Featured Reports

College Trends in College Pricing and Student Aid

8 November 2018 In Featured Reports

College Trends in College Pricing and Student Aid

By Yesenia Ayala

The College Board recently released their annual higher education trends reports. The reports provide the most recent data and trends in college pricing and student aid and highlight statistics related to enrollment trends, tuition and fees associated costs, financial aid assistance, and student loan borrowers.

Among the findings:

  • Overall, full time enrollment in public colleges and universities in the United States increased from 9.4 million to 10.4 million.
    • However, public two-year institutions experienced a 12% decline in enrollment in the fall of 2016 in comparison to the fall of 2010 and for-profit colleges enrolled about 840,000 fewer students in the fall of 2016 than in the fall of 2010.
  • On average, tuition and fees increased across all types of institutions:
    • The average in-state tuition and fees at a public four-year institution increased by 2.5%-  from $9,980 in 2017-18 to $10,230 in 2018-19.
    • Average published tuition and fees at private non-profit institutions rose by 3.3%- from $34,700 in 2017-18 to $35,830 in 2018-19.
    • Average published in-district tuition and fees at public two-year colleges increased by 2.8%- from $3,560 in 2017-18 to $3,660 in 2018-19.
    • The average tuition and fees for a student attending a for-profit sector institution in 2018-2019 was $14,000.
  • In 2017-2018, full-time undergraduate students received an average of $14,790 in financial aid.
    • The breakdown (on average) is as follows: $8,970 in grants, $4,510 in federal loans, $1,240 in education tax credits and deductions, and $70 in Federal Work-Study.
  • Between 2007-2008 and 2017-2018, overall grant aid for undergraduate students increased by 56%.
    • Between 2012-2013 and 2017-2018, institutional grant aid increased by 27% (by$10.4 billion dollars).
    • Students at public four-year institutions received an average grant award of $7,300 and students at a public two-year institution received an average grant award of $4,680 a year.
  • Pell grant disbursements declined by $28.2 billion in 2017-2018. The average award for a Pell-grant recipient was $4,010 in 2017-2018.
  • The average student loan debt varied by institution type:
    • In 2016-2017, 59% of graduates from public and private non-profit institutions owed an average of $28,500 in debt.
    • The average student debt among graduates of public four-year institutions and private institutions rose 3% since 2011-2012.
    • 11% of 2015-2016 bachelor’s degree recipients borrowed at least $50,000 in loans.
  • 29% of federal borrowers are enrolled in income-driven repayment plans and 17% of all borrowers are in default.
  • The average amount of federal student loans that students borrowed declined in 2017-18 from $5,830 in 2010-11 to $4,510 in 2017-18 (adjusted for inflation).