Public College Tuition Jumps 8%

Public schools got significantly more expensive again last year, with tuition at four-year universities shooting up 8.3% to $8,244, according to a new report from the College Board. The story wasn’t any better at two-year schools, which saw prices rise an average 8.7% to $2,963. Both jumps well outpaced inflation (3.6%), and came amid drops in family earnings across all income levels, USA Today reports.

The hikes come in part thanks to state budget cuts. State funding per student fell 4% last year, and has dropped 23% over the past decade. “It has become all too common for state legislatures to dip into pockets of students and families to balance state budgets,” said the president of the American Council on Education, calling this year’s figures “sadly familiar.” Still, there is good news: federal student aid rose, blunting much of the impact of the price hikes on families. (And the news comes as President Obama announced new student loan relief.)