College costs top inflation, even with financial aid

Kylie Lacey's picture
Monday, June 23, 2014

Despite widespread increases in financial aid, the out-of-pocket cost to attend most of the top private colleges in Massachusetts has risen sharply since the end of the recent recession, even as family incomes have stagnated, according to a review by The Boston Globe.

The colleges’ median annual “net price” — what families pay per academic year after factoring in financial aid and grants — rose by 10.5 percent, to $29,481, between 2008 and 2013, the most recent year for which data were available. The review looked at nearly three dozen private institutions across the state and was based on statistics provided to the US Department of Education.

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