Trends In College Pricing
Trends in Higher Education Series
2007
Trends in
College Pricing
Executive Summary
Tuition and Fees and Room and Board
• Over the past decade, total charges, including room and board
in addition to tuition and fees, rose at an average rate of 2.6
Tuition and fees constitute about two-thirds of the total budget for
percent per year after inflation at private four-year colleges and
students enrol ed in private four-year col eges, but are just over a third of
universities, and 3.5 percent at public four-year institutions.
the total budget for in-state students in public four-year col eges and less
than 20 percent of the total budget for public two-year col ege students.
• In 1995, 2 percent of full-time undergraduate students were
enrolled in for-profit institutions. By 2005, that share had risen
• Average published tuition and fees at public two-year colleges in
to 7 percent of full-time undergraduate and 8 percent of all full-
2007-08 are $2,361, $95 (4.2 percent) higher than in 2006-07.
time postsecondary students.
• Average published tuition and fees for in-state students at public
four-year colleges and universities in 2007-08 are $6,185, $381 What Students Actually Pay
(6.6 percent) higher than they were in 2006-07. Average total
charges, including tuition and fees and room and board, are The net price of col ege is defined as the published price less the average
$13,589, 5.9 percent higher than a year earlier.
grant aid and tax benefits students receive.
• Average published tuition and fees for out-of-state students at • On average, full-time students receive about $9,300 of aid per
public four-year colleges and universities in 2007-08 are $16,640,
year in the form of grants and tax benefits in private four-year
$862 (5.5 percent) higher than they were in 2006-07. Average
institutions, $3,600 in public four-year institutions, and $2,040
total charges are $24,044, 5.4 percent higher than a year earlier.
in public two-year colleges.
• Average published tuition and fees at private four-year colleges • Net price in public four-year colleges fell in inflation-adjusted
and universities in 2007-08 are $23,712, $1,404 (6.3 percent)
dollars between 1997-98 and 2000-01, but has risen rapidly since.
higher than they were in 2006-07. Average total charges,
Net price in public two-year colleges fell from 1997-98 to 2002-03
including tuition and fees and room and board are $32,307, 5.9
and has increased since.
percent higher than a year earlier.
• Net tuition and fees in private four-year colleges and universities
• Average published tuition and fees at for-profit institutions in
have grown at about the same rate as published tuition and fees
2007-08 are $12,089, $703 (6.2 percent) higher than in 2006-07.
over the decade from 1997-98 to 2007-08. However, the published
price has increased by $5,889 in 2007 dollars, compared to an
Variation in Tuition and Fees
increase of about $3,600 in the net price.
• Net tuition and fees required a lower percentage of income for
Average charges do not describe the circumstances of most col ege
low-income families with students enrolled full-time at public
students. In addition to the fact that, as described below, many
two-year and four-year colleges in 2003-04 than in 1992-93. The
students pay less than the published price, there is considerable
share of income for similar students remained constant at private
variation across institutions, even within sectors.
nonprofit and rose at for-profit institutions.
• Thirty-two percent of full-time undergraduates in public and • Between 1992-93 and 2003-04, net price as a percentage of family
private four-year colleges and universities are enrolled in
income rose for lower-middle-income students in all sectors
institutions with published tuition and fees of less than $6,000
other than public two-year colleges.
and 22 percent are enrolled in institutions with published tuition
and fees of $21,000 or higher.
Institutional Finances
• In-state public four-year tuition and fees range from an average
of $5,018 in the South to an average of $8,116 in New England. Revenue and expenditure patterns differ considerably across and
The lowest price colleges are public two-year colleges in the West, within sectors.
with average tuition and fees of $1,289; the highest price colleges • State and local appropriations per student were $6,695 in
are private four-year colleges in New England, with average
2005-06, 2 percent higher in inflation-adjusted dollars than the
tuition and fees of $30,154.
1995-96 level, but 4 percent lower than in 1985-86.
• Twenty percent of full-time in-state students enrolled in public • Gross tuition and fees constitute 54 percent of revenues at private
four-year colleges and universities faced increases in tuition and
four-year undergraduate colleges, compared to 34 percent at
fees of less than 3 percent in 2007-08, while 22 percent faced
private doctoral universities. Tuition and fees constitute 33
increases of 9 percent or more.
percent of revenues at public four-year undergraduate colleges
and 26 percent at public doctoral universities.
Long-Run Trends
• Expenditures on instruction average about $5,000 per student at
Prices of public four-year col eges and universities rose more rapidly
public four-year undergraduate colleges and $9,400 per student at
between 1997-98 and 2007-08 than in the preceding decade, but prices
public doctoral universities. Private colleges spend about $6,400
of private four-year and public two-year institutions did not.
and private doctoral universities spend about $16,300 per student
on instruction.
• Over the past decade, published tuition and fees rose at an
average rate of 2.9 percent per year after inflation at private four- • The number of staff members per student declined in both public
year colleges, 4.4 percent at public four-year institutions, and
and private colleges and universities between 1995 and 2005,
1.5 percent per year at public two-year colleges. The difference
after increasing over the previous 20 years. The proportion of
between average tuition and fees at private four-year and public
faculty members who were full-time and tenured declined from
four-year colleges increased by $3,726 (in 2007 dollars) and the
39 percent in 1987 to 28 percent in 2003.
difference between average tuition and fees at public four-year and • Endowment wealth is highly concentrated among a small number
public two-year colleges increased by $1,828 (in 2007 dollars).
of institutions in both the public and private sectors.
2
Trends in Higher Education Series
Contents
Executive Summary ..............................................................................2
Tuition and Fees by State ....................................................................15
Introduction ...........................................................................................4
Net Price: Public Institutions .............................................................16
Tuition and Fees, Room and Board, and Total Charges, 2007-08 ....6
Net Price: Private Four-Year Institutions ........................................17
Total Student Budgets, 2007-08 ...........................................................7
Net Price Relative to Income: Public Institutions ..........................18
Variation in Tuition and Fees, 2007-08 ..............................................8
Net Price Relative to Income: Private Institutions .........................19
Variation in Tuition and Fee Increases, 2007-08 ..............................9
Endowments .........................................................................................20
Tuition and Fee Levels over Time .....................................................10
Faculty and Staff ..................................................................................21
Tuition and Fee and Room and Board Charges over Time ..........11
Enrollment Trends ...............................................................................22
Changes over Time in Tuition and Fees and
Institutional Revenues: Public Appropriations ..............................23
Total Charges ..................................................................................12
Institutional Revenues ........................................................................24
Regional Variation in Charges ..........................................................13
Institutional Expenditures .................................................................25
Student Budgets by Region .................................................................14
Notes and Sources ................................................................................26
Figure 1: Distribution of Ful -Time Undergraduates at Four-Year Institutions by Published Tuition and Fees, 2007-08
$33,000 and Over
6%
$30,000 to $32,999
3%
$27,000 to $29,999
3%
$24,000 to $26,999
5%
ees $21,000 to $23,999
5%
$18,000 to $20,999
4%
$15,000 to $17,999
5%
$12,000 to $14,999
5%
T
uition and F
$9,000 to $11,999
8%
$6,000 to $8,999
24%
$3,000 to $5,999
31%
Under $3,000
1%
0%
10%
20%
30%
40%
50%
Percentage of Full-Time Undergraduates
Notes: For out-of-state students enrolled in public four-year colleges, the nonresident premium has been added to in-state tuition and fees. Some out-of-
state students actually pay lower prices because of reciprocity agreements, which allow students from neighboring states to pay less than the full out-of-
state price. The distribution of students across institutions is based on the latest available enrollment data, which are for 2006-07.
Source: Annual Survey of Col eges, The College Board, New York, NY.
Among full-time students enrolled in public or private four-year colleges and universities, 32 percent
attend institutions with tuition and fees below $6,000. Twenty-two percent attend institutions with
tuition and fees of $21,000 or higher.
Trends in College Pricing 2007
3
Introduction
This report, based on the College Board’s Annual Survey of Col eges,
In considering the impact of price increases, it is accumulated
provides up-to-date information on tuition and other expenses patterns, not one-year changes, that determine current charges.
associated with attending institutions of postsecondary education Relatively low prices may be subject to high percentage increases
in the United States. The Annual Survey is distributed to nearly 4,000 without causing significant difficulties, while even freezing high
postsecondary institutions across the country, collecting a wealth prices does not put them within reach of the typical student. Current
of data on enrollment, admissions, degrees and majors, tuition, prices and dollar increases, not percentage increases, best measure
financial aid, and other aspects of undergraduate education.
the impact on students and families.
Each fall, the College Board releases the survey results on how
Moreover, tuition and fees tell only part of the story. For many
much colleges and universities are charging undergraduate students students, it is the additional costs associated with college attendance,
in the new academic year. Simultaneously, we release Trends in including room and board, books, and other expenses, as well as
Student Aid. Taken together, the companion reports, Trends in forgone earnings, that present the greatest financial barriers.
Col ege Pricing and Trends in Student Aid, tell much about the
financing of postsecondary education in America.
Scope of the Report
Earlier this year, we issued the 2007 edition of Education Pays:
The Benefits of Higher Education for Individuals and Society. Trends in Col ege Pricing 2007 includes information on:
This publication updates the original 2004 report and provides • Changes in tuition and fees, room and board, and other costs of
additional information on the economic and social benefits of
attending college both this year and over time
higher education. It also continues our focus on the distribution of • The distribution of students across colleges charging different
these benefits by examining both the progress and the persistent
prices
gaps in participation in postsecondary education.
• Variation in college charges across states and regions of the
How College Prices Are Changing
United States
• The net price of college after considering grant aid and tax
The data in this report confirm the widespread perception that
benefits
published college prices are rising more rapidly than the prices of
other goods and services. This is not a new phenomenon, but has • The distribution of endowment wealth among both public and
persisted over the entire 30-year period documented here. Annual
private colleges and universities
percentage increases in tuition and fees consistently receive most of • Faculty and staffing patterns
the attention, but a number of other aspects of college pricing have a • Patterns of participation in higher education by sector and part-
greater impact on access and affordability. In particular, about half
time or full-time status
of all college students and two-thirds of those enrolled full-time
receive grant aid that lowers the net price they actually pay. Many • Changes over time in state and local appropriations
students do pay the published prices, and many more students and • Patterns of institutional expenditures and sources of revenue
their parents believe they will have to pay the published prices
This report contains information that can provide insight into the
because they are unaware of the sources and amounts of student aid underlying causes of rising tuition and fees, but it does not attempt
available. However, increases in published prices that are matched to provide a comprehensive explanation. A thorough analysis of this
by increases in grant aid do not reduce affordability. Average net vital issue would require better data than those available to us on the
prices actually declined in inflation-adjusted dollars in the late expenditure patterns of colleges and universities over time, as well
1990s and the early part of the current decade, but have been rising as careful empirical analysis of all of the contributing forces. It is
since.
clear that the efficiency of campus operations, changes in nontuition
Changes in average published prices or in average net prices revenues, the prices of the goods and services educational institutions
do not necessarily describe the circumstances facing individual purchase, the nature and extent of the services and facilities
students. There is considerable variation in prices across sectors, provided, the academic preparation of the students who enroll, the
and across states and regions, as well as among institutions within level of demand for particular institutions, and competition among
these categories. American college students have a wide variety of institutions all contribute to the rate of price increase. If college
educational institutions from which to choose, and these come with education is to become more affordable for more students, institutions
many different price tags. One of the problems many students face will have to find ways to offer high-quality higher education in a more
is how to make sense of all of the options and the complex pricing cost-effective manner, and state and federal governments will have to
structures.
improve their systems for supporting both postsecondary institutions
The scenario is even more complicated because of the wide variety and the students they educate.
of student aid programs and policies, and because of changes over
time in the distribution of financial aid among students. A decline Enrollment Patterns
in the average net price at public four-year colleges in a particular
state or at an individual private institution should make education Trends in Col ege Pricing 2007 presents detailed data on public two-
more affordable. But if at the same time, grant aid migrates from year and four-year and private four-year nonprofit institutions for
low- and moderate-income students to wealthier student-athletes the 2007-08 academic year. Comparable information about the
or merit scholars who have less financial need, more students will growing for-profit sector of postsecondary education, which enrolls
actually struggle to pay for college.
about 7 percent of all full-time undergraduate students, is not
available. We do provide an estimate of the average charges at for-
4
Trends in Higher Education Series
profit institutions, but because of the relatively small sample of those A Note on Trends Data
institutions from which we are able to collect data, it is important to
interpret that information with caution.
