On October 22, 2007, Collegeboard published their annual reports on “Trends in College Pricing” and “Trends in Student Aid”.
Major findings:
- At public four-year institutions, in-state tuition and fees were up 6.6% for the academic year 2007-2008 and now average $6,185 (up $381). Average total charges (room and board, tuition, fees) increased 5.9% to $13,589. Average full-time students receive about $3,600 in grants and tax benefits. Tuition and fees for out-of-state students increased 5.5% to $16,640. Average total charges are $24,044.
- At private four-year nonprofit institutions, tuition and fees increased by 6.3% to an average $23,712. Average total charges are $32,307 in 2007-08, an increase of 5.9%. Average full-time students at private colleges receive about $9,300 in grants and tax benefits.
- Student Aid: 74% of full-time undergraduates received some form of financial aid. Of the $97.1 billion in financial aid, 40% were federal grants and 21% grants from colleges and universities. Private loans made up 24% of total education loans.
Links to the press release and the full-texts of the reports are available at:
Press release
Trends in College Pricing 2007 (.pdf/547K):
Trends in Student Aid 2007 (.pdf/1.26MB):
