Colleges Entering ‘Difficult Financial Times’
October 29, 2008 | 9:56 pm | by t-blender |Rate It:
usaToday.com: After several years in which college costs rose more rapidly than other consumer goods, average costs for tuition and fees this year increased less than 1% for public and private institutions when adjusted for inflation, a report released Wednesday shows. They even declined at public two-year institutions.
But context is everything: The 2008 inflation rate of 5.6% is more than double last year’s rate (2.4%) and well over 1991’s 4.4%. And while financial aid spending has increased, it is not keeping pace with tuition increases.
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