The cost of going to a public college has increased by 24 percent in the past five years. The cost of private school is up 17 percent.
But that's just the sticker price. The value of grants and scholarships has also gone way up, wiping out the average increase at private schools and blunting it at public schools.
Here are some of the key numbers from a report released today by the College Board.
The average cost of tuition, room and board at private schools is $36,993 this year.
But after factoring grants and scholarships — in other words, aid that doesn't have to be paid back — the average cost this year is $21,020. After adjusting for inflation, that's a bit cheaper than the average cost in 2005-2006.
