Though it is still cheaper to go to a public university than a private one, a recent spike in college costs this fall is narrowing the gap between private tuition and public tuition.

However, this narrowed gap is nothing new. Over the past ten years, public school tuition has increased at an annual rate of 5.6 percent, while private schools have increased at an annual rate of three percent.

The average public in-state tuition rose nearly eight percent this fall. That’s an increase of between $555 and $7,605. As for private schools, their cost went up 4.5 percent, or $1,164 to $27,293, according to a College Board report called “Trends in College Pricing.” Read the rest of this entry »