AIKCU member institutions continue to fare better than the national averages for private nonprofit colleges in terms of both average tuition and fees and average tuition increases.
The average published tuition and fees at AIKCU member institutions (excluding Alice Lloyd College and Berea College, both work colleges that guarantee tuition for all students) is $24,939 for the 2014-15 academic year. That is about 13 percent less than the average for private nonprofits in the South ($27,400) and 28 percent less than the national average ($31,231) for private nonprofit colleges, according to the College Board’s recently released Trends in College Pricing 2014.
AIKCU members’ published tuition and fees only increased by an average of 2.7 percent from 2013-14 to 2014-15. The College Board reports that published tuition and fees rose by 3.7 percent at private nonprofit colleges across the nation.
Of course very few students actually pay these “sticker prices.” The College Board report notes that nationally, full-time students at private nonprofit colleges receive an average of $18,870 in grant aid and federal tax benefits. Here in Kentucky, more than 98 percent of first-time, full-time AIKCU students receive financial aid.