Recent data released by College Board shows how this past year saw increases in tuition and fees at four-year institutions; public institutions faced a 2.9% increase, and private non-profit institutions saw an average increase of 3.7%. This increase becomes even more noteworthy when taken into consideration with the rise in associated costs such as room and board.
On average, the list price for tuition and fees for in-state students at public four-year colleges is $9,139. The average room and board charges are even higher at $9,804. Many institutions design financial aid packages to only cover tuition and fees, leaving students to cover room and board on their own. This is purposefully designed in order to prevent students from taking university money for allotted for room and board and spending it on something else. Students report they view room and board expenses to be as big of a deterrent to attending an institution as paying tuition and fees. Many institutions are starting to provide cost of living estimates; however, some institutions are underestimating their living cost to make attendance appear more affordable.
This all is compounded by the fact that the vast majority of students in American universities are unable to complete their degrees in four years, which was revealed in a new report by Complete College America. 81% of full-time students at public universities do not manage to graduate in four years, and, institutionally, only 50 out of more than 580 institutions saw a majority of students graduate on time. Discussions surround whether or not institutions should use six years as a benchmark rather than four; however, every additional year costs students more and more. In such a climate, programs offering shorter, yet still highly competitive, paths to degrees are likely to see an increase in enrolment, as well as institutions overseas.
To read more, view the New York Times article on longer degrees and The Chronicle of Higher Education article on increased costs of attendance.