NEW YORK, Oct. 23 (UPI) -- Taxpayer-funded universities hiked tuition an average 10.5 percent this year, more than four times the inflation rate, the New York Times reported Saturday.
By contrast, privately funded universities raised their tuition 6 percent, the College Board said, and community college tuition rose 9 percent.
Inflation this year has been about 2.5 percent.
This year's increases in tuition were so large that grants to students were not expected to keep up, the Times said. One result is that students are becoming increasingly dependent on loans instead of grants.
About a decade ago, there was almost as much grant money available to students as there were loans. But by last year, loans had become a much bigger piece of financial aid, making up almost 50 percent more of the total pool than grants.
The College Board represents about 4,500 universities and colleges in the United States.
