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College Board: Cost of college goes up $400 at public institutions this fall

Eileen Ambrose

10:46 AM EDT, October 24, 2012

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The cost of in-state tuition and fees at public four-year colleges and universities has gone up by about $400, according to a new report by the College Board.

The increase is less than years past. But also in the past, federal aid more than kept pace with rising tuition, and so the average cost for students actually went down, the group said. Now, federal aid is no longer rapidly increasing.

College Board found that the majority of undergrad students paid an average of about $2,900 in tuition and fees for the 2012-2013 school year, after subtracting the typical financial aid package of $5,750.

Students attending out-of-state schools at a four-year public institution found that their tuition and fees went up an average of $833 to $21,706.

The College Board said the increases are largely due to a reduction in state funding of schools.