College is becoming a lot more expensive – Financial aid is not keeping up with tuition increases

A new report finds that financial aid is not keeping up with tuition increases. Therefore, college costs students more and more every year. The College Board just reported today that college has gotten more expensive again this fall. Tuition and fees rose 3% compared to last year, and financial aid has not been keeping up with the tuition increase.

 

One of the authors of the College Board says that College is becoming less affordable for many people. The average tuition for in-state students rose to $9,410 this year, which is up 2.9% from last year. The total cost of a public university got to $24,000; this is $651 more on average compared to the previous year. The net cost for a typical student who is living on campus at a public university is estimated to be around $18,000, or 3.2% more expensive compared to last year.

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