The sticker price for college—tuition, fees, room, and board—has risen at far above the inflation rate. Many students pay less than full price thanks to financial aid. But that adjusted price has also risen faster than the inflation rate—and at public colleges, faster than average family incomes.
Percentage growth since 1990-91 in average price for tuition, fees, room, and board, adjusted for inflation:
* Charges for public, two-year students include an estimate of housing and food expenses for commuter students not living with their parents, based on expenses reported by institutions, when available. Figures for earlier years in the analysis were derived from room and board charges at public, four-year institutions.
Note: The inflation rate measures prices over time in consumer goods and services. Figures adjusted for inflation depict actual growth above the rate of inflation. Some students pay the full, "sticker" price. Many pay less; this chart shows sticker price minus estimated average grant aid plus educational tax benefits per full-time students. Figures do not include some additional college costs, like books and transportation.
Source: College Board, Census Bureau
Comments
1. 3224243 - August 24, 2010 at 07:06 am
When state support for public education drops from 60% to 40% in less than a decade, of course the cost goes up.
2. trendisnotdestiny - August 24, 2010 at 08:40 am
Also, the market dictates prices.... so we could consider 3224243's comment in light that not only has the funding source morphed from public to private but the increases in tuition across academe have been equally engineered....
The price is dictated by the market, so one of the only ways to reduce prices is to lower demand for the product(accreditation). This is unlikely given the administration'a plans.
3. a_voice - August 24, 2010 at 09:41 am
@3224243: State support would have also affected public 2-year colleges, but notice how their "minus financial aid" cost growth is less than the "average family income" growth.
One thing that I have noticed at 4-year public colleges is that too many of them want to be world-class research universities and sports power players. Maybe their ambitions are too costly?
4. sgtrock - August 24, 2010 at 09:59 am
In my state, two-year community colleges are supported by their own taxing districts, thus they are less dependent on state funding. In the last thirty years, our state support has fallen from 70% to about 28% of our budget and will inevitably drop to zero in the intermediate term. We're already talking about going private. We'll eliminate draconian administrative procedures, plus we'll completely control our tuition and fees.
It's rapidly coming to the point that dwindling state funding is not worth the extra administrative burden that comes with it ...
5. tuxthepenguin - August 24, 2010 at 01:51 pm
"State support would have also affected public 2-year colleges, but notice how their "minus financial aid" cost growth is less than the "average family income" growth."
Not necessarily in the same way. They may have faced different cuts. Room and board has also changed a lot at 4-year schools. Maybe 2-year schools are raising class sizes and hiring less qualified faculty at lower wages. We need to be careful about pointing the finger at 4-year schools based only on this information.