16
0
Dive Brief:
- The average listed price for undergraduate college tuition rose for the 2020-21 academic year, but the increases were historically low, according to new College Board research.
- Average tuition and fees went up just over 1% for in-state students at four-year public colleges, and about 2% for students at private nonprofit colleges, before adjusting for inflation — the smallest increases in three decades, the report states. Tuition inched up by nearly 2% for in-district students at public two-year schools.
- Colleges were pressed to lower tuition prior to the pandemic, but doing so now comes with higher stakes for institutions.
Dive Insight:
The pandemic has cut deep into colleges’ budgets, as most returned or lost auxiliary revenue in the spring and took on vast new expenses as they prepped to reopen campuses and build out online infrastructure for the fall.
Yet a vast majority of colleges haven’t significantly raised tuition, which is reflected in the College Board’s Trends in College Pricing and Student Aid report. Many colleges nationwide reduced sticker prices for the current academic year, and several colleges have already done so for the coming one. Though that doesn’t mean students will pay less.
tags:
This Month