We’re way into infographics here at USDemocrazy. We’re also into college. Here’s an infographic that combines the two.
This infographic from College Board’s Trends in College Pricing (what a beach read!) takes the traditional narrative of increasing college costs and breaks it down.
Colleges publish what’s called their sticker cost. It’s like the full price, without the coupon, special sale, or promotion code. But what students actually end up paying is called the net cost – once the coupons (read: scholarships), discounts (read: grants), and promotion codes (read: student loans).
As the reporters at NPR’s Planet Money explained,
The sticker price has gone way up (no surprise). But, because the value of grants and scholarships has also grown, average net price has grown much more slowly. In fact, in the past five years, average net price at private colleges has actually fallen.
Another highlight from College Board’s report…
Between 2006-07 and 2011-12, the average net tuition and fees that in-state students pay at public four-year institutions, after taking grant aid from all sources and federal education tax credits and deductions into consideration, increased at an average rate of 1.4% per year beyond inflation, compared to 5.1% per year for published prices.
So while college costs are increasing for sure – they might not be by as much as we think at first glance. But this is all dependent on continuing increases in aid proportionate to rising college costs. And with state and federal governments slashing budgets left and right, students might not be able to count on this aid.
What do you think? Will there continue to be a cushion between the sticker price for college and the net price? How do you think the net price differ depending on other factors?