The report, released Tuesday by the non-profit College Board, analyzes annual trends in college prices and student aid. While findings provide insight into how the recession is affecting students and institutions, they also underscore the complex relationship between what colleges charge and what families pay. "We really have to figure out how to make it simpler and more transparent," says author Sandy Baum.
Among factors that influence cost to students:
•Institution type. Community colleges posted the fastest one-year growth but remain the most affordable option. Sticker prices are highest at private institutions, but their students also get the most aid. (Average cost to low-income students, after calculating grant aid, declined from 2003-04 to 2007-08 in inflation-adjusted dollars.)
•Geography.New England posted the highest average tuition, room and board at public four-year colleges ($18,394); the South had the lowest ($13,026).
•Family income. Average grant aid at public four-year institutions ranged from $1,340 for students with parent incomes below $32,500 and $900 for students whose parents' income was $100,000 or higher.
•Debt. For-profit schools have lower sticker prices than private non-profit colleges, but median debt was higher for bachelor's degree recipients at for-profit schools ($31,190 vs. $17,040).
USA Today
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