From the News You Can Use Archives 01/09/07

The Measure of College Costs

By Ian Crawford, Web Communications Editor

It's getting more expensive to attend higher education institutions. If you didn't know that already, then a new report offers more proof.

Postsecondary Institutions in the United States: Fall 2005 and Degrees and Other Awards Conferred: 2004-05 by the U.S. Education Department's National Center for Education Statistics is a “first look” at the most recent data collected through the Integrated Postsecondary Education Data System.

The total number of institutions eligible to award federal financial aid grew from 6,548 to 6,600 with most of that growth coming in the for-profit sector.

Of particular note for the financial aid industry are statistics showing the cost of attending college. Regarding tuition and required fees, it's most expensive for those undergraduates attending private nonprofit institutions, followed by private for-profit and four-year public colleges.

Average tuition and required fees for undergraduates 2005-06:

Private nonprofit four-year institutions	$16,888
Private for-profit four-year institutions	$13,894
Out-of-state undergrads at four-year public institutions	$12,652
In-state students at four-year public institutions	$5,206
In-state students at community colleges	$2,514

Average tuition and fees have increased the most for grads attending four-year institutions (17 percent over 2003-04), while at private nonprofit institutions the increase was 12 percent and at private for-profit institutions, 11 percent over the same two-year period.

When room and board charges, books and supplies, and other expenses are added to the equation, the price of attendance at private for-profit four-year institutions is the most expensive.

Overall average price of attendance for undergraduates 2005-06 and increase on 2003-04:

Private for-profit four-year institutions	$28,250	12.5 percent
Private nonprofit four-year institutions	$27,754	11.3 percent
Out-of-state undergrads at four-year public institutions	$22,791	13.6 percent
In-state students at four-year public institutions	$15,114	13.8 percent
In-state students at community colleges	$9,836	10.2 percent

In the last two years, students at all institutions experienced a double-digit increase in the price of attendance, but it was most noticeable for undergraduates at four-year public institutions.

Postsecondary Institutions in the United States: Fall 2005 and Degrees and Other Awards Conferred: 2004-05 - U.S. Education Department's National Center for Education Statistics

Story posted January 9, 2007.

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