Amount families actually pay at our colleges remains stable
Looking at what families of first-year students are paying at our 17 colleges after state, federal and institutional aid is subtracted — the average amount in 2012-13 for tuition and fees was $14,469 (the most recent year for which these data are available). This continues a stable trend for “net” tuition and fees.
In fact, when adjusted for inflation, the most recent net tuition and fees figure:
- is lower than it has been in six of the last 10 years,
- is lower than for the previous two years and
- is only 6.7% higher than it was 10 years ago with an average annual change of 0.7%.
When room and board are added to tuition and fees, inflation-adjusted comprehensive charges show a pretty similar trend, with an average annual increase of 1.4% during the last 10 years, (versus the 0.7% increase when just looking at tuition and fees).
“More families need to hear about this tuition trend at the nonprofit colleges in Minnesota; frankly, this will surprise many of them,” said Sue Luse, an independent educational consultant based in Eagan. “Yes, parents understand that these nonprofit colleges can be a good fit for their students. But they also need to be reminded about how these colleges are striving to stay affordable.”