Prices are falling during the current recession, so it would make sense that college costs are falling, too. Right?
Not so fast.
According to a report released by the College Board, average tuition for a four-year public college rose 6.5 percent since last year, to $7,020 (including fees). Tuition for private colleges ticked up 4.4 percent, to $26,273.
“Given the financial hardship of the country, it’s simply astonishing that colleges and universities would have this kind of increases,” says Patrick Callan, president of the National Center for Public Policy and Higher Education. “It tells you that higher education is still a seller’s market. The level of debt we’re asking people to undertake is unsustainable.” (The New York Times)
