Surprise, surprise. The cost of college continues to climb.
The College Board this week released its “Trends in College Pricing 2007,” which found tuition and fees on average have increased:
Ã¢â‚¬Â¢ 6.6 percent at in-state, public four-year institutions
Ã¢â‚¬Â¢ 5.5 percent for out-of-state students at public four-year institutions
Ã¢â‚¬Â¢ 6.3 percent at private four-year nonprofit institutions
Ã¢â‚¬Â¢ 6.2 percent at for-profit institutions
In addition, federal loans to undergrads did not keep up with inflation in 2006-07, and borrowing from private sources increased by 12 percent in inflation-adjusted dollars. Private loans made up 24 percent of total education loans in 2006-07, up from 6 percent a decade ago.