Here’s something that might seem unbelievable: The cost of attending college has actually become cheaper in the past decade.
Between the 2016-2017 and 2026-2027 academic years, the average tuition and fees declined 8.3% for in-state students at public four-year colleges and universities after adjusting for inflation, according to a new report from the College Board. The decline was even starker at public community colleges, where the average inflation-adjusted tuition and fees fell 12%.
Dialing in on this academic year, the New York-based nonprofit found that the increase in average tuition and fees was rather measured, ranging from 2.4% for students attending public two-year colleges to 3.7% for students attending private nonprofit four-year colleges. But those increases aren’t adjusted for inflation—and the Consumer Price Index rose at an annual rate of 3.7% in September, according to the most recent reading from the U.S. Bureau of Labor Statistics.
“This year’s tuition increases continue a pattern we’ve seen for more than 10 years,” Jennifer Ma, executive director of policy research at the College Board, said in a statement.
But as parents and students can attest, such trends may not feel like much consolation. For this academic year, the total price tag—inclusive of tuition and fees, housing, food, books, supplies, and transportation costs—topped $100,000 at 16 different American institutions, ranging from the University of Southern California in Los Angeles and Harvey Mudd College in Claremont, California, to the University of Chicago and New York University, according to data The Princeton Review provided to CNBC.
Some private colleges are bucking that trend, as The Wall Street Journal reported in September, by slashing tuition prices or finding other creative ways to rein in costs. The College Board similarly found that the net amount a vast majority of students are paying is far less than published prices, as grants, scholarships, and other forms of financial aid bring the figures down.
“About 70% of full-time undergraduate students receive grant aid that reduces the actual cost of attending college,” Jessica Howell, vice president of research at the College Board, said in a statement.
WHERE COSTS ARE RISING
The living expenses associated with attending college are where students are really feeling the pinch. In some cases the cost of living may even dwarf the cost of tuition and fees, tallying up to an average of nearly $18,000 this academic year for students commuting to community colleges to upwards of $21,000 for students living on campus at private nonprofit four-year colleges.
College students, like everyone else, are grappling with an affordability crisis that’s seen many institutions establish on-campus food pantries. A 2024 report from the Government Accountability Office found that nearly one in four students, or 23%, experienced food insecurity in 2020.
By and large, however, trends point to students and parents better managing the costs of higher education. The College Board’s report showed a decline in the amount of money families have borrowed to cover college costs, as well as a decline in the average cumulative debt among recipients of a bachelor’s degree.
So even though the sticker shock of tuition can be overwhelming, it’s important to understand the actual cost of attending college before making any decisions. As Howell noted, “Families need clear net price information early in the college application process.”
