College price hikes appear to be moderating
WASHINGTON (AP) — There's some good news on college tuition. Yes, the cost has gone up — but not as much in the past.
For in-state students at a four-year public college or university, published tuition and fees increased this year on average $247 to $8,893. That's a 2.9 percent increase — the smallest one-year increase in more than 30 years, the College Board said today in its annual report on college prices.
Out-of-state prices, as well as the costs to attend public two-year colleges and private institutions rose but they also avoided big spikes, said Sandy Baum, co-author of the report. These more moderate increases could lessen concern that an annual rapid growth is tuition prices in the new normal.
"It does seem that the spiral is moderating. Not turning around, not ending, but moderating," Baum said.
The average published cost for tuition and fees at a private college for the 2013-14 academic year was $30,094 — up $1,105. An out-of-state student at a public college or university faced an annual average price tag of $22,203, which is up $670. The average price tag for an in-state student to attend a two-year institution was much less at $3,264 — up $110.