The College Board’s 2023 “Trends in College Pricing and Student Aid” report establishes that although average tuition and fees increased for the 2023-2024 academic year, the increase was less than the rate of inflation, Inside Higher Ed reports. The research indicates that the average published tuition and fees decreased in all three categories after accounting for the 4.5% inflation that occurred between the first eight months of 2022 and 2023. Before adjusting for inflation, public two-year colleges charged 2.5% more in tuition and fees for first-time, full-time, in-state students. After inflation adjustments, first-time, full-time students’ average net tuition and fees at public four-year universities decreased from $4,230 in 2012–13 to an estimated $2,730 in 2023–24.
The National Student Clearinghouse Research Center reported a 2.1% increase in undergraduate enrollment in 2023, primarily driven by community colleges and historically Black colleges and universities, according to coverage by The Chronicle. This is the first time that colleges have seen an increase in undergraduate enrollment since the Covid-19 pandemic began. However, freshman enrollment declined, with a 3.6% drop in public and private four-year institutions, reflecting sentiments of doubt and distrust voiced by Gen-Z students about the cost and value of higher education.
The Education Department has imposed a record fine of $37.7 million on Grand Canyon University for misrepresenting the cost of doctoral degree programs, Higher Ed Dive reports. GCU, a private Christian university, repeatedly informed both incoming and continuing doctorate students that the cost of their degree program would range from $40,000 to $49,000. According to the Education Department’s findings, however, those numbers did not account for the additional courses required to finish the dissertation program. Almost all (98%) of graduates required more than the 60 credit hours included in the cost estimates, leading to tuition increases of up to $12,000. In a statement to Inside Higher Ed, the university “categorically” denied the Education Department’s allegations.
State financial aid programs are adapting to the new Free Application for Federal Student Aid (FAFSA), which will adjust its methods of calculating financial aid eligibility, Higher Ed Dive reports. The new FAFSA will abandon the Expected Family Contribution formula in favor of the Student Aid Index (SAI), a calculation that aims to simplify the process of determining out-of-pocket contributions. A third (33%) of students are expected to receive larger Pell Grants, while 1% will see a decrease.