While the information reported here provides a best approximation
Tuition and fees and other charges reported in Trends apply of trends in college charges over time, we would caution readers about
to full-time undergraduate students. Almost 40 percent of all placing too much reliance on either precise dollar amounts or precise
undergraduates and about 60 percent of those attending public annual percentage changes. Each year we revise the average prices
two-year colleges are enrolled part-time. Because of the variety calculated the previous year to account for corrected data we receive
of enrollment and pricing patterns, it is not possible to provide from institutions and to provide an enrollment-weighted average
estimates of the charges facing these students that would be as based on the most recent available data on the number of full-time
accurate as the information we provide about full-time students. students attending each institution. If over time, increasing numbers
Data on full-time charges provide the best basis for comparison of students were to choose to enroll in the lower-price institutions
both over time and across sectors. Many institutions charge within a sector, our measure of the average price increase would
different prices depending on year or program of study, even be lower than if enrollment were stable. Details relating to this
for full-time students. The prices included in Trends represent methodology and to other technical issues and data reliability can be
best estimates of average prices for all full-time undergraduate found at the end of the report, in the Notes and Sources section.
students.
As always, we continue to update previously reported statistics
Another important aspect of estimating the price of a college when better data become available. Therefore, this update replaces
education is that many students take longer than two years to earn previous Trends in Col ege Pricing publications. Both PDF copies of
an associate degree or longer than four years to earn a bachelor’s the publications and PowerPoint files containing individual slides
degree. An accurate comparison of the price of one institution or for all of the tables and graphs are available on the College Board’s
type of institution to another involves incorporating the expected Web site (www.collegeboard.com/trends). Please feel free to use
time to degree in addition to the annual price of attendance. The these slides with proper attribution. Excel files containing historical
prices we report are for one academic year.
data and some of the data underlying the graphs included in the
reports are also available online.
Tuition and Fees Versus Total Charges
Acknowledgments
Some of the graphs and tables in the report focus only on
tuition and fees, but we also report room and board charges for This report was authored by College Board senior policy analyst
residential students, living costs for commuter students, and Sandy Baum and consultants David Brodigan and Jennifer Ma, with
other components of student budgets. Because tuition and fees immeasurable assistance from Patricia Steele.
are set by either institutions or state government bodies and
This publication would not have been possible without the
are relevant for all enrolled students, they are the best overall cooperation and support of many people at the Col ege Board, including:
indicator of the price of college. However, whether students live consultant Kathleen Payea; Kathleen Little and Anne Sturtevant of
on or off campus, they all must also pay for housing and food, the Enrol ment division; Tom Rudin, Sal y Mitchel , and Eleanor
buy books and supplies, and cover transportation and other Vogelsang of the Washington Office; Erin Thomas, Caitlin McClure,
basic living costs. Even those who receive grant aid sufficient to Joanne Mul ens, Joe Brown, Anne Sussman, Kathryn Diminnie, and
cover tuition and fees may struggle to cover living expenses. It the staff of the Marketing & Publication Services division; and Sandra
is not so much the prices charged by institutions that create the Riley of the Communications & Marketing division.
burden for these students, but the very real costs they incur to
support themselves and their families while they are in school. It
is also important to remember that for many students, the largest
component of the cost of being a student is actually the result
of devoting time to schooling rather than to the labor market.
Forgone earnings are not addressed in this report.
Trends in College Pricing 2007
5
Tuition and Fees, Room and Board, and
Total Charges, 2007-08
Table 1: Average Published Charges for Undergraduates, 2007-08 (Enrol ment-Weighted)
Tuition and Fees
Room and Board
Total Charges
$
%
$
%
$
%
Sector
2007-08
2006-07
Change
Change
2007-08
2006-07
Change
Change
2007-08
2006-07
Change
Change
Public Two-Year
$2,361
$2,266
$95
4.2%
—
—
—
—
—
—
—
—
Public Four-Year
In-State
$6,185
$5,804
$381
6.6%
$7,404
$7,033
$371
5.3%
$13,589
$12,837
$752
5.9%
Public Four-Year
Out-of-State
$16,640
$15,778
$862
5.5%
$7,404
$7,033
$371
5.3%
$24,044
$22,811
$1,233
5.4%
Private Four-Year
Nonprofit
$23,712
$22,308
$1,404
6.3%
$8,595
$8,189
$406
5.0%
$32,307
$30,497
$1,810
5.9%
For-Profit
$12,089
$11,386
$703
6.2%
—
—
—
—
—
—
—
—
— Sample too small to provide meaningful information.
Note: Prices reported for 2006-07 have been revised and may differ from those reported in Trends in Col ege Pricing 2006.
Source: Annual Survey of Col eges, The College Board, New York, NY.
Enrol ment-weighted tuition and fees are derived by weighting the price charged by each institution in 2007-08 by the number of ful -time students enrol ed
in 2006-07. Public four-year in-state charges are weighted by total 2006-07 ful -time enrol ment in each institution, including both in-state students and
out-of-state students, who pay an additional nonresident charge. Out-of-state tuition and fees are computed by adding the average in-state price to the out-of-
state premium weighted by the number of ful -time out-of-state students enrol ed at each institution. Room and board charges are weighted by the number of
students residing on campus.
In 2007-08, average
• Table 1 shows average prices by sector. The average published tuition and fees for al ful -
published tuition and fees
time undergraduate students are $9,347, and the average published tuition and fees for al
for in-state students at
ful -time undergraduates enrol ed in four-year public and private col eges and universities
are $11,642.
public four-year colleges • In 2007-08, average published tuition and fees for out-of-state students enrol ed in
and universities are
public four-year col eges and universities are $16,640, $862 (5.5 percent) higher than in
$6,185, $381 (6.6 percent)
2006-07. Fourteen percent of ful -time students in this sector are out-of-state.
higher than in 2006-07.
• Average published tuition and fees at private four-year col eges are $23,712 in 2007-08,
Average published tuition
$1,404 (6.3 percent) higher than in 2006-07.
and fees for full-time
• Published tuition and fees for ful -time students in for-profit institutions in 2007-08 are
public two-year college
$12,089, $703 (6.2 percent) higher than in 2006-07. (These figures should be interpreted
with caution because they are based on only about 57 percent of the sector’s enrollments.)
students are $2,361,
$95 (4.2 percent) higher
• Total published charges, including room and board in addition to tuition and fees,
increased 5.9 percent for in-state students at public four-year institutions and for students
than a year earlier.
at private four-year nonprofit col eges. Average total charges rose 5.4 percent for out-of-
state public four-year col ege students.
• The published prices reported here are the best estimates of the average prices charged
to ful -time undergraduates. Pricing patterns are increasingly complex as more institutions
are posting different prices for students in different years of study and/or different
programs. Some private institutions, as wel as the state of Colorado, grant virtual y al
students a discount from the published tuition.
Also important:
• The prices cited here are not representative of the amount students actual y pay. Almost two-thirds of undergraduate students enrol ed
ful -time receive grants that reduce the actual price of col ege. In addition, many states and institutions grant tuition waivers to groups of
students such as dependents of employees, veterans, teachers, or others. See Figures 8a and 8b and Figures 9a and 9b for estimates
of net prices paid by students and Trends in Student Aid 2007 for details about student aid.
• It takes students an average of more than six years in public four-year col eges and more than five years in private four-year col eges to
earn a bachelor’s degree. (Trends in Col ege Pricing 2006)
• Part-time students pay lower tuition and fees than those reported here. In fal 2005, 61 percent of students enrol ed in public two-year
col eges were part-time, as were 27 percent in public four-year, 26 percent in private nonprofit four-year, and 18 percent in for-profit
institutions. (Digest of Education Statistics 2006, Table 182)
6
Trends in Higher Education Series
Total Student Budgets, 2007-08
Table 2: Average Estimated Undergraduate Budgets, 2007-08 (Enrol ment-Weighted)
Sector
Tuition and
Books and
Room and
Total
Fees
Supplies
Board
Transportation
Other
Expenses
Expenses*
Public Two-Year
Resident
$2,361
$921
—
—
—
—
Commuter
$2,361
$921
$6,875
$1,270
$1,699
$13,126
Public Four-Year
Resident
$6,185
$988
$7,404
$911
$1,848
$17,336
Commuter
$6,185
$988
$7,419
$1,284
$2,138
$18,014
Out-of-State
$16,640
$988
$7,404
$911
$1,848
$27,791
Private Four-Year
Resident
$23,712
$988
$8,595
$768
$1,311
$35,374
Commuter
$23,712
$988
$7,499
$1,138
$1,664
$35,001
— Sample too small to provide meaningful information.
* Average total expenses include room and board costs for commuter students, which are average estimated living expenses for students living off campus
but not with parents.
Note: Estimates of individual budget items are based on reporting by institutional financial aid offices.
Source: Annual Survey of Col eges, The College Board, New York, NY.
Enrol ment-weighted tuition and fees are derived by weighting the price charged by each institution in 2007-08 by the number of ful -time students enrol ed
in 2006-07. Public four-year in-state charges are weighted by total 2006-07 ful -time enrol ment in each institution, including both in-state students and
out-of-state students, who pay an additional nonresident charge. Out-of-state tuition and fees are computed by adding the average in-state price to the out-of-
state premium weighted by the number of ful -time out-of-state students enrol ed at each institution. Room and board charges are weighted by the number of
students residing on campus.
Figure 2: Average Estimated Undergraduate Budgets, 2007-08 (Enrol ment-Weighted)
$40,000
$35,374
et $35,000
$30,000
$27,791
e Budg $25,000
$20,000
$17,336
OTHER EXPENSES
aduat
gr $15,000
$13,126
TRANSPORTATION
$10,000
ROOM AND BOARD
Under
$5,000
BOOKS AND SUPPLIES
$0
TUITION AND FEES
Public Two-Year
Public Four-Year
Public Four-Year
Private Four-Year
Commuter
In-State Resident
Out-of-State Resident
Resident
Tuition and fees constitute about two-thirds • Many states have reciprocity agreements with neighboring
of the total budget for full-time students
states that al ow students to pay less than the standard out-of-
living on campus at private four-year
state tuition and fees.
institutions and 60 percent for out-of-state
• Average public two-year tuition and fees are only 38 percent of
the charges at public four-year col eges, but the total student
students at public four-year colleges, but
expense budget is three-quarters that of public four-year
only a third of the budget for in-state public
col ege students.
four-year students and less than 20 percent • Average in-state tuition and fees at public four-year col eges are
for public two-year college students.
about a quarter of the charges at private four-year institutions,
but the total student expense budget is about half that of
private four-year col ege students.
Also important:
Most student aid funds, including Pel Grants, Stafford Loans, and campus-based aid, can be used to cover al education-related expenses,
including books, supplies, transportation, and personal expenses, in addition to tuition and fees and room and board. However, federal tax
credits and deductions are limited to the amount students or families pay in tuition and fees.
Trends in College Pricing 2007
7
Variation in Tuition and Fees, 2007-08
Figure 3: Distribution of Ful -Time Undergraduates at Public and Private Four-Year Institutions by Published
Tuition and Fees, 2007-08
Public Four-Year
Private Four-Year
$36,000 and Over
5%
$33,000 to $35,999
14%
$30,000 to $32,999
8%
$27,000 to $29,999
8%
$24,000 and Over
1%
$24,000 to $26,999
17%
$21,000 to $23,999 2%
ees
ees $21,000 to $23,999
12%
$18,000 to $20,999 2%
$18,000 to $20,999
11%
$15,000 to $17,999
3%
$15,000 to $17,999
9%
T
uition and F
T
uition and F
$12,000 to $14,999
5%
$12,000 to $14,999
6%
$9,000 to $11,999
10%
$9,000 to $11,999
2%
$6,000 to $8,999
34%
$6,000 to $8,999
2%
$3,000 to $5,999
43%
$3,000 to $5,999
6%
Under $3,000 2%
Under $3,000
0%
10% 20% 30% 40% 50% 60%
0%
10% 20% 30% 40% 50% 60%
Percentage of Full-Time Undergraduates
Percentage of Full-Time Undergraduates
Notes: For out-of-state students enrolled in public four-year colleges, the nonresident premium has been added to in-state tuition and fees. Some out-of-
state students actually pay lower prices because of reciprocity agreements. The distribution of students across institutions is based on the latest available
enrollment data, which are for 2006-07. Percentages may not sum to 100 due to rounding.
Source: Annual Survey of Col eges, The College Board, New York, NY.
Figure 1 shows the distribution of ful -time undergraduates at all four-year col eges and universities by tuition and fees charged. Figure 3 shows separate
distributions for ful -time undergraduates at public and private institutions.
