College Board Releases 2005 College Costs
A new academic year is right around the corner and the College Board has released the Independent College 500® Index which allows College Savings Bank to credit your account accordingly for the year.
The average cost of one year’s tuition, fees, room and board for the 2005-2006 academic year as measured by the IC 500 totaled $31,465.
The change in college costs from the prior year as measured by the Index was 5.62%, that’s more than double the 2.53% increase in the