College tuition rising faster than family income

(Photo: WKRN)

NASHVILLE, Tenn. (KRON) — College tuition is rising faster than inflation and family income, according to a new report from the College Board.

The average cost of tuition, fees, and room and board rose 10 percent over the past five years at public schools and 12 percent at private schools.

Family income rose just 7 percent over that time.

Analysts say costs are going up at public universities because they lost a lot of funding during the recession and are still recovering.

The average tuition to go to an in-state public university is now just over $14,000 a year, while the average for private schools is just over $26,000.