Tuition at public colleges rises 4.8%
October 24th, 2012
04:24 PM ET

Tuition at public colleges rises 4.8%

By Kim Clark @CNNMoney

NEW YORK (CNNMoney) - Tuition hikes, stagnant federal aid and increases in other expenses have pushed public college costs to new heights yet again this year, according to a College Board report out Wednesday.

To attend an in-state public college for the 2012-13 academic year, the average overall cost (or "sticker price") for students who don't receive any financial aid rose 3.8% to a record $22,261, according to the report.

Tuition accounted for about half of that increase. Public university tuition and fees alone rose 4.8% to $8,655. In addition, higher dorm, cafeteria, books and other expenses added significantly to the overall increase.

While about two-thirds of full-time students receive grants or federal tax breaks, many are likely to have to foot more of the bill themselves this year. The College Board's economists estimate that financial aid budgets stayed flat, leaving students less money to cover rising college costs.

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