College tuition has been rising steadily for decades. Average tuition rose by more than 8 percent in 2012 and now tops $5,000 a year, a record high, according to a new report from the State Higher Education Officers Association, CNN Money reports:
Average tuition costs—the amount students paid in tuition and fees after state and institutional aid was taken into account—rose by 8.3% to an average of $5,189 in the 2011-12 school year, the State Higher Education Executive Officers Association reported. In the previous academic year, students paid an average of $4,793.
At the same time, state and local funding for operating expenses, research and student aid fell by 9% to $5,896, the lowest level in 25 years, said association president Paul Lingenfelter.