College Tuition Rates Continue to Rise
Earning a college degree is certainly not getting any less expensive and a poor economy is not helping the situation. The average tuition and fees at four year public colleges rose 6.6 percent this year, which has pushed more students into seeking financial assistance.
In-state students at four year colleges are paying an average of $6,185 this year, up $381 from last year. Tuition rose 6.3 percent at the four year, private schools to the sum of $23,712 average. The price at two year colleges rose 4.2 percent to $2,361.
Students are footing more and more of the bill with private bank loans and loans from student loan companies. Private borrowing grew 12 percent to 14.5 billion in 2006-2007.
Less than ten percent of all college students attend schools with tuition that is over $30,000 a year. 56 percent of students at four year schools attend colleges that cost under $10,000 a year while one third are enrolled in schools that charge less than $6,000.
George Washington University in Washington D.C. recently was in the news for becoming the very first big university who published its prices that include room and board–the price was more than $50,000.
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