The average four-year private college raised its tuition an average of 5.2 percent last year, close to double the increase at Harvard, according to a College Board study released Monday.
The average increase also outpaced last year's inflation rate of 3.5 percent, continuing a historical trend.
Across the board tuition increases at four-year public, four-year private and two-year private institutions were 5.2 percent, 4.4 percent and 7.0 percent, respectively. Only the 3.4 percent increase in tuition at two-year public institutions was below inflation.
At Harvard, fees rose by only 2.9 percent.
"Harvard's college costs have been held down," said Associate Dean for Finance Cheryl Hoffman. [HUH?} "They are less than the Consumer Price Index and less than inflation while are scholarship awards are increasing at a higher rate."
Hoffman said that rising operating costs--including technology upgrades--are a significant reason why tuition costs have risen throughout the higher education industry.
"Renovations, maintenance and renewal are a huge part of the cost," she said. "The labor market, which has been tight in many parts of the nation, is another factor. Other colleges may not have as strong as an endowment as Harvard."
Other factors, including renovations, maintenance, and rising wages due to a tight labor market have contributed to the rise at many schools.
Read more in News
Harvard's Glass Flowers To Get New GleamRecommended Articles
-
Survey Finds College Tuition Rates Rising Across CountryCollege tuition in America rose an average of 5 percent last year, the College Board's Annual Survey of Colleges reported
-
Tuition to Rise by 8.7%; Fees Will Total $13,150Tuition and room and board charges for the College will go up 8.7 percent next year, an increase well below
-
George Washington Hikes Tuition by 25.5 PercentWASHINGTON--George Washington (GW) University, which has prided itself for its comparitively low tuition rates, last month announced a 25.5 percent
-
Tuition, Fees Will Jump Past $20,000The annual cost of an undergraduate education at Harvard will break the $20,000 mark for the first time next year,
-
Officials Expect No Rise in Payout from EndowmentThe Harvard Corporation is expected to vote this fall to not increase endowment payout for the next fiscal year, a