Glaus & Associates, CPA, LLC

 

The following was taken from The Chronicle of Higher Education, October 29, 2004 issue.

Public colleges see a 10% rise in tuition for 2004-05.

Rates also increase at private institutions and community colleges.

The sticker price for attending a four-year public college rose 10% in 2004-05, according to the Col­lege Board’s annual tuition survey.  The increase was smaller than last year’s surge of 14% but still high by historical standards.

Tuition at two-year public colleges rose by 9%, and the price of attending a four-year private college increased by 6%.

Although data on student-aid levels for the  current academic year are not yet available, this increase in tuition raised the average net price of tuition, according to one report analyzing the survey.

In a companion report on student-aid levels in 2003-04, the College Board found that a steady increase in all the forms of financial assistance for students has helped offset rising sticker prices.

But the relatively slow growth in grant aid has caused students to rely more heavily on loans, the survey found.  While grant aid grew by 6% from 2002-03 to 2003-04, the volume of federal education loans increased by 13% after adjusting for inflation.  During that period, borrowing from private lenders increased by 43%.

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