It’s what passes for good news on college costs these days: Private colleges and universities increased tuition 3.9 percent this fall, a rate well above overall inflation, but the smallest increase in at least four decades, and substantially lower than prices have been rising at public universities.
The figures released Thursday by the National Association of Independent Colleges and Universities highlight some of the complexities within an overall trend of rising college costs.
The list price at private colleges remains substantially higher than at publics — $29,230 this fall compared to a bit over $8,000 last year at public institutions (neither figure includes room and board).
But private colleges, which enroll about a quarter of four-year college students, typically also award more financial aid. The latest NAICU survey of 445 private colleges calculates they disbursed 6.2 percent more aid this fall than a year ago, following increases at least as large each of the previous three years.
That reduces the average net cost at private colleges, what families actually pay, to around $12,900, according to the most recent figures from the College Board, whose more comprehensive annual study of college costs is due out later this month.
Factoring in that aid, plus expanded federal aid and tax credits, net tuition and fees at private colleges actually fell 4.1 percent in inflation-adjusted terms between 2006 and 2011, according to the College Board.
“Students and families are increasingly price- and value-conscious,” said NAICU President David L. Warren. “Private college leaders are listening and working hard to keep students’ out-of-pockets costs as low as possible and provide the best value for the tuition dollar.”
