Despite only modest increases to tuition and fees, the cost of a college education continues to outpace growth in financial aid, family incomes, and the average prices of other goods and services.
“The reports document that, despite the moderate increases in average published prices, there were considerable increases in net tuition and fees over the past few years,” report co-author Jennifer Ma said in a press release. “These increases, combined with stagnant incomes for many families, raise concerns about ensuring educational opportunities for low- and moderate-income students.”
In addition, data show that although reliance on student loans is higher than it was a decade ago, borrowing for college has declined over the past five years. And while grant aid is increasing, net price at both public and private institutions is also rising.