College is still getting more expensive - Bring Me The News

College is still getting more expensive

College is getting more expensive.

Good news if you're planning to go to college! It's getting more expensive.

Even better? The amount of financial aid isn't keeping up.

So yeah, that's ... super awesome.

So here's what's actually happening.

This group called the College Board put out its yearly look at what's happening to college tuition costs. You can read the full report here.

What it found was the published cost of tuition and fees went up anywhere from 2.2 to 3.6 percent, on average, between this current school year and last.

That rate of increase is actually lower than it has been recently. But it's still outpacing student aid.

As Inside Higher Ed explains, the total amount of student aid provided has basically been the same the last couple years, even while tuition and other costs are rising. (But as the story notes, financial aid levels are way above where they were 10 years ago.)

Also interesting: Undergraduate students borrowed less, leading to a fifth straight year of lower overall borrowing.

The study picked out a flagship university from each state – in Minnesota that was the University of Minnesota Twin Cities. In-state tuition this year was listed at $14,140 – the ninth-highest of all the flagship schools. But out-of-staters will pay $23,800, which is one of the lower marks on the list.

How much students are actually paying

Factoring in student aid/scholarships/grants and other help, the study came up with the average net price of college (which is how much students actually end up having to pay). That's gone up for many students compared to a few years ago.

The average net price at four-year public colleges for this school years is $3,770 – that's $1,550 more than in 2009-10, and $860 more than 2006-07.

For two-year colleges, the net price this year is actually $920 less than a decade ago. But $270 more than in 2011-12.

At four-year private institutions, this year's average net is $14,190. Again, higher than five years ago, but lower than a decade ago.

"The reports document that, despite the moderate increases in average published prices, there were considerable increases in net tuition and fees over the past few years," co-author Jennifer Main said in a news release.

Next Up