NEW YORK, Jan. 9 (Xinhua) -- New research indicated that students are paying significantly less to attend U.S. public universities than they were a decade ago, and tuition increases at private colleges have finally slowed after years of hefty rises.
According to figures compiled by the non-profit College Board, the average student attending an in-state public university this year faces a tuition bill of 11,610 U.S. dollars, which is down 4 percent from a decade earlier when taking inflation into account. But the real savings come in what the average student actually pays after getting grants and financial aid. That's down 40 percent over the decade, from 4,140 dollars to 2,480 dollars annually.
"That reduced cost means less borrowing," said The Associated Press on Wednesday in its report about the figures.
Just under half of students attending in-state public universities are graduating with some debt, down from 59 percent a decade earlier, according to the College Board figures. And among those who do borrow, the average loan balance has fallen by 17 percent, to 27,100 dollars.
Meanwhile, at private colleges, tuition continues to rise, but at a much slower rate. It has increased 4 percent over the past decade, when taking inflation into account, to an average 43,350 dollars, according to the College Board. That's a big change from the two decades prior, when tuition increased 68 percent.
