According to a study by the College Board, over the past ten years, average tuition and fees at four-year public and private institutions increased by 38%. Increases in tuition are related to such factors as declining state appropriations for public sector institutions, while in the private sector, growth in institutional aid for students, investments in facilities are prime factors.

Many students and parents are concerned about their ability to pay for college. However, recent surveys conducted by the American Council on Education show that students and parents frequently overestimate the cost of education and underestimate the amount of financial aid available. In addition, the range of institutions that comprise the U.S. postsecondary education system provides many affordable options for students and families.