As the Obama Administration moves to hasten student debt relief, the College Board reports that published tuition and fees average as much as 8.3 percent higher for 2011-12, depending on a student’s residency, the institution’s profit status and whether the school is public or private.
Overall, higher tuition and fees are symptoms of the weakened economy and the accompanying state funding cutbacks, combined with steadily increasing enrollment.
“While the importance of a college degree has never been greater, its rapidly rising price is an overwhelming obstacle to many students and families,” said Gaston Caperton, president of the College Board, the nonprofit advocacy organization. “Making matters worse is the variability of price from state to state.”
Obama yesterday signed an executive order to accelerate student loan reform that was to take effect in 2014, reducing monthly payments for 1.6 million borrowers. Now, the student debt relief, including greater options for consolidation and lower interest rates, will begin in January.
In its report also released yesterday, the College Board found the following:
- Published in-state tuition and fees at public four-year institutions average $8,244 in 2011-12, $631 — 8.3 percent higher than in 2010-11. Average total charges, including tuition and fees, and room and board, are $17,131, up 6 percent.
- Published out-of-state tuition and fees at public four-year colleges and universities average $20,770, $1,122 — 5.7 percent higher than in 2010-11. Average total charges are $29,657, up 5.2 percent.
- Published in-state tuition and fees at public two-year colleges average $2,963, $236 — 8.7 percent higher than in 2010-11.
- Published tuition and fees at private nonprofit, four-year colleges and universities average $28,500 in 2011-12, $1,235 (4.5 percent) higher than in 2010-11. Average total charges, including tuition and fees, and room and board, are $38,589, up 4.4 percent.
- Published tuition and fees at for-profit institutions average an estimated $14,487 in 2011-12, 3.2 percent higher than in 2010-11.
The increasing cost of higher education has not slowed college enrollment. Total post-secondary enrollment increased by about 22 percent between 2005-06 and 2010-11. The largest increases have been in public two-year and for-profit institutions
See the College Board’s report.