The Cost of College
College Board Releases New College Cost Numbers
The cost of higher education is on the rise and if your children are in college or if you are thinking about starting a college fund, FineMark can help you plan for the added expense. Every October, the College Board releases its Trends in College Pricing report that highlights college cost increases for the current academic year and trends in the world of higher education. While costs can vary significantly by region and individual college, the College Board publishes average cost figures, which are based on its survey of 3,500 colleges across the country.
Public colleges (in-state students)
- Tuition and fees increased an average of 8.3% from last year to $8,244
- Room-and-board costs increased an average of 4.0% to $8,887
- Total average cost for 2011/2012 is $21,447
Public colleges (out-of-state students)
- Tuition and fees increased an average of 5.7% from last year to $20,770
- Room-and-board costs increased an average 4.0% to $8,887
- Total average cost for 2011/2012 is $33,973
- Tuition and fees increased an average of 4.5% from last year to $28,500
- Room-and-board costs increased an average of 3.9% to $10,089
- Total average cost for the 2011/2012 year is $42,224
To read the entire Trends in College Pricing 2011 report, visit: www.collegeboard.com/trends.
Note that the "total average cost" figure includes tuition and fees, room and board, books and supplies, transportation, and a small amount for miscellaneous expenses. This figure is often referred to as the "cost of attendance."