Forty-three percent of public four-
• As reported in Table 1, the average in-state tuition and fees at public
year college students are enrolled in
four-year col eges and universities are $6,185; the average tuition and
institutions with published tuition
fees for out-of-state public four-year col ege students are $16,640. The
overal median price is $6,320.
and fees, including applicable out-of- • Ten percent of ful -time private col ege students are enrol ed at
state charges, between $3,000 and
institutions charging less than $12,000, and 27 percent are enrol ed
$6,000. At private four-year colleges
at institutions charging $30,000 or more. Median tuition and fees are
and universities, there is a much
$24,390.
wider range of tuition and fees.
• Although tuition and fees at private col eges and universities are
significantly higher on average than those at public four-year institutions,
8 percent of ful -time public four-year students are enrol ed in
institutions charging $15,000 or more, while 16 percent of ful -time
private four-year students are enrol ed in institutions charging less than
$15,000.
8
Trends in Higher Education Series
Variation in Tuition and Fee Increases,
2007-08
Figure 4: Distribution of Ful -Time Undergraduates at Public and Private Four-Year Institutions by Percentage and
Dol ar Increase in Published Tuition and Fees, 2007-08
Percentage Increase
Dollar Increase
<1%
14%
21% or More
$2,000 or More
2%
14%
$1,800 to $1,999
1%
18 to 20.9%
0%
1%
14%
$1,600 to $1,799 1%
0%
0%
15 to 17.9%
12%
$1,400 to $1,599
2%
1%
0%
12%
2%
$1,200 to $1,399
12 to 14.9%
1%
6%
10%
$1,000 to $1,199 1%
7%
9 to 11.9%
8%
11%
$800 to $999
5%
36%
5%
6 to 8.9%
$600 to $799
32%
9%
4%
47%
$400 to $599
3 to 5.9%
18%
25%
5%
$200 to $399
42%
6%
Under 3%
3%
20%
Under $200
22%
0%
10%
20%
30%
40%
50%
60%
0%
10%
20%
30%
40%
50%
60%
Percentage of Full-Time Undergraduates
Percentage of Full-Time Undergraduates
PRIVATE FOUR-YEAR PUBLIC FOUR-YEAR
Notes: Only in-state tuition and fees are included for students enrolled in out-of-state public institutions. These students also pay a nonresident fee,
as reported in Tables 1 and 2. The distribution of students across institutions is based on the latest available enrollment data, which are for 2006-07.
Percentages may not sum to 100 due to rounding.
Source: Annual Survey of Col eges, The College Board, New York, NY.
Twenty percent of full-time
• Forty-seven percent of ful -time undergraduates at private four-year
undergraduates at public four-year
col eges and universities attend institutions where the 2007-08 increase
colleges and universities attend
in tuition and fees was between 3 percent and 6 percent.
institutions that raised their in-
• Twenty-five percent of ful -time undergraduates at private four-year
col eges and universities attend institutions that raised their tuition
state tuition and fees by less than
and fees by less than $1,000 in 2007-08. Twenty-eight percent attend
3 percent in 2007-08. Twenty-two
schools where tuition and fees rose by $1,800 or more.
percent attend schools where tuition • Forty-two percent of ful -time undergraduates at public four-year
and fees rose by 9 percent or more.
institutions attend schools where the 2007-08 increase in tuition and
fees was between $200 and $400.
Trends in College Pricing 2007
9
Tuition and Fee Levels over Time
Table 3a: Average Published Tuition and Fees, Five-Year Intervals, 1977-78 to 2007-08 (Enrol ment-Weighted)
Tuition and Fees—Current Dollars
Tuition and Fees—Constant (2007) Dollars
Academic
Private
Five-Year
Public
Five-Year
Public
Five-Year
Private
Five-Year
Public
Five-Year
Public
Five-Year
Year
Four-Year % Change Four-Year % Change Two-Year % Change Four-Year % Change Four-Year % Change Two-Year % Change
1977-78
$2,700
—
$655
—
$306
—
$9,172
—
$2,225
—
$1,040
—
1982-83
$4,639
72%
$1,031
57%
$473
55%
$9,872
8%
$2,194
–1%
$1,007
–3%
1987-88
$7,048
52%
$1,485
44%
$739
56%
$12,808
30%
$2,699
23%
$1,343
33%
1992-93
$10,448
48%
$2,334
57%
$1,116
51%
$15,416
20%
$3,444
28%
$1,647
23%
1997-98
$13,785
32%
$3,111
33%
$1,567
40%
$17,823
16%
$4,022
17%
$2,026
23%
2002-03
$18,060
31%
$4,098
32%
$1,674
7%
$20,778
17%
$4,715
17%
$1,926
–5%
2007-08
$23,712
31%
$6,185
51%
$2,361
41%
$23,712
14%
$6,185
31%
$2,361
23%
Table 3b: Average Published Tuition and Fees, Yearly Intervals, 1997-98 to 2007-08 (Enrol ment-Weighted)
Tuition and Fees—Current Dollars
Tuition and Fees—Constant (2007) Dollars
Academic
Private
Annual
Public
Annual
Public
Annual
Private
Annual
Public
Annual
Public
Annual
Year
Four-Year % Change Four-Year % Change Two-Year % Change Four-Year % Change Four-Year % Change Two-Year % Change
1997-98
$13,785
—
$3,111
—
$1,567
—
$17,823
—
$4,022
—
$2,026
—
1998-99
$14,709
6.7%
$3,247
4.4%
$1,554
–0.8%
$18,715
5.0%
$4,131
2.7%
$1,977
–2.4%
1999-00
$15,518
5.5%
$3,362
3.5%
$1,649
6.1%
$19,307
3.2%
$4,183
1.2%
$2,052
3.8%
2000-01
$16,072
3.6%
$3,508
4.3%
$1,642
–0.4%
$19,337
0.2%
$4,221
0.9%
$1,976
–3.7%
2001-02
$17,377
8.1%
$3,766
7.4%
$1,608
–2.1%
$20,353
5.3%
$4,411
4.5%
$1,883
–4.7%
2002-03
$18,060
3.9%
$4,098
8.8%
$1,674
4.1%
$20,778
2.1%
$4,715
6.9%
$1,926
2.3%
2003-04
$18,950
4.9%
$4,645
13.3%
$1,909
14.0%
$21,342
2.7%
$5,231
11.0%
$2,150
11.6%
2004-05
$20,045
5.8%
$5,126
10.4%
$2,078
8.9%
$21,991
3.0%
$5,624
7.5%
$2,281
6.1%
2005-06
$20,980
4.7%
$5,492
7.1%
$2,182
5.0%
$22,208
1.0%
$5,814
3.4%
$2,310
1.3%
2006-07
$22,308
6.3%
$5,804
5.7%
$2,266
3.8%
$22,746
2.4%
$5,918
1.8%
$2,310
0.0%
2007-08
$23,712
6.3%
$6,185
6.6%
$2,361
4.2%
$23,712
4.2%
$6,185
4.5%
$2,361
2.2%
Sources: 1987-88 to 2007-08: data from Annual Survey of Col eges, The College Board, New York, NY, weighted by full-time undergraduate enrollment;
1977-78 to 1986-87: data from Digest of Education Statistics, National Center for Education Statistics (NCES), weighted by full-time equivalent enrollment.
Current dol ar charges reflect each year’s actual dol ar prices. Constant dol ar charges adjust these prices for inflation. Increases in constant dol ar prices
indicate increases beyond the average increase in consumer prices. Charges for 2006-07 and earlier years are weighted by same-year enrol ments. Charges for
2007-08 are weighted by 2006-07 enrol ments.
In recent years, price increases • Over the past decade, published tuition and fees at private four-year col eges and
at public four-year colleges and
universities rose an average of $589 per year in 2007 dol ars. The average annual
universities have been larger in
rate of increase during this period was 5.6 percent—2.9 percent after adjusting for
inflation.
percentage terms than those
• Over the past decade, published in-state tuition and fees at public four-year
at private four-year colleges
col eges and universities rose an average of $216 per year in 2007 dol ars. The
and universities, but the dollar
average annual rate of increase during this period was 7.1 percent—4.4 percent
increases at private institutions
after adjusting for inflation.
are significantly larger.
• Over the past decade, published tuition and fees at public two-year col eges and
universities rose an average of $34 per year in 2007 dol ars. The average annual
rate of increase during this period was 4.2 percent—1.5 percent after adjusting for
inflation.
Also important:
• Because of the important role of grants and other forms of student aid in reducing the net price of col ege, published price increases do
not necessarily correspond to increases in the amounts the majority of students and families pay.
• Increases in tuition and fees are driven by a variety of factors, including the effectiveness of campus cost-containment strategies and
changes in funding from other sources such as state and local appropriations or endowments and private giving. The prices paid for the
goods and services required for providing education, the patterns of expenditures, and the services offered on col ege campuses have
changed considerably over time. See Figures 13a and 13b and Figures 14 and 15 for more information on institutional revenues and
expenditures.
10
Trends in Higher Education Series
Tuition and Fee and Room and Board
Charges over Time
Table 4a: Average Published Tuition and Fee and Room and Board Charges at Four-Year Institutions, Five-Year
Intervals, 1977-78 to 2007-08 (Enrol ment-Weighted)
Total Charges—Current Dollars
Total Charges—Constant (2007) Dollars
Academic
Private
Five-Year
Public
Five-Year
Private
Five-Year
Public
Five-Year
Year
Four-Year
% Change
Four-Year
% Change
Four-Year
% Change
Four-Year
% Change
1977-78
$4,240
—
$2,038
—
$14,404
—
$6,923
—
1982-83
$7,126
68%
$3,196
57%
$15,164
5%
$6,801
–2%
1987-88
$10,455
47%
$4,199
31%
$19,000
25%
$7,631
12%
1992-93
$15,027
44%
$5,834
39%
$22,173
17%
$8,608
13%
1997-98
$19,360
29%
$7,469
28%
$25,031
13%
$9,657
12%
2002-03
$24,867
28%
$9,672
29%
$28,610
14%
$11,128
15%
2007-08
$32,307
30%
$13,589
40%
$32,307
13%
$13,589
22%
Table 4b: Average Published Tuition and Fee and Room and Board Charges at Four-Year Institutions, Yearly
Intervals, 1997-98 to 2007-08 (Enrol ment-Weighted)
Total Charges—Current Dollars
Total Charges—Constant (2007) Dollars
Academic
Private
Annual
Public
Annual
Private
Annual
Public
Annual
Year
Four-Year
% Change
Four-Year
% Change
Four-Year
% Change
Four-Year
% Change
1997-98
$19,360
—
$7,469
—
$25,031
—
$9,657
—
1998-99
$20,463
5.7%
$7,769
4.0%
$26,036
4.0%
$9,885
2.4%
1999-00
$21,475
4.9%
$8,080
4.0%
$26,718
2.6%
$10,053
1.7%
2000-01
$22,240
3.6%
$8,439
4.4%
$26,758
0.1%
$10,153
1.0%
2001-02
$23,856
7.3%
$9,032
7.0%
$27,942
4.4%
$10,579
4.2%
2002-03
$24,867
4.2%
$9,672
7.1%
$28,610
2.4%
$11,128
5.2%
2003-04
$26,057
4.8%
$10,530
8.9%
$29,346
2.6%
$11,859
6.6%
2004-05
$27,465
5.4%
$11,376
8.0%
$30,132
2.7%
$12,481
5.2%
2005-06
$28,743
4.7%
$12,115
6.5%
$30,426
1.0%
$12,824
2.8%
2006-07
$30,497
6.1%
$12,837
6.0%
$31,095
2.2%
$13,089
2.1%
2007-08
$32,307
5.9%
$13,589
5.9%
$32,307
3.9%
$13,589
3.8%
Sources: 1987-88 to 2007-08: data from Annual Survey of Col eges, The College Board, New York, NY, weighted by full-time undergraduate enrollment;
1977-78 to 1986-87: data from Digest of Education Statistics, NCES, weighted by full-time equivalent enrollment.
Current dol ar charges reflect each year’s actual dol ar prices. Constant dol ar charges adjust these prices for inflation. Increases in constant dol ar prices
indicate increases beyond the average increase in consumer prices. Charges for 2006-07 and earlier years are weighted by same-year enrol ments. Charges for
2007-08 are weighted by 2006-07 enrol ments.
