Here’s something that might seem unbelievable: The cost of attending college has actually become cheaper in the past decade.

Between the 2016-2017 and 2026-2027 academic years, the average tuition and fees declined 8.3% for in-state students at public four-year colleges and universities after adjusting for inflation, according to a new report from the College Board. The decline was even starker at public community colleges, where the average inflation-adjusted tuition and fees fell by 12%.

Dialing in on this academic year, the New York-based nonprofit likewise found that the increase in average tuition and fees was rather measured, with increases ranging from 2.4% for students attending public two-year colleges to as high as 3.7% for students attending private nonprofit four-year colleges. But those increases aren’t adjusted for inflation—and the consumer price index rose at an annual rate of 3.7% in September, according to the most-recent reading from the U.S. Bureau of Labor Statistics.

“This year’s tuition increases continue a pattern we’ve seen for more than 10 years,” Jennifer Ma, executive director of policy research at College Board, said in a statement. 

But as parents and students can attest, such trends may not feel like much consolation. For this academic year, the total price tag—inclusive of tuition and fees, along with housing, books and transportation—topped $100,000 at 16 different institutions ranging from Harvey Mudd College to the University of Chicago to the University of Southern California, according to data The Princeton Review recently provided to CNBC. 

But some private colleges are bucking that trend, as The Wall Street Journal recently reported, by slashing tuition prices or finding other creative ways to reign in costs.

Source link