Edufacts™
August 2005
College may be cheaper than you think
The steady increase of college costs has long been one of the few certainties of life — every year, a new class of first year students emerges to face ever steeper payments at the nation’s colleges and universities. This was true in academic year 2004-2005 as well: tuition at public four-year universities went up 10 percent in the U.S.
Despite this continuing increase, however, recent reports show that college students are actually paying less for tuition, fees, room, and board than it might seem. About 60 percent of full-time undergraduates receive some form of grant aid; for these students, the actual cost of attendance is less than the published cost. In 2003-04, the net amount paid by students for tuition, fees, room, and board at public two-year colleges after receiving grant aid and education tax benefits was about $2,000 less than the advertised price; at public four-year colleges, the net amount was about $3,400 less; and at private four-year colleges, the net amount was about $10,200 less.
Sources: State of Student Aid and Higher Education in Texas 2005; College Board, Trends in College Pricing 2004
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