Adding room and board charges
• Over the past decade, total charges for ful -time students at private
to tuition and fees gives a more
four-year col eges and universities have risen at an average rate of 5.3
complete picture of the total price
percent per year —2.6 percent after adjusting for inflation.
of a year of college. Students who
• Over the past decade, total charges for ful -time in-state students at
public four-year col eges and universities have risen at an average rate of
reside off campus incur similar
6.2 percent per year—3.5 percent after adjusting for inflation.
costs unless they live with family.
Also important:
• In addition to tuition and fees and room and board, students’ total cost of attendance includes the books and supplies, transportation,
and other living expenses included in the student budgets reported in Table 2 and Figure 2.
• About 40 percent of ful -time dependent students enrol ed in public four-year institutions live on campus. Another 40 percent live in
off-campus housing and about 20 percent live with their parents. Among dependent private four-year col ege students, 64 percent live
on campus, 19 percent live in off-campus housing, and 17 percent live with their parents. (National Postsecondary Student Aid Study
[NPSAS]: 2004)
Trends in College Pricing 2007
11
Changes over Time in Tuition and Fees
and Total Charges
Figure 5: Average Published Tuition and Fees in Constant (2007) Dol ars, 1977-78 to 2007-08
(Enrol ment-Weighted)
$35,000
$30,000
2007-08 = $23,712
$25,000
ees
Private Four-Year
$20,000
1997-98 = $17,823
1987-88 = $12,808
$15,000
$10,000
T
uition and F
1987-88 = $2,699
1997-98 = $4,022
2007-08 = $6,185
$5,000
Public Four-Year
1987-88 = $1,343
1997-98 = $2,026
2007-08 = $2,361
Public Two-Year
$077-78 79-80 81-82 83-84 85-86 87-88 89-90 91-92 93-94 95-96 97-98 99-00 01-02 03-04 05-06 07-08
Academic Year
Figure 6: Average Published Tuition and Fee and Room and Board (TFRB) Charges at Four-Year Institutions
in Constant (2007) Dol ars, 1977-78 to 2007-08 (Enrol ment-Weighted)
$35,000
2007-08 = $32,307
Private Four-Year
$30,000
g
es
1997-98 = $25,031
$25,000
1987-88 = $19,000
ees and
d Char $20,000
$15,000
2007-08 = $13,589
Public Four-Year
1997-98 = $9,657
$10,000
1987-88 = $7,631
T
uition and F
$5,000
Room and Boar
$077-78 79-80 81-82 83-84 85-86 87-88 89-90 91-92 93-94 95-96 97-98 99-00 01-02 03-04 05-06 07-08
Academic Year
Sources: Tables 3a and 3b, Tables 4a and 4b, and data online (www.collegeboard.com/trends).
Over the 30 years from
• The average annual inflation-adjusted increase in published tuition and fees at private
1977-78 to 2007-08, the
four-year col eges and universities was 3.4 percent from 1977-78 to 1987-88, 3.4
rate of growth in tuition
percent in the next decade, and 2.9 percent from 1997-98 to 2007-08.
and fees has been more
• The average annual inflation-adjusted increase in published in-state tuition and fees at
public four-year col eges and universities was 2.0 percent from 1977-78 to 1987-88. It
rapid at public four-year
rose to 4.1 percent in the next decade and to 4.4 percent from 1997-98 to 2007-08.
institutions than at private • The average annual inflation-adjusted increase in published tuition and fees at public
four-year institutions, and
two-year col eges was 2.6 percent from 1977-78 to 1987-88, 4.2 percent in the next
has been slowest at public
decade, and 1.6 percent from 1997-98 to 2007-08.
two-year institutions.
• Average published total TFRB charges at private four-year col eges and universities,
However, the dollar gap
$32,307 in 2007-08, have risen at an average annual rate of 2.7 percent since
1977-78, after adjusting for inflation.
between public and private
four-year tuition and fees • Average published total in-state TFRB charges at public four-year col eges and
universities, $13,589 in 2007-08, have risen at an average annual rate of 2.3 percent
widens every year even
since 1977-78, after adjusting for inflation.
after adjusting for inflation.
12
Trends in Higher Education Series
Regional Variation in Charges
Figure 7: Tuition and Fee and Room and Board (TFRB) Charges by College Board Region and Sector,
in Constant (2007) Dol ars, 1997-98 and 2007-08 (Enrol ment-Weighted)
1997-98 ROOM AND BOARD
2007-08 ROOM AND BOARD
1997-98 TUITION AND FEES
2007-08 TUITION AND FEES
Public Two-Year
$18,000
$16,000
$14,000
TFRB in
$12,000
$10,871
$10,200
07) Dollars $10,000
$9,328
$8,374
$8,292
ees and
$8,000
$7,707
$6,000
$4,000
Constant (20
$3,309
$3,594
$2,000
T
uition and F
$3,047
$3,492
$2,261
$2,965
$1,533
$2,226
$1,213
$1,778
$0
$1,319
$1,289
2005-06
Middle States
New England
Midwest
South
Southwest
West
1995-96
Note: 2007-08 room and board charges are based on commuter housing and food costs; comparable data are not available for 1997-98.
Public Four-Year
$18,000
$16,159
$16,000
$15,494
$14,174
$14,420
$14,000
TFRB in
$12,223
$12,399
$12,000
$11,700
$11,525
$9,790
$10,080
07) Dollars $10,000
ees and
$8,082
$8,160
$8,000
$8,116
$6,000
$7,374
$7,200
$5,852
$5,969
$4,000
$5,245
2007-08
$4,484
$5,059
$5,018
Constant (20
$2,000
$3,001
$3,465
$3,289
1997-98
T
uition and F
$0
New England
Midwest
Middle States
Southwest
West
South
Private Four-Year
$45,000
$40,386
$40,000
$34,727
$35,000 $32,430
$31,918
TFRB in
$29,458
$30,000
$27,233
$28,153
$30,154
$26,672
$25,005
07) Dollars $25,000
$23,253
$21,804
ees and
$23,813
$25,021
$20,000
$23,151
$18,622
$22,173
$20,628
$19,748
$15,000
$18,941
$17,494
$17,222
$15,552
$10,000
$13,026
2005-06
Constant (20
$5,000
1995-96
T
uition and F
$0
New England
Middle States
West
Midwest
South
Southwest
The green bars report 1997-98 prices and the purple bars report 2007-08 prices. In each bar, the darker segment corresponds to published tuition and fees and
the lighter segment corresponds to room and board charges. The height of the entire bar reflects total TFRB charges. Regions are arranged in the descending
order of 2007-08 tuition and fees.
Over the decade from 1997-98 to 2007-08, college prices rose more rapidly in the Southwest than in
other regions of the country. However, in all sectors, tuition and fees and total charges are lower in
the Southwest than in most other parts of the country.
Trends in College Pricing 2007
13
Student Budgets by Region
Table 5: Average Student Expenses by College Board Region, 2007-08 (Enrol ment-Weighted)
Resident
Commuter
Additional
Room
Tuition and
Out-of-State
Books and
Room and
Other
and
Other
Region
Sector
Fees
Charges*
Supplies
Board
Transportation
Costs
Board** Transportation
Costs
al
Public Two-Year
$2,361
$4,202
$921
—
—
—
$6,875
$1,270
$1,699
Public Four-Year
$6,185
$10,455
$988
$7,404
$911
$1,848
$7,419
$1,284
$2,138
a
t
i
on
N
Private Four-Year
$23,712
$988
$8,595
$768
$1,311
$7,499
$1,138
$1,664
Public Two-Year
$3,492
$5,985
$805
—
—
—
$6,708
$1,170
$1,680
l
a
nd
Public Four-Year
$8,116
$11,920
$906
$8,043
$531
$1,262
$6,862
$929
$1,586
New ngE Private Four-Year $30,154
$913
$10,232
$584
$1,126
$8,827
$905
$1,257
l
e s Public Two-Year
$3,594
$3,654
$877
—
—
—
$7,277
$1,135
$1,421
d
i
d tate Public Four-Year
$7,200
$8,511
$977
$8,294
$682
$1,691
$7,811
$1,037
$2,142
M S
Private Four-Year
$25,021
$962
$9,706
$618
$1,194
$8,224
$1,057
$1,602
Public Two-Year
$2,226
$4,887
$852
—
—
—
$6,066
$1,480
$1,151
th
ou
Public Four-Year
$5,018
$11,101
$933
$6,507
$1,126
$1,844
$6,884
$1,491
$2,270
S
Private Four-Year
$20,628
$977
$7,525
$993
$1,451
$7,080
$1,362
$1,877
e
s
t
Public Two-Year
$2,965
$3,311
$867
—
—
—
$5,409
$1,378
$1,489
w
d
Public Four-Year
$7,374
$10,730
$860
$6,800
$832
$1,991
$6,244
$1,172
$2,004
Mi
Private Four-Year
$22,173
$991
$7,285
$796
$1,258
$6,445
$1,205
$1,667
s
t
Public Two-Year
$1,778
$2,388
$829
—
—
—
$5,929
$1,469
$1,719
we
th
Public Four-Year
$5,969
$7,706
$998
$6,430
$1,296
$2,007
$6,893
$1,687
$2,021
ou
S
Private Four-Year
$19,748
$1,046
$6,924
$963
$1,493
$6,286
$1,263
$1,732
s
t
Public Two-Year
$1,289
$4,782
$1,110
—
—
—
$8,039
$1,072
$2,148
Public Four-Year
$5,059
$11,462
$1,229
$9,361
$936
$1,946
$8,649
$1,198
$2,235
We
Private Four-Year
$23,151
$1,119
$8,767
$787
$1,733
$7,640
$1,021
$1,823
— Sample too small to provide meaningful information.
* Average out-of-state charges measure the premium charged to students who are not state residents, weighted by full-time out-of-state enrollment. The
out-of-state tuition and fees reported in Tables 1 and 2 reflect the sum of this premium and average in-state tuition and fees, which are weighted by total
full-time enrollment.
** Room and board costs for commuter students are average estimated living expenses for students living off campus but not with parents, as reported by
institutions in the Annual Survey of Col eges.
Source: Annual Survey of Col eges, The College Board, New York, NY.
Average in-state tuition
• Average public two-year col ege tuition and fees range from a low of $1,289 in the
and fees at public
West to a high of $3,594 in the Middle States region.
four-year colleges and
• Average tuition and fees at private four-year col eges and universities range from
universities range from
$19,748 in the Southwest to $30,154 in New England.
$5,018 in the South to
• Public four-year room and board charges are highest in the West and lowest in the
Southwest. Private four-year room and board charges are highest in New England
$8,116 in New England.
and lowest in the Southwest.
• Estimates of the annual cost of textbooks and supplies range from $805 to $1,229.
As the data on page 15 reveal, average tuition and fees for full-time students at public two-year
colleges range from $633 per year in California to $5,692 in New Hampshire. At public four-year
institutions, the range is from $3,361 in Florida (and $1,777 in Puerto Rico) to $10,428 in Vermont.
Average private four-year college tuition and fees range from $4,935 in Utah to $31,052 in
Massachusetts.
