College Price Tag Sees Smallest Hike in 30 Years

Still getting more expensive, but not as quickly

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College is once again more expensive this year than last, but the price tag is going up slower than before.

The College Board said in a report Wednesday that average cost for in-state tuition at a four-year college has risen only $247 since 2012. The 2.9 percent price increase is the smallest one-year hike on record for the last 30 years, the Associated Press reports. 

Out-of-state tuition and private tuition costs rose slightly faster, but also haven’t posted major hikes this year.

It’s not all good news for affordability; federal grant aid has sagged, so fewer students are getting financial help to pay for college.