpaced inflation yet again this year:
“…four-year public universities increased their published tuition and fees almost 8 percent this year, to an average of $7,605, according to the College Board’s annual reports. When room and board are included, the average in-state student at a public university now pays $16,140 a year. At private nonprofit colleges and universities, tuition rose 4.5 percent to an average of $27,293, or $36,993 with room and board…
…Over the last decade, published tuition and fees at public four-year colleges and universities increased each year at an average of 5.6 percent beyond the rate of inflation.”
The spiraling cost of higher education has arguably been supported by generous federal assistance:
“In the last five years…average published tuition and fees increased by about 24 percent at public four-year colleges and universities, 17 percent at private nonprofit four-year institutions, and 11 percent at public two-year colleges — but in each sector, the net inflation-adjusted price, taking into account both grants and federal tax benefits, decreased over the period.”
These pricing dynamics show an increasing shift of funding for public higher education from states to the Federal government.