College costs continue to rise

The College Board released its annual report on college costs. Guess what? College is getting more expensive.

Here's part of the story from The Associated Press:

The price of college again rose faster than the inflation rate this year, climbing 6.6 percent at four-year public schools and outstripping increases in the financial aid that lowers what most students actually pay.

The latest increases, reported today by the College Board, bring the average list price of four-year public universities to $6,185 this year, up $381 from 2006-2007. At four-year private colleges, tuition and fees rose 6.3 percent to $23,712.

Public two-year colleges — which educate about half of American college students — again got the best marks for keeping a lid on price increases.

Their average price rose 4.2 percent to $2,361. Accounting for aid, their average net cost is only $320 per year.

The published price is not the real price for many students, thanks to financial aid, but the net price is rising too. On average, accounting for grants and tax breaks, the net price for full-time students at four-year public universities this year is $2,580. That’s about $160 more than last year.

At private colleges, net cost this year averages $14,400 — up $638 from a year ago.