Rising College Tuition a Sign of the Good Times?
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iStock/Thinkstock(NEW YORK) — The cost of attending college rose in 2014, but at a slower rate than in the past five years, according to The College Board’s Trends in Higher Education report. Total student borrowing has also fallen 8 percent in the last year.
The report credits large increases in Pell Grants, educational aid and tax credits with lowering net prices students pay, a sign schools are receiving more money from outside sources.
The slowing costs coupled with the falling unemployment rate for college graduates, which was around 3 percent in October, appears to be signs of good news for graduates in the post recession era.
The report, however, also highlighted the rising levels of cumulative debt for student borrowers, which averages around $35,000 nationwide. Debt.org estimates that $3,000 of student debt is added to the $1 trillion total every second.
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