The annual report from the College Board indicates that the cost of tuition went up last year. On average, costs increased from 5-6%, depending on the type of institution. If you want more specifics, you can see the summary of the report in today’s edition of Inside Higher Ed.
The big question is how much colleges will have to raise tuition in the next budget cycle. A lot will depend on how their admission and financial aid numbers look. But most colleges set their budgets for the coming year before the incoming class has been accepted–much less made commitments to attend by putting down deposits. I expect colleges will be very conservative in the coming budget cycle. Will colleges and universities raise tuition? Is the sky blue? Of course they will raise tuition. But will prices rise by a much higher percentage than in the past? Hard to tell at this point.
Mark Montgomery
Educational Consultant
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