In its 2004 edition of Trends in College Pricing, the College Board reported that tuition costs are still increasing, but the increase is smaller than last year. Balancing this increase, fortunately, is the College Board's finding that student aid (particularly loans) is growing at an ever faster rate.

According to the report, the average tuition and fees charged in 2004-5 are:

• $5,132 (up from $4645) at four-year public colleges and universities
• $2,076 (up from $1,909) at two-year public colleges
• $20,082 (up from $18,950) at four-year private colleges and universities

At the same time, full-time students received an average of $10,472 in financial aid ($3,986 in grants, $540 in educational tax benefits, and $5,840 in loans).

While all forms of student aid increased this year, pvirate/alternative loans were the fast growing component of funds used to pay for college. The number of federal loans increased by 13%, but the number of private loans increased by more than four times that.

Tip:  If you're facing higher tuition costs, did you know that there are numerous funding programs that help you pay your tuition costs? And, most of those are "free money," which doesn't need to be paid back! Find out about this funding in Reference Service Press's line of award-winning financial aid directories for undergraduates, particularly Kaplan Scholarships.