Go to Top

Is College Becoming Affordable?

Is College Becoming Affordable?

Not exactly, but there is some good news: Graduation Cap sm this year’s average tuition increase for public schools was just 2.9%, continuing a pattern of slowing growth (chart).

Tuition Increases 3-Year

Private school tuition increased 3.8%, according to the College Boards’ Trends in College Pricing 2013, also a slower rate of growth.

It’s important to understand that very few students pay the published tuition price.  Tuition pricing is used as a kind of prestige indicator by schools:  schools set high tuition prices to imply high quality education.  And, parents feel good about getting a great discount on that price.

In fact, Roger Williams University commissioned a study to find out whether parents preferred:

A)  tuition of $36,000 discounted to $23,000  or

B) tuition of $23,000 with no discount

By 2-to-1 parents preferred A) the higher tuition, higher discount.

So while tuition is still high, especially at private schools, it may be leveling off.  And be prepared to haggle for the best “deal.”  If a school really wants a student, the price will reflect it.

Massachusetts public school tuition is about $11,000, ranking as the 11th most expensive in the country.