If you have kids in your youth group preparing for college, they have some bad news: A report from the College Board last week says that tuition at public and private colleges for the 2009-10 academic year outpace inflation. At the same time, family net income has barely budged over the past decade. The spiraling cost of higher education comes at a time when institutions are reeling from the aftershocks of shrinking state aid, battered endowments, and significant budgetary pressures. The average annual in-state tuition and fees at four-year public colleges for the 2009-10 academic year is $7,020, up $229 from last year. Those numbers don’t include room and board, which adds another $8,193. (Business Week)