14
Trends in Higher Education Series
Tuition and Fees by State
Table 6: Average Published Tuition and Fees by State, 2006-07 and 2007-08 (Enrol ment-Weighted)
Public Two-Year
Public Four-Year
Private Four-Year
Region
State
2007-08
2006-07
% Change
2007-08
2006-07
% Change
2007-08
2006-07
% Change
Connecticut
$2,828
$2,672
6%
$7,586
$7,135
6%
$30,273
$28,547
6%
d
Maine
$3,171
$2,926
8%
$7,316
$6,616
11%
$28,073
$26,635
5%
l
a
n
g
n
Massachusetts
$3,702
$3,579
3%
$7,897
$7,583
4%
$31,052
$29,299
6%
New Hampshire
$5,692
$5,234
9%
$9,673
$9,127
6%
$28,365
$26,841
6%
e
w E
Rhode Island
$2,846
$2,686
6%
$7,192
$6,787
6%
$28,066
$26,541
6%
N
Vermont
$5,500
$5,230
5%
$10,428
$9,783
7%
$28,117
$25,629
10%
Delaware
$2,422
$2,310
5%
$7,811
$7,403
6%
$12,329
$11,573
7%
District of Columbia
—
—
—
$3,770
$3,210
17%
$29,757
$27,658
8%
t
a
t
e
s
Maryland
$3,180
$3,122
2%
$7,304
$7,216
1%
$28,247
$26,497
7%
l
e S
New Jersey
$3,342
$3,188
5%
$9,984
$9,331
7%
$26,795
$25,175
6%
d
i
d
New York
$3,552
$3,460
3%
$5,090
$5,041
1%
$27,170
$25,446
7%
M
Pennsylvania
$4,556
$4,361
4%
$9,672
$9,051
7%
$27,272
$25,675
6%
Puerto Rico
—
—
—
$1,777
$1,421
25%
$4,809
$4,763
1%
Alabama
$2,804
$2,786
1%
$5,245
$4,906
7%
$14,530
$13,512
8%
Florida
$2,032
$2,031
0%
$3,361
$3,315
1%
$22,408
$21,192
6%
Georgia
$2,316
$2,236
4%
$4,262
$3,909
9%
$21,406
$20,124
6%
Kentucky
$3,450
$3,270
6%
$6,287
$5,764
9%
$17,964
$16,926
6%
th
Louisiana
$1,921
$1,875
2%
$3,825
$3,770
1%
$23,590
$22,122
7%
ou
S
Mississippi
$1,716
$1,693
1%
$4,807
$4,450
8%
$12,785
$12,263
4%
North Carolina
$1,336
$1,257
6%
$4,320
$4,067
6%
$22,144
$20,790
7%
South Carolina
$3,239
$3,125
4%
$8,380
$7,913
6%
$18,708
$17,588
6%
Tennessee
$2,632
$2,490
6%
$5,370
$4,973
8%
$19,639
$18,484
6%
Virginia
$2,556
$2,372
8%
$7,005
$6,556
7%
$21,454
$20,396
5%
Illinois
$2,478
$2,301
8%
$9,008
$8,058
12%
$23,613
$22,167
7%
Indiana
$3,007
$2,882
4%
$6,877
$6,555
5%
$24,856
$23,545
6%
Iowa
$3,365
$3,202
5%
$6,218
$5,900
5%
$22,231
$20,745
7%
Kansas
$1,929
$1,887
2%
$5,762
$5,213
11%
$17,183
$16,150
6%
Michigan
$2,338
$2,231
5%
$8,508
$7,673
11%
$16,868
$15,964
6%
e
s
t
Minnesota
$4,443
$4,264
4%
$7,809
$7,518
4%
$25,553
$23,916
7%
w
d
Missouri
$2,520
$2,391
5%
$6,845
$6,526
5%
$20,671
$19,482
6%
Mi
Nebraska
$2,178
$2,013
8%
$5,575
$5,229
7%
$17,729
$16,752
6%
North Dakota
$3,450
$3,304
4%
$5,801
$5,512
5%
$11,694
$11,171
5%
Ohio
$3,483
$3,435
1%
$8,490
$8,445
1%
$23,820
$22,396
6%
South Dakota
$3,680
$3,449
7%
$5,296
$4,969
7%
$18,455
$17,393
6%
Wisconsin
$3,270
$3,145
4%
$6,413
$6,042
6%
$22,576
$21,385
6%
West Virginia
$2,264
$2,207
3%
$4,406
$4,166
6%
$16,196
$15,488
5%
s
t
Arkansas
$2,163
$2,095
3%
$5,587
$5,314
5%
$14,840
$13,801
8%
we
New Mexico
$1,139
$1,102
3%
$4,260
$4,056
5%
$25,922
$24,252
7%
th
Oklahoma
$2,473
$2,306
7%
$4,993
$4,432
13%
$17,188
$16,256
6%
ou
S
Texas
$1,695
$1,610
5%
$6,437
$5,985
8%
$20,848
$19,276
8%
Alaska
$3,660
$3,360
9%
$4,429
$4,194
6%
$17,943
$16,731
7%
Arizona
$1,706
$1,660
3%
$4,960
$4,674
6%
$20,953
$20,003
5%
California
$633
$724
–13%
$4,971
$4,549
9%
$29,810
$28,077
6%
Colorado
$2,464
$2,376
4%
$5,546
$4,772
16%
$28,372
$26,731
6%
Hawai
$1,945
$1,732
12%
$5,021
$4,227
19%
$10,391
$9,835
6%
s
t
Idaho
$2,086
$1,979
5%
$4,382
$4,156
5%
$5,504
$5,326
3%
We
Montana
$2,730
$2,572
6%
$5,313
$5,258
1%
$18,362
$17,093
7%
Nevada
$1,763
$1,695
4%
$3,955
$3,645
9%
$22,305
$20,873
7%
Oregon
$3,204
$3,161
1%
$5,948
$5,576
7%
$26,738
$25,018
7%
Utah
$2,443
$2,324
5%
$4,076
$3,816
7%
$4,935
$4,649
6%
Washington
$2,909
$2,738
6%
$5,974
$5,670
5%
$25,760
$24,147
7%
Wyoming
$1,922
$1,830
5%
$3,554
$3,515
1%
—
—
—
— Data are insufficient to report.
Notes: Data on individual states should be interpreted with caution because of the possible impact of reporting errors and missing data on states with
small numbers of institutions. In Colorado, all state residents enrolled in public institutions and selected private institutions are eligible for tuition
vouchers from the College Opportunity Fund. The tuition figures reported here are based on prices that include the voucher amount, but not all
institutions reported this information in a consistent manner.
Trends in College Pricing 2007
15
$16,000
$14,000
$12,000
$10,000
$8,000
$6,000
$4,000
$2,000
$0
92-93 93-94 94-95 95-96
96-97
97-98
98-99
99-0
0 00-0
1 01-02
02-03
03-04
04-05
05-06
06-07
07-08
Room and Board
Net Price: Public Institu
$27,791tions $35,374
Figure 8a: Published Tuition and Fees a
$1 n
7 d
,336 Room and Board (TFRB) Compared to TFRB Net of Average Grant and
Education
$1 T
3,1 a
26x Benefits per Ful -Time Undergraduate Student at Public Colleges and Universities, in
Constant (2007) Dol ars, 1992-93 to 2007-08
TUITION AND FEES NET TUITION AND FEES ROOM AND BOARD
Public Two-Year
$16,000
$14,000
$12,000
07) Dollars $10,000
$8,000
$6,000
$4,000
OTHER EXPENSES
ice in Constant (20
Pr
TRANSPORTATION
$2,000
ROOM AND BOARD
$0
92-93
93-94
94-95 95-96 96-97 97-98 98-99 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08
BOOKS AND SUPPLIES
Academic Year
TUITION AND FEES
Room and Board
Public Four-Year
$16,000
$14,000
$12,000
07) Dollars $10,000
$8,000
$6,000
$4,000
ice in Constant (20
Pr
$2,000
$0
92-93
93-94
94-95 95-96 96-97 97-98 98-99 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08
Tuition and Fees
Academic Year
Room and Board
Note: Grant aid and tax benefits for 2007-08 are estimated based on 2006-07 and earlier data.
Sources: Aid data are from Trends in Student Aid 2007; breakdown of aid by sector is based on NPSAS: 1993, 1996, 2000 and 2004; calculations by authors.
Average net price is calculated by subtracting average grant aid and tax benefits per ful -time student from the published price. Average aid is calculated by
dividing total grants and tax benefits received by ful -time students in the sector by the number of ful -time students.
Note: changed second column (93-94) manually, not in table data
On average, full-time students • On average, ful -time students enrol ed in public two-year col eges receive about
enrolled in public four-year
$2,040 in grants from al sources and tax benefits. This aid reduces the average
coll
tuition and fees paid from the published 2007-08 price of $2,361 to about $320
$1
e 6,0
ge 00
s and universities
per year.
rec $1
ei 4,0
v 0
e a0bout $3,600 in grants • Average net tuition and fees at public four-year col eges and universities declined
fro $12,0
m al 00
l sources and tax
by about $400 between 1997-98 and 2002-03, after having risen about $250
benefits. This aid reduces
between 1992-93 and 1997-98. The net price rose rapidly over the most recent
$10,000
the average tuition and fees
five years, increasing by $960.
$8,000
paid from the published
• Average net tuition and fees at public two-year col eges declined by about $830
$6,000
2007-08 in-state price of
between 1997-98 and 2002-03, reaching a low of about $130, after having risen
about $220 between 1992-93 and 1997-98. The net price rose about $190 over
$4,000
$6,185 to about $2,600.
the most recent five years.
$2,000
• At public four-year institutions and particularly at public-two year institutions, the
$0
room and board component of the net cost of attendance is much larger than net
Tuition and Fees
92-93 93-94 94-95 95-96
96-97
97 -98 98-99
99-0
0 00-0
1 01-02
02-03
03-04
04-05
05-06
06-07
07 -08
tuition and fees.
Room and Board
16
Trends in Higher Education Series
$35,374
Net Price: Private Four-Ye
$27 a
,791
r Institutions
$17,336
$13,126
Figure 8b: Published Tuition and Fees and Room and Board (TFRB) Compared to TFRB Net of Average Grant and
Education Tax Benefits per Ful -Time Undergraduate Student at Private Colleges and Universities, in
Constant (2007) Dol ars, 1992-93 to 2007-08
TUITION AND FEES NET TUITION AND FEES ROOM AND BOARD
Private Four-Year
$35,000
$30,000
$25,000
07) Dollars
$20,000
$15,000
OTHER EXPENSES
$10,000
TRANSPORTATION
ROOM AND BOARD
ice in Constant (20
Pr
$5,000
BOOKS AND SUPPLIES
TUITION AND FEES
$0
92-93
93-94
94-95 95-96 96-97 97-98 98-99 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08
Tuition and Fees
Academic Year
Room and Board
Note: Grant aid and tax benefits for 2007-08 are estimated based on 2006-07 and earlier data.
Sources: Aid data are from Trends in Student Aid 2007; breakdown of aid by sector is based on NPSAS: 1993, 1996, 2000 and 2004; calculations by authors.
Average net price is calculated by subtracting average grant aid and tax benefits per ful -time student from the published price. Average aid is calculated by
dividing total grants and tax benefits received by ful -time students in the sector by the number of ful -time students.
On average, full-time students
• Net tuition and fees in private four-year col eges and universities have
enrolled in private four-year colleges
grown at about the same rate as published tuition and fees over the decade
and universities receive about
from 1997-98 to 2007-08. The published price has increased by $6,001,
compared to an increase of about $3,600 in the net price.
$9,300 in grants from all sources
• Average total charges, including room and board in addition to tuition and
and tax benefits. This aid reduces
fees, increased by $7,280 (in 2007 dol ars) between 1997-98 and 2007-08,
the average tuition and fees paid
while average total charges net of grant aid and tax benefits increased by
from the published 2007-08 price
about $4,940.
NOTE: I manually edited “93-94” and didn’t
of $23,712 to about $14,400.
change it in table data
Net Tuition and Fees and Net TFRB by Sector in Constant (2007) Dollars, 1992-93 to 2007-08
92-93
93-94
94-95
95-96
96-97
97-98
98-99
99–00
00-01
01-02
02-03
03-04
04-05
05-06
06-07
07-08
Public Two-Year
Net Tuition
and Fees
$740
$870
$900
$850
$940
$960
$500
$440
$290
$160
$130
$200
$290
$350
$300
$320
Net TFRB
$6,260 $6,510 $6,730 $6,560 $6,830 $6,980 $6,650
$6,710 $6,740 $6,510 $6,700 $6,540 $6,690 $6,670 $6,730 $7,200
Public Four-Year
Net Tuition
and Fees
$1,770 $1,900 $1,940 $1,930 $2,000 $2,020 $1,640 $1,530 $1,450 $1,500 $1,630 $1,920 $2,220
$2,410 $2,420 $2,580
Net TFRB
$6,930
$7,180 $7,400
$7,270
$7,510 $7,650 $7,390 $7,400 $7,390
$7,670 $8,040 $8,550 $9,080 $9,430 $9,590 $9,980
Private Four-Year
Net Tuition
and Fees
$9,140
$9,350
$9,660
$9,770 $10,350 $10,840 $11,000 $11,430 $11,480 $12,380 $12,600 $12,940 $13,350 $13,550 $13,770 $14,400
Net TFRB
$15,900 $16,230 $16,320 $16,800 $17,440 $18,050 $18,320 $18,840 $18,900 $19,970 $20,440 $20,940 $21,490 $21,770 $22,120 $23,000
Trends in College Pricing 2007
17
Net Price Relative to Income:
Public Institutions
Figure 9a: Net Tuition and Fees and Net Cost of Attendance As a Percentage of Family Income of Ful -Time
Dependent
NO Stu
TE: den
Had t ts
o f a
ak t Public
e the neg In
ativ stitutions,
e numbers--w 1992
ouldn’ -93
t aut and 2003
omatically gr -0
aph 4
Public Two-Year
90%
Net Non-TF Cost
80%
Net Tuition and Fees
70%
60%
50%
amily Income 40%
30%
e of F
26%
28%
20%
13%
14%
11%
10%
10%
4%
6%
centag
0%
P
er
0%
2%
2%
1%
1%
–10%
–2%
2%
2%
1992-93 2003-04
1992-93 2003-04
1992-93 2003-04
1992-93 2003-04
Low Income
Low–Middle Income
Middle–High Income
High Income
Public Four-Year
90%
Net Non-TF Cost
80%
Net Tuition and Fees
70%
60%
amily Income 50%
42%
39%
40%
e of F 30%
ROOM AND BOARD
20%
22%
AND OTHER COSTS
20%
15%
16%
centag
NET TUITION AND FEES
10%
8%
10%
P
er
1%
0%
7%
5%
6%
4%
5%
3%
3%
1992-93 2003-04
1992-93 2003-04
1992-93 2003-04
1992-93 2003-04
Low Income
Low–Middle Income
Middle–High Income
High Income
Notes: Net price is defined here as published price less grant aid. Total net cost of attendance equals tuition and fees net of grant aid plus room and board
and other costs. Unlike the calculations of net price in Figures 8a and 8b, tax credits and deductions are not subtracted. Percentages are based on the
actual net 1992-93 and 2003-04 prices and 1991 and 2002 family incomes of students enrolled in each sector. Income categories are based on quartiles
of families in U.S. Census Bureau data with heads of households ages 45–54. For 2002, low income is less than $40,000, low–middle income is between
$40,000 and $69,999, middle–high income is between $70,000 and $99,999, and high income is $100,000 and higher. For 1991, low income is less than
$30,000, low–middle income is between $30,000 and $49,999, middle–high income is between $50,000 and $69,999, and high income is $70,000 and
higher.
Sources: NPSAS: 1993 and 2004; U.S. Census Bureau, Current Population Survey, Annual Social and Economic Supplement, 1992 and 2003; calculations
by authors.
Average net tuition and • When living costs are taken into consideration, the average total cost of attendance net
fees required a lower
of grant aid from al sources declined at public four-year col eges for students from low-
percentage of income
income families, from 42 percent of income in 1992-93 to 39 percent in 2003-04, but rose
from 26 percent to 28 percent at public two-year col eges.
for low-income families • In 2003-04, grant aid to low-income students enrol ed in public two-year and four-year
with students enrolled
col eges al owed them to pay lower proportions of their incomes than students from
full-time at public
higher-income families for net tuition and fees. However, when living costs are also
two-year and four-year
considered, the burden for low-income families was disproportionately high.
colleges in 2003-04
• In 2003-04, average tuition and fees for ful -time students enrol ed in public four-year
than in 1992-93. The
col eges and universities ranged from 1 percent to 6 percent of family income. However,
the total student budget including living costs ranged from 10 percent of income for the
same was not true for
students from the wealthiest families to 39 percent of income for students from the
higher-income families.
lowest-income families.
18
Trends in Higher Education Series
Net Price Relative to Income:
Private Institutions
Figure 9b: Net Tuition and Fees and Net Cost of Attendance As a Percentage of Family Income of Ful -Time
Dependent Students at Private Institutions, 1992-93 and 2003-04
Private Nonprofit Four-Year
90%
Net Non-TF Cost
80%
Net Tuition and Fees
69%
70%
64%
60%
amily Income 50%
40%
e of F
30%
35%
30%
29%
29%
25%
26%
20%
15%
17%
centag
10%
14%
18%
15%
14%
P
er
9%
11%
0% 1992-93 2003-04
1992-93 2003-04
1992-93 2003-04
1992-93 2003-04
Low Income
Low–Middle Income
Middle–High Income
High Income
Private For-Profit
90%
Net Non-TF Cost
80%
Net Tuition and Fees
70%
68%
60%
55%
amily Income 50%
40%
e of F 30%
29%
ROOM AND BOARD
26%
30%
21%
21%
AND OTHER COSTS
20%
24%
11%
13%
NET TUITION AND FEES
centag
10%
13%
15%
P
er
11%
11%
0%
5%
6%
1992-93 2003-04
1992-93 2003-04
1992-93 2003-04
1992-93 2003-04
Low Income
Low–Middle Income
Middle–High Income
High Income
Notes: Net price is defined here as published price less grant aid. Total net cost of attendance equals tuition and fees net of grant aid plus room and board
and other costs. Unlike the calculations of net price in Figures 8a and 8b, tax credits and deductions are not subtracted. Percentages are based on the
actual 1992-93 and 2003-04 net prices and 1991 and 2002 family incomes of students enrolled in each sector. Income categories are based on quartiles
of families in U.S. Census Bureau data with heads of households ages 45–54. For 2002, low income is less than $40,000, low–middle income is between
$40,000 and $69,999, middle–high income is between $70,000 and $99,999, and high income is $100,000 and higher. For 1991, low income is less than
$30,000, low–middle income is between $30,000 and $49,999, middle–high income is between $50,000 and $69,999, and high income is $70,000 and
higher.
Sources: NPSAS: 1993 and 2004; U.S. Census Bureau, Current Population Survey, Annual Social and Economic Supplement, 1992 and 2003; calculations
by authors.
Between 1992-93 and 2003-04, tuition • When living costs are considered, the proportion of income required
and fees net of grant aid from all
for ful -time attendance at private nonprofit four-year institutions rose
sources as a percentage of family
significantly for al students in the lower half of the income distribution.
income rose from 14 percent to 18
• For low-income families, net tuition and fees at for-profit col eges rose
from an average of 24 percent of income in 1992-93 to 30 percent in
percent for lower-middle-income
2003-04, while total net cost of attendance rose from 55 percent to 68
students enrolled in private nonprofit
percent of income. Net prices increased less as a percentage of income
four-year colleges and universities,
for students from higher-income families attending for-profit institutions.
but remained steady at 29 percent
• In al sectors, dol ar increases in grant aid over this time period were
for lower-income students.
larger at lower income levels. However, percentage increases in grant
aid were largest for the wealthiest students.
Trends in College Pricing 2007
19
Endowments
Figure 10: Endowment Assets per Ful -Time Equivalent (FTE) Student at Four-Year Colleges and Universities, 2006
Public Four-Year
$45,000
$40,000
$40,000
udent
$35,000
$30,000
$25,000
$20,000
Assets per FTE St
$15,000
$13,200
wment
$10,000
$6,900
$4,100
Endo
$5,000
$2,800
$2,000
$1,200
$0
$100
$600
$0 Lowest 10% 2nd 10% 3rd 10% 4th 10% 5th 10% 6th 10% 7th 10% 8th 10% 9th 10% Highest 10%
Percentile
Private Four-Year
$500,000
$454,100
$450,000
udent $400,000
$350,000
$300,000
$250,000
Assets per FTE St $200,000
$150,000
wment $100,000
$86,500
$42,800
Endo
$50,000
$24,900
$16,900
$0
$800
$3,300
$6,500
$11,100
$0 Lowest 10% 2nd 10% 3rd 10% 4th 10% 5th 10% 6th 10% 7th 10% 8th 10% 9th 10% Highest 10%
Percentile
Notes: Endowment assets are based on data for 639 public four-year institutions and 1,443 private four-year institutions. For most institutions, the
value of endowment assets was as of June 30, 2006. Average endowment per FTE for each decile of institutions is calculated by dividing the total value
of endowments in the group of institutions by total FTE enrollment in those institutions. Because of data limitations, some state systems are counted as
individual institutions.
Sources: National Association of College and University Business Officers (NACUBO) Endowment Study; Integrated Postsecondary Education Data
System (IPEDS); calculations by authors.
Endowment assets include funds that by law must be preserved, with only the income available for spending, because of restrictions placed by donors.
Institutional policy dictates the preservation of other endowment funds. Most col eges and universities spend 4 to 6 percent of the value of their endowments
each year as additions to the operating budget.
Endowment funds are
• In 2006, the wealthiest 10 percent of public four-year col eges and universities had
concentrated in a small
an estimated average of about $40,000 in endowment per student, compared to
number of institutions in
just over $2,000 at the median institution.
both the public and the
• As a whole, public four-year col eges and universities had an average of about
$13,800 in endowment assets per FTE student.
private sectors, with the
• In 2006, the wealthiest 10 percent of private four-year col eges and universities had
wealthiest 10 percent of
an estimated average of about $454,100 in endowment per student, compared to
colleges and universities
about $15,000 at the median institution.
holding most of the assets.
• As a whole, private four-year col eges and universities had an average of about
$82,700 in endowment assets per FTE student.
20
Trends in Higher Education Series
Part-Time
Full-Time and No Tenure System at the Institution
Faculty and Staff
Full-Time and Not on Tenure Track
Full-Time and on Tenure Track
Full-Time and Tenured
Figure 11a: Distribution of Instructional Faculty and Staff at Degree-Granting Institutions, by Employment and
Tenure Status, 1987, 1992, 1998, and 2003
2003
28%
12%
12%
5%
44%
FULL-TIME AND TENURED
FULL-TIME AND ON TENURE TRACK
1998
30%
11%
10%
6%
43%
FULL-TIME AND NOT ON
Y
ear
TENURE TRACK
1992
32%
13%
7%
8%
42%
FULL-TIME AND NO TENURE
1987
SYSTEM AT THE INSTITUTION
39%
14%
5%
8%
33%
PART-TIME
0%
20%
40%
60%
80%
100%
Percentage of Instructional Faculty and Staff
Note: Percentages may not sum to 100 due to rounding.
Sources: Cataldi, E. F., Bradburn, E. M., and Fahimi, M. (2005), 2004 National Study of Postsecondary Faculty (NSOPF:04): Background Characteristics,
Work Activities, and Compensation of Instructional Faculty and Staff: Fall 2003 (NCES 2006-176), Table 12; Ma, Jennifer, “Recent Trends in Faculty
Demographics and Employment Patterns,” TIAA-CREF Institute Trends and Issues Report, November 2004, Table 3; calculations by authors.
The proportion of faculty members • The proportion of faculty members who are part-time increased from 33
FULL-TIME AND TENURED FULL-TIME AND ON TENURE TRACK
who are full-time and tenured
percent to 42 percent between 1987 and 1992 and was 44 percent in 2003.
FULL-TIME AND NOT ON TENURE TRACK
• The proportion of faculty members at col eges and universities t FULL
hat -TIME
offer AND NO TENURE SYSTEM AT THE INSTITUTION
declined from 39 percent in
tenure who are ful -time but neither tenured nor on tenure track P
r AR
os T
e-TIME
1987 to 28 percent in 2003.
from 5
percent in 1987 to 12 percent in 2003.
Figure 11b: Ful -Time Equivalent (FTE) Staff Members per FTE Student in Public and Private Degree-Granting
Institutions, 1976, 1995, and 2005
1976 1995 2005
Public Institutions
Private Institutions
0.30
0.30
0.26
udent 0.25
0.25 0.23
0.23
0.20
0.19 0.19
0.20
0.17
0.15
0.15
0.10 0.10
f Members per FTE St 0.10
0.10
0.08
0.08 0.08
0.07
0.06 0.06 0.06
0.07
0.07
0.06
0.05 0.05
0.05
0.04 0.04
0.05
FTE Staf
0.02 0.02 0.02
0.02
0.01 0.01 0.01
0.01 0.01 0.01 0.02
0.01 0.01 0.01
0.00
0.00
All Staff
Faculty Instruction
Nonprofessional
All Staff
Faculty Instruction
Nonprofessional
Administrative
and Research
Administrative
and Research
Assistants
Assistants
Other Professionals
Other Professionals
Notes: Students and staff are measured in full-time equivalent terms. For students, approximately three part-time students are counted as one full-time
student. Nonprofessional staff include technical and paraprofessional, clerical and secretarial, skilled craft, and service and maintenance staff. Degree-
granting institutions include two-year colleges granting associate degrees in addition to four-year colleges and universities.
Source: Digest of Education Statistics 2006, Table 237.
The number of FTE staff • In 2005, there were 0.06 faculty members per student—or 16.1 students per faculty
members per student
member—in public institutions. Private institutions had 0.08 faculty members per student,
remained steady in
or 12.7 students per faculty member.
public colleges and
• Faculty constitute about one-third of the staff in both public and private institutions.
universities and declined • In public col eges and universities, nonprofessional staff declined from 45 percent of the
total in 1976 to 38 percent in 1995 and 32 percent in 2005. A similar decline took place in
in the private sector
private institutions, from 46 percent to 38 percent and to 30 percent over the same years.
between 1995 and
• In private col eges and universities, with an average of about 1,500 FTE students, there
2005, after increasing
were 0.02 administrators per student (41 students per administrator) in 2005. In public
over the previous 20
institutions, with an average of about 5,550 FTE students and greater economies of scale,
years in both sectors.
there were 0.01 administrators per student (95 students per administrator).
