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Cost of going to college rises -- again


Florida schools are still a bargain, even though tuition at some state schools rose 15 percent this year.3663423.thl.jpg

With in-state tuition running around $4,000, Florida schools fall below the four-year public college cost national average of $7,020. Throw in room and board and the nationwide average cost of a year at a state-supported college is $15,213.

The current school year’s tuition nationwide is 6.5 percent higher than in 2008-2009, according to the College Board’s annual study of college costs and financial aid, released Tuesday.

Increasing college costs continue to far outrun inflation. The price of all consumer goods and services actually fell during the last school year by 2.1 percent.

Two-thirds of college students borrow to meet these expenses. Borrowers graduate with a median debt of $20,000.

The financial pressure on students and their family is clear. Federal and state grants are growing at about 3 percent a year – less than half the rate of growth of college costs.

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About the author
You've got the job of managing your money. No one in school taught you how. But you and I, we can teach each other, how to handle it, how to save for retirement, how to make money last, how to educate the kids, how to make a budget work. The conversations I have with my readers are fun. Money's important, but discussing it does not have to be boring.

Harriet Johnson Brackey Harriet Johnson Brackey, the personal finance columnist for the Sun Sentinel, is an award-winning business reporter. Her columns for 2008 were named "The Best in the Business," a national award chosen by her colleagues at the Society of American Business Editors and Writers.

Brackey has worked at Business Week magazine and at USA TODAY, where she was a founder and part of the original staff of the Money section at the country's first national newspaper. After nearly 11 years there - spent covering the 1980s bull market, the insider trading scandals, the 1987 crash - Brackey left Washington, D.C., and came to The Miami Herald. She spent the next decade writing a column about personal finance that chronicled the stock market's Internet boom and bust, as well as the popular Money Makeover features.

Brackey also has done commentaries for Marketplace Money, which airs on National Public Radio and The Nightly Business Report which is broadcast on more than 250 PBS television stations nationwide. She also has been a radio guest on WLRN’s Miami Herald News.
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