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Private Colleges See Historically Low Tuition Increases for 2012-2013 School Year
By Catherine Groux
Posted October 05, 2012 11:00 AM
Tuition rates at private colleges saw a historically low increase.Although published tuition and fees at private, nonprofit colleges are still rising, they are not increasing as quickly as they have in the past. A new report by the National Association of Independent Colleges and Universities (NAICU) shows that in the 2012-2013 school year, tuition and fees rose by 3.9%. This is the first time this figure has fallen below 4% in at least four decades.
To keep the cost of tuition down, private colleges have implemented a variety of strategies, including the introduction of three-year bachelor's degree programs, fixed-tuition guarantees and degree partnerships with local community colleges.
"Students and families are increasingly price- and value-conscious," said NAICU President David L. Warren. "Private college leaders are listening, and working hard to keep students' out-of-pockets costs as low as possible and provide the best value for the tuition dollar."
As tuition costs see historically low increases, the amount of institutional aid available at private, nonprofit colleges is also growing. The NAICU report states that this year, there was a 6.2% increase in institutional student aid, following a 7% increase in the 2011-2012 academic year.