Trends in College Pricing 2007
21
Enrollment Trends
Figure 12a: Ful -Time and Part-Time Enrol ments by Sector, 1985, 1995, and 2005
Full-Time Students
Part-Time Students
2005
47%
22%
23%
8%
90%
2005
27%
57%
13%
3%
FULL-TIME AS PERCENTAGE OF ALL FRESHMEN
80%
FULL-TIME AS PERCENTAGE OF ALL UNDERGRADUATE STUDENTS
1995
50%
23%
24%70% 2%
1%
Y
ear
1995
Y
ear
28%
56%
14%
60%
FULL-TIME AS PERCENTAGE OF ALL STUDENTS
50%
1985
51%
21%
24%
2%
40%
1985
31%
54%
14%
1%
30%
0%
20%
40%
60%
80%
100%
0%
20%
40%
60%
80%
100%
Percentage of Full-Time Students
20%
Percentage of Full-Time Students
PUBLIC FOUR-YEAR PUBLIC
10% TWO-YEAR PRIVATE FOUR-YEAR FOR-PROFIT
0%
Note: Percentages may not sum to 100 due to rounding.
1975
1980
1985
1990
1995
2000
2005
Sources: Digest of Education Statistics 2006, Table 182.
Figure 12b: Percentage of Students Who Are Ful -Time: Al First-Year Students, Al Undergraduates, and Al
Postsecondary Students, 1975–2005
90%
FULL-TIME AS PERCENTAGE OF ALL FRESHMEN
80%
FULL-TIME AS PERCENTAGE OF ALL UNDERGRADUATE STUDENTS
70%
udents 60%
FULL-TIME AS PERCENTAGE OF ALL STUDENTS
50%
e of St 40%
30%
centag 20%
ALL FRESHMEN
P
er 10%
ALL UNDERGRADUATES
0%
ALL STUDENTS
1975
1980
1985
1990
1995
2000
2005
Year
Sources: Digest of Education Statistics 2006, Table 175, Table 184, and Table 190.
In fall 1995, 2 percent of • Total ful -time enrol ment rose from 7.1 million in 1985 to 8.1 million in 1995, and to 10.8
full-time students were
mil ion in 2005.
enrolled in for-profit
• Total part-time enrol ment rose from 5.2 million in 1985 to 6.1 million in 1995, and to 6.7
institutions. By fall 2005,
mil ion in 2005.
that share had risen to 8 • In 2005, almost 60 percent of part-time students were enrol ed in public two-year
colleges.
percent. The largest shift
was from public four-year • Over the past decade, part-time enrol ment as a share of the total has declined. The
proportion of freshmen enrol ed ful -time rose from 70 percent in 1975 and 1985 to 76
institutions, but all other
percent in 1995, and to 82 percent in 2005.
sectors declined as well. • The proportion of al undergraduates enrol ed ful -time fel from 64 percent in 1975 to 60
percent in 1985, and to 58 percent in 1995, but had risen to 63 percent by 2005.
• When graduate students are also considered, ful -time enrol ment fel from 61 percent
of al postsecondary students in 1975 to 58 percent in 1985, and to 57 percent in 1995,
but rose to 62 percent in 2005.
Also important:
• Enrol ment patterns by race/ethnicity and gender have also changed over time. The proportion of undergraduate students who were
male fel from 52 percent in 1976 to 45 percent in 1990, and to 43 percent in 2004.
• The proportion of undergraduate students who were white fel from 83 percent in 1976 to 79 percent in 1990, and to 68 percent in
2004. Enrol ment of black students increased from 10 percent of the total in 1976 and 1990 to 13 percent in 2004. Hispanic students
constituted 4 percent of al undergraduates in 1976, 6 percent in 1990, and 12 percent in 2004, while the share of Asian students rose
from 2 percent to 4 percent and to 7 percent over the same years. (Ramani, Gilbertson, Fox, and Provasnik, Status and Trends in the
Education of Racial and Ethnic Minorities, NCES 2007-039, Tables 23.1, A-23.1)
22
Trends in Higher Education Series
FULL-TIME AS PERCENTAGE OF ALL FRESHMEN
FULL-TIME AS PERCENTAGE OF ALL UNDERGRADUATE STUDENTS
FULL-TIME AS PERCENTAGE OF ALL STUDENTS
Institutional Revenues: Public Appropriations
Figure 13a: Annual Percentage Changes in Educational Appropriations per Public Ful -Time Equivalent (FTE) Student
and in Tuition and Fees at Public Four-Year Institutions in Constant (2007) Dol ars, 1980-81 to 2005-06
15%
e 10%
TUITION AND FEES
5%
e Chang
0%
centag
P
er –5%
APPROPRIATIONS PER FTE
–10%
1980-81
1985-86
1990-91
1995-96
2000-01
2005-06
Academic Year
Appr
A
opr
ppr
iations (millions)
iations per FTE
FTE Enrollment (thousands)
Figure 13b: Educational Appropriations for Higher Education Institutions: Total Appropriations in Constant (2007)
Dol ars (in Mil ions), Appropriations per Public FTE Student in Constant (2007) Dol ars, and Public FTE
Enrol ments (in Thousands), 1980-81 to 2005-06
$70,000
12,000
APPROPRIATIONS (MILLIONS)
$60,000
10,000
07 Dollars)
$50,000
PUBLIC FTE ENROLLMENT (THOUSANDS) 8,000
iations
07 Dollars)
Thousands)
$40,000
opr
6,000
$30,000
APPROPRIATIONS PER FTE
Appr
4,000
ollment (in
$20,000
T
otal
iations per FTE (in 20
(in Millions of 20 $10,000
2,000
FTE Enr
opr
$0
0
Appr
1980-81
1985-86
1990-91
1995-96
2000-01
2005-06
Academic Year
Notes: Educational appropriations equal state appropriations plus local appropriations, excluding research, agriculture, and medical appropriations. Full-
time equivalent numbers are computed by State Higher Education Executive Officers (SHEEO), based on 30 credit hours (or equivalent).
Sources: Table 3a and data online (www.collegeboard.com/trends); SHEEO, 2006.
State and local appropriations
• Growth in state and local appropriations recovered in 2005-06, increasing
per student declined in inflation-
4.5 percent, a high rate by historical standards.
adjusted dollars in fiscal years
• Total state and local appropriations for higher education instruction grew at
1981 through 1983, 1989 through
an average annual rate of 0.9 percent from 1985-86 through 1995-96 and
2.4 percent from 1995-96 through 2005-06, after adjusting for inflation.
1993, and 2002 through 2005.
• Total ful -time equivalent enrol ments in public institutions rose at an
These years correspond to the
average annual rate of 1.4 percent per year from 1985-86 through 1995-96
years of the largest increases in
and 2.1 percent from 1995-96 through 2005-06.
tuition and fees at public four-
• State and local appropriations per student were $6,695 in 2005-06, 2
year colleges and universities.
percent higher than the 1995-96 level of $6,563 (in 2007 dol ars), but 4
percent lower than the 1985-86 level of $6,958.
Trends in College Pricing 2007
23
Institutional Revenues
Figure 14: Revenue Sources: Public Four-Year Colleges, Public Doctoral Universities, Private Four-Year Colleges,
and Private Doctoral Universities, 2005-06
60%
PRIVATE DOCTORAL
54%
PRIVATE BA
50%
43%
PUBLIC DOCTORAL
40%
enue
34%
34%
33%
PUBLIC BA
e of Rev 30%
26%
centag
21%
P
er 20%
17%
17%
14%
13%
13%
12%
11%12%
10%
7%
7%
5%
5%
3%
3%
3%
3%
3%
2%
1%
1%
0%
1%
Total Tuition
Federal
State and
Auxiliary
Private Gifts,
Investment
Other
and Fees
Government Local Government
Enterprises Grants, and Contracts
Return
Revenue Source
PUBLIC FOUR-YEAR PUBLIC DOCTORAL PRIVATE FOUR-YEAR PRIVATE DOCTORAL
Notes: Tuition and fee revenues reported here are gross revenues, including tuition and fees and discounts for institutional aid. Federal revenues include
grants and contracts for research, public service, and training activities. Auxiliary enterprises include dormitories, food services, health services, and
other self-supporting enterprises. Investment return revenues are average dollar returns over a five-year period.
Sources: Preliminary data from IPEDS, 2005-06; calculations by authors.
Total tuition and fees, including
• Revenue from state and local governments constitutes 43
the discounts offered in the form of
percent of total revenues at public undergraduate col eges and 34
institutional grants, constitute 54
percent at public doctoral universities, but only 1 to 2 percent of
revenues at private col eges and universities.
percent of revenues at private four-year
• Return on investments constitutes 12 percent of total revenues at
undergraduate colleges, compared
private undergraduate col eges and 21 percent at private doctoral
to 34 percent at private doctoral
universities, but less than 5 percent at public col eges and
universities. Tuition and fees constitute
universities.
33 percent of revenues at public four-
year undergraduate colleges and 26
percent at public doctoral universities.
Also important:
• At some col eges and universities, a significant portion of institutional aid is a discretionary expenditure but at many institutions, this
discount is necessary to enrol the student body. Under these circumstances, net revenues that include only the tuition and fees
actual y paid are a better measure of institutional resources. Net tuition and fee revenues are lower than the tuition and fee revenues
reported here.
• Eighty-one percent of al students enrol ed in public four-year col eges and universities are undergraduates, 17 percent are graduate
students, and 2 percent are in first-professional degree programs. (Digest of Education Statistics 2006, Table 180)
• Seventy percent of al students enrol ed in private four-year col eges and universities are undergraduates, 24 percent are graduate
students, and 6 percent are in first-professional degree programs. (Digest of Education Statistics 2006, Table 180)
24
Trends in Higher Education Series
Institutional Expenditures
Figure 15: Expenditures per Ful -Time Equivalent (FTE) Student: Public Four-Year Colleges, Public Doctoral
Universities, Private Four-Year Colleges, and Private Doctoral Universities, 2005-06
$18,000
Private Doctoral
$
1
6
,
3
0
0
$16,000
Private BA
$14,000
Public Doctoral
$12,000
udent
$10,900
$10,900
$10,000
Public BA
$9,400
es per FTE St
$8,000
$8,000
ur
$7,600
$
6
,
4
0
0
$6,300
$6,200
$6,000
$5,800
Expendit
$5,000
$4,600
$4,400
$4,100
$4,000
$4,000
$3,300
$3,000
$2,900
$2,900
$2,600
$2,600
$2,500
$2,000
$2,100
$2,100
$2,000
$1,600
$1,200
$1,200
$900
$1,100
$400
$200
$200
$300
$700
$0
$200
Instruction
Academic and
Auxiliary
Student
Scholarships
Research
Public Plant Maintenance
Other
Institutional
Enterprises
Services
and Fellowships
Services and Depreciation
Support
Expenditure Category
PUBLIC FOUR-YEAR PUBLIC DOCTORAL PRIVATE FOUR-YEAR PRIVATE DOCTORAL
Notes: Estimates remove depreciation, plant operation, and maintenance from expenditure categories and report those expenses separately. Instruction
expenditures include only salaries, wages, and benefits. Institutional grant support to students is included as an expenditure under Scholarships and
Fellowships. Academic Support includes expenditures supporting instruction, research, and public service, including libraries, museums, academic
administration, information technology, etc. Institutional Support includes expenditure on general administration, legal services, personnel
management, development, etc. Auxiliary Enterprises include dormitories, food services, health services, and other self-supporting units. Student
services include career guidance, counseling, cultural events, student newspapers, intramural athletics, student organizations, and services provided by
the offices of admissions and the registrar. The research category includes institutes and research centers, in addition to individual and project research.
Examples of public services include conferences, institutes, symposia, reference bureaus, cooperative extension services, and public broadcasting.
Sources: Preliminary data from IPEDS, 2005-06; calculations by authors.
In 2005-06, expenditures on
• In 2005-06, undergraduate col eges spent only about $200 per student
instruction averaged about $5,000
on research. Research accounted for 17 to 18 percent of expenditures
per student at public four-year
at public and private doctoral universities, which educate both
undergraduate and graduate students.
undergraduate colleges and $9,400
• Public doctoral institutions spent about $2,000 per student on public
per student at public doctoral
services in 2005-06, compared to $900 at private doctoral institutions.
universities. Private colleges spent
Public and private four-year col eges spent $400 and $200 per student
about $6,400 per student and private
on public services, respectively.
doctoral universities spent about
• Student services is the only expenditure category in which private
$16,300 per student on instruction.
undergraduate col eges spent more per student in 2005-06 than
universities that offer doctoral degrees.
