Out-of-Pocket Net Price for College Still on the Rise NCES Report Finds
April 30, 2014
For full-time, full-year undergraduates attending four-year private nonprofit colleges and universities, the average "out-of-pocket" net price grew from $16,700 in 1999-2000 to $18,100 in 2011-12, according to a new report from the Department of Education's National Center for Education Statistics. Net prices at four-year public institutions rose at an even faster rate, climbing from $10,100 to $11,800 during the same time frame. Two-year public colleges saw relatively moderate increases. The out-of-pocket costs for full-time students at these institutions rose 5 percent, from $9,400 to $9,900.
"Out-of-pocket" net price is the amount students and families must pay after all forms of financial aid (i.e., loans, grants, work-study, and other forms student aid) are received.
Out-of-pocket costs for undergraduates rose despite the fact that financial aid awards increased substantially during the period. The average amount of grant aid from all sources to students at four-year public colleges jumped 86 percent, while grant aid to those attending four-year private nonprofit schools increased 73 percent.
The results suggest that the cost of attending college is increasing at a higher rate than all forms of student financial aid.
Research and Policy Analysis Intern
- Senator Releases Survey Results on Sexual Assault
- ED Unveils 2014 College Cost Watch Lists
- Inflation-Adjusted Net Tuition Revenue at Private Institutions Flat
- ON-DEMAND: Call the Internal Consultants: Lessons from Business Practice Improvement
- ON-DEMAND: FASB's Proposed NFP Reporting Changes
- ON-DEMAND: VIRTUAL: Student Financial Services Conference
- ON-DEMAND: VIRTUAL: Higher Education Accounting Forum
- ON-DEMAND: VIRTUAL: Global Operations Support and Compliance Forum
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis