Tuition and fees for public four-year colleges are now $7,020 on average and for private colleges $26,273, the College Board reported Tuesday, with prices rising faster in the public sector.
Colleges and universities have not slashed sticker prices in response to the economic downturn. On the contrary, tuition and fees rose 6.5 percent at public four-year colleges compared with the 2008-2009 school year and 4.4 percent at private, nonprofit, four-year institutions. Those were steeper rates of increase than in prior years, after adjusting for inflation. Over the past decade, annual increases have averaged 4.9 percent at public colleges and 2.6 percent at private colleges.
Something’s clearly broken here.