Trends in College Pricing 2007
25
Notes and Sources
out-of-state students receiving a waiver of some or all of the
tuition premium are not available.
• Resident room and board are weighted by the number of
Data Sources and Analytical Details
undergraduates living in college housing at each institution.
Prices described in this report are based on data reported by colleges
• Out-of-district charges for public two-year college students
and universities as part of the College Board’s Annual Survey
are not accounted for in the average prices reported here.
of Col eges. Data for 2007-08 were collected on questionnaires
distributed in October 2006, and subjected to intensive review
• Estimated other student budget components are weighted as
and follow-up where necessary through the following spring and
follows:
summer months. Institutions could submit or revise their figures
• Books and supplies are weighted by full-time under-
until the third week of August 2007. To collect comparable price
graduate enrollment.
information, the survey asked institutions to provide tuition and fee
• Resident transportation and other resident costs are
data based on charges to first-year full-time students over the course
weighted by the number of undergraduates living in college
of a nine-month academic year of 30 semester hours or 45 quarter
housing.
hours. For those institutions with tuition and fees that vary by year
• Commuter room and board, commuter transportation,
of study, average undergraduate tuition levels were collected and
and other commuter costs are weighted by the number of
used in the analysis. If firm 2007-08 figures were not yet established
commuting undergraduates at each institution, reflecting
at the time the database was closed out in August, but a reliable
the expenses of commuters not living at home with parents.
institutional or systemwide forecast was available, projected data
were used in the analysis.
Survey Response and Institutions
Enrollment-Weighted and
Included in Calculations
Unweighted Data
Out of the surveys mailed to 3,505 public two-year, public four-
year, private nonprofit four-year, and for-profit institutions, 2,976
This report provides enrollment-weighted averages, or average (85 percent) were included in this year’s analysis. Beginning in
prices that full-time undergraduate students face. When weights 2004-05, we implemented an imputation process that allows us
are used in the calculations, charges reported by colleges with to include schools for which we are missing one year of data. In
larger full-time enrollments are weighted more heavily than order to minimize the distortions that might otherwise be caused
those of institutions with smaller enrollments. When calculations by institutions responding one year and not the next, we include
are performed without weighting, the charges of all reporting in the calculations only those institutions for which we have
institutions are treated equally.
two consecutive years’ worth of data or for which we have the
As a snapshot, neither set of averages is more or less correct information necessary to impute a second year of data. We exclude
than the other; they describe different phenomena. The weighted from our calculations military academies and other institutions
averages may be more helpful to students and families in that report zero tuition.
anticipating future education expenses. Some researchers, policy
Table A describes the institutions that were included in this
analysts, and academic administrators find the unweighted analysis, by sector.
averages useful in studying longitudinal trends and evaluating
a particular institution’s practices against a larger set. Thus, the
• The first column reports the number of questionnaires sent
College Board computes both weighted and unweighted averages.
to each type of institution.
Tables reporting unweighted tuition data can be found online at
• The second column represents the number of total
www.collegeboard.com/trends.
institutions from each sector with sufficient information to
The most recent enrollment data available are for 2006-07.
be included in the analysis.
Therefore, while for 2006-07 and earlier years, prices are weighted by
same year enrollments, for 2007-08, prices are weighted by 2006-07
• The third column indicates the number of institutions from
enrollments. In other words, the percentage changes reported
the second column that submitted projected rather than final
in Table 1 reflect only price changes, not changes in enrollment
data at the time the analysis was performed or for whom data
patterns. In contrast, the historical data on changes in enrollment-
were imputed. For example, in the public two-year sector,
weighted prices reported in Tables 3 and 4 reflect both changes in
data for 49 schools were either projected by the school or
prices charged and in the distribution of full-time students across
imputed by the College Board.
institutions. While shifts in the enrollment numbers of individual
institutions from year to year affect the enrollment-weighted
averages in the most recent two-year comparison, there have been no Table A. Composition of Sample for Tuition and Fees
systematic changes, looking back over time, in enrollment patterns (T&F) Analysis
either between or within institutional sectors. Therefore, the effects
that we have reported in recent years are attributable, principally if
Number of
Institutions in
not entirely, to changes in the prices students have been paying.
Total
Institutions
Analysis for Which
Surveys
Included in T&F T&F Are Projected or
Weighted averages for each price are based on relevant populations:
Mailed
Analysis
Imputed
• In-state tuition and fees are weighted by full-time
Public Two-Year
1,027
999 (97%)
49
undergraduate enrollment.
Public Four-Year
606
559 (92%)
23
• Out-of-state tuition and fees are calculated by adding the
Private Four-Year
1,258
1,111 (88%)
15
non-resident premium, weighted by full-time out-of-state
For-Profit
614
307 (50%)
37
enrollment, to average in-state tuition and fees. Data on
Total
3,505
2,976 (85%)
124
26
Trends in Higher Education Series
room and board charges for earlier years in the decade. The net
The samples we construct for regional subsets are, of course, smaller. price estimates reported here are not exactly comparable to those
In some regional subsets, the number of usable observations in some that appeared in 2006 because some have been updated.
budget components is so low that we do not publish the averages.
The net price calculations in Figures 9a and 9b differ in several
ways from the net price calculations on which Figures 8a and 8b
Revision of Base-Year Figures
are based. While the latter rely on data on aggregate amounts of
student aid collected from a variety of sources by the College Board
The base-year values for 2006-07 used in this analysis differ and reported in Trends in Student Aid 2007, the former are based
somewhat from the 2006-07 averages that we reported last year. on NPSAS, which surveys a nationally representative sample of
Several factors contribute to the revision of the previous year’s students.
numbers. The largest contribution to the revision of last year’s price
estimates comes from the re-weighting of the prices, shifting from
2005-06 to 2006-07 full-time enrollment figures.
Endowments
In addition, if tuition and fee or room and board information Data on the endowments of individual colleges and universities
is missing for a given year, we impute those numbers based on are from the National Association of College and University
the institution’s relative position in the overall tuition and fee Business Officers (NACUBO), supplemented by data from IPEDS
distribution of the relevant sector for the preceding year. If an for institutions for which NACUBO data are not available. Public
institution did not report in 2006-07 but provided 2006-07 data university foundation endowment assets are included.
in 2007-08, we replaced our estimate with the reported figure. For
institutions missing only one year of enrollment data, we rely on the Institutional Revenues and Expenditures
available year’s enrollment figure. In some cases, we have used the
National Center for Education Statistics’ Integrated Postsecondary IPEDS expenditure categories are modified in order to increase
Education Data System (IPEDS) data to estimate enrollment. The the compatibility of estimates for private and public institutions.
base-year numbers also change as a result of revisions submitted For private institutions, expenditures for depreciation and for
by institutions. Several hundred institutions submitted changes to maintenance of plant and equipment are separated out of the
their earlier figures for 2006-07. Most of these revisions are minor. functional expenditure categories. Allowances for tuition discounts
Some result from simple reporting error, while many result from the are added to revenue from tuition and fees to calculate a gross
increasing complexity of tuition and fee formulas and determining revenue figure, and these discounts are counted as an expenditure
what fees apply to all students. The College Board does not make under the scholarships and fellowships category.
revisions to incorporate changes in tuition levels imposed during
the academic year.
Inflation Adjustment
The recomputed average for tuition and fees at public four-year
institutions in 2006-07 is $32 lower than the level we reported last The Consumer Price Index for all urban dwellers (CPI-U) is used to
year, and the recomputed average for tuition and fees at public adjust for inflation. Updated CPI data are available from the Bureau
two-year colleges is $6 lower. For private four-year institutions, of Labor Statistics Web site (http://stats.bls.gov/cpihome.htm). We
the $22,308 figure reported here is $90 higher than the amount we have used a calendar base year calculation in most cases. The CPI
reported in 2006.
for a calendar year is based on the August CPI for that year.
Both the average prices for 2007-08 and calculated rates of
Table B provides CPI data. The Factor column provides the user
change published in this report are subject to recomputation one with a multiplication factor equal to that of CPI (base year) divided
year hence.
by CPI (current year). A simple multiplication of a current-year
figure by the associated factor will yield a constant-dollar result.
Longitudinal Data
In Tables 3a and 3b and Tables 4a and 4b, tuition averages from years Table B. Consumer Price Index (1982-84=100)
prior to 1987-88 are extracted from IPEDS. The two data sets, IPEDS
and the College Board’s Annual Survey, track very closely, but IPEDS
Calendar Year
CPI (1982-84=100)
Factor
averages are weighted by full-time equivalent enrollments, while
1997
160.8
1.293
the Annual Survey prices are weighted by full-time enrollments.
1998
163.4
1.272
Annual data for years preceding 1996-97 are available online on the
College Board’s Web site, www.collegeboard.com/trends.
1999
167.1
1.244
2000
172.8
1.203
Net Price Calculations
2001
177.5
1.171
The calculations of net price for full-time undergraduate students are
2002
180.7
1.151
a best approximation. The estimates in Figures 8a and 8b are based
2003
184.6
1.126
on the aggregate amounts of each type of aid reported in Trends in
2004
189.5
1.097
Student Aid 2007 and on the allocation of each type of aid across
institution types and between part-time and full-time students
2005
196.4
1.059
reported in 1993, 1996, 2000, and 2004 National Postsecondary
2006
203.9
1.020
Student Aid Study (NPSAS) data. The allocation of tax benefits is
2007
207.9
1.000
based on NPSAS estimates.
Total charges for public two-year students include an estimate
of housing and food expenses for students not living with their
parents, based on commuter room and board expenses reported
by institutions when available, and derived from public four-year
Trends in College Pricing 2007
27
Defining Terms
The Washington Office of the College Board
conducts research relevant to public policy issues
According to the 1997 National Commission on the Cost of Higher
in education. The office is located at 1233 20th
Street NW, Suite 600, Washington, DC 20036-
Education, defining “cost,” “price,” and “subsidy” is critical to
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clarifying the issues in financing postsecondary education.
This report is available in PDF format on the
• Costs refer to the expenditures associated with delivering
Web: www.collegeboard.com/trends. To order
instruction, including physical plant and salaries.
additional copies of this report at no charge, visit
the College Board Store at store.collegeboard.
• Prices are the expenses that students and parents face.
com.
Published price is the price institutions charge for tuition and
fees as well as room and board in the case of students residing
The College Board: Connecting
on campus. A full student expense budget also includes books,
Students to College Success
supplies, transportation, and other basic living costs. Net price
is what the student and/or family must cover after grant aid and
The College Board is a not-for-profit membership
association whose mission is to connect
savings from tax credits and deductions are subtracted.
students to college success and opportunity.
• General subsidies make it possible for institutions to charge
Founded in 1900, the association is composed of
less than the actual costs of instruction. State, federal, and
more than 5,200 schools, colleges, universities,
local appropriations, as well as private philanthropy, reduce
and other educational organizations. Each
year, the College Board serves seven million
the prices faced by all students—whether or not they receive
students and their parents, 23,000 high schools,
financial aid.
and 3,500 colleges through major programs
and services in college admissions, guidance,
assessment, financial aid, enrollment, and
teaching and learning. Among its best-known
programs are the SAT®, the PSAT/NMSQT®, and
the Advanced Placement Program® (AP®). The
College Board is committed to the principles of
excellence and equity, and that commitment
is embodied in all of its programs, services,
activities, and concerns.
For further information, visit
This report provides the published prices facing students
www.collegeboard.com.
and parents and estimates of average net prices. We refer
© 2007 The College Board. All rights reserved. College
readers to the companion publication, Trends in Student
Board, Advanced Placement Program, AP, SAT, and the
Aid 2007, for detailed data on the grants, loans, work-
acorn logo are registered trademarks of the College
Board. connect to college success is a trademark owned
study programs, and education tax benefits that help
by the College Board. PSAT/NMSQT is a registered
families cover the expenses of college attendance.
trademark of the College Board and National Merit
Scholarship Corporation. All other products and services
An electronic copy of this report, along with the other
may be trademarks of their respective owners. Visit the
reports of the Trends in Higher Education Series
College Board on the Web: www.collegeboard.com.
and additional data tables, can be downloaded at
www.collegeboard.com/trends.
Contact information for the authors:
Sandy Baum, sbaum@collegeboard.org
Jennifer Ma, jma@collegeboard.org
www.collegeboard.com
070342218
