May 23, 2013
A study released Monday said declining tax revenues and the weak economy have led to tuition and fee increases at two- and four-year institutions this school year. Those increases average more than five percent.
The figures were released by the nonprofit College Board, which owns the SAT college entrance exam. The board said tuition and fees at four-year public institutions now average more than $4,000 a year.
But College Board President Gaston Caperton said public colleges and universities are "still a remarkable value."
The average yearly cost at a four-year private college also went up more than five percent to about $18,000.
Financial aid is also growing. The board says a record $90 billion in financial aid -- including loans -- was handed out during the 2001-2002 school year.
