Cost of college tuition beginning to level out

The average growth in the cost of tuition for four-year public universities in the United States was 4.8% this year. That’s a significant decrease from the steep rates of climb seen in previous years. There have also been declines in rates regarding student aid. Federal grant aid for the 2011-2012 school year totaled $49 billion, a decrease from $52 billion in 2008-2009. Borrowing for education loans; private, parent, and federal, decreased 4%. That’s the first time college loan borrowing has decreased in 20 years. Donald Heller, dean of Michigan State University’s College of Education, says the decrease in borrowing could be attributed to a decline in enrollment. While the net price of public university tuition has increased at a slower rate, the average net price of private university tuition has actually decreased from its 2008-2009 rate and community college students on average get enough aid to cover the cost of tuition and have some left over for books and other expenses.