Earlier this week, the National Association of Independent Colleges and Universities released information on tuition increases at private colleges and universities for the 2009-2010 academic year. While tuition is increasing on average, the good news is that the tuition increase is the lowest in 37 years.
Tuition and fees are projected to go up an average of 4.3 percent at private colleges and universities nationwide, with some colleges managing to hold their increases even lower or freeze tuition rates to help students struggling to pay for school in the current economic climate. While it still greatly outpaces inflation, it's lower than the average increase over the last 10 years, which has been around 6 percent. The survey did not address changes in the cost of room and board.
Meanwhile, private colleges are also increasing institutional grant and scholarship aid. On average, schools allocated 9 percent more to college scholarships and grants for 2009-2010 than the previous academic year.