The annual cost of attendance — which includes tuition, fees, housing, meals, books, transportation, and other expenses — surpassed the six-figure mark.
Higher education analyst Jeff Selingo said the milestone reflects a long-term trend of rising college prices that is beginning to test families’ willingness to pay.
“We have been moving toward this six-figure price tag for a long time, and now we are here — and for a lot of people that feels significant,” Selingo said.
The rising costs are also influencing enrollment decisions. Data from the National Student Clearinghouse Research Center show undergraduate enrollment continues to grow modestly, with gains concentrated at community colleges and four-year public universities.
“There is a group of institutions that used to be able to command increasing their price without a problem, and now they are finding students and families pushing back,” Selingo said.
Despite the headline-grabbing sticker prices, education experts note that many students pay substantially less than the advertised cost because of institutional aid.
“The data tell a clear story: Don’t rule out a private college due to its sticker price, because odds are very good that you will receive a grant from that school,” NACUBO President and CEO Kara Freeman said in a statement.
A separate Sallie Mae report, “How America Pays for College,” found families typically cover only about half of college expenses through income and savings, with scholarships, grants, and student loans accounting for much of the remainder.
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Source: Black Enterprise
