On October 20, 2009, the College Board released college cost figures for the 2009/2010 academic year in its annual Trends in College Pricing report. Costs increased in every category--here are the highlights:
Four-year public colleges (in-state students):
Four-year public colleges (out-of-state students):
Four-year private colleges:
"Total average cost" includes tuition and fees, room and board, books and supplies, transportation, and other miscellaneous costs. The report also notes that "average cost" is not necessarily representative of what most students pay. Not only is there considerable variation in price among institutions, but almost two-thirds of undergraduate students enrolled full-time receive grants that reduce the actual price of college.
For the 2009/2010 year, private college students will receive an estimated average of $14,400 in grant aid from all sources (colleges, federal government, state governments, employers, and other private sources) and federal tax benefits (American Opportunity and Lifetime Learning tax credits and tuition expenses deduction) and public college students will receive an estimated average of $5,400 in grant aid from all sources and federal tax benefits.
In its Trends in Student Aid report, the College Board notes that as of March 2009, there were 11.2 million existing 529 plan accounts, and that 85% of these are college savings plan accounts while 15% are prepaid tuition plan accounts.
To read or download the Trends in College Pricing 2009 (PDF document), click here.
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