The average annual cost of attending a private four-year college increased nearly 4% to $32,307 this school year, the biggest increase since 2001, the College Board said today. Tuition at four-year public schools rose 3.8 percent to $13,589, the report said. The figures, adjusted for inflation, do not include room and board.
Vermont's Champlain College topped the list with a 39% increase, driving tuition and fees up to $22,550, Bloomberg reports. College tuition has outpaced inflation for 30 years now. "As long as the demand for college stays very high, then institutions have the market power to raise the price and pass the cost on to their customers," said an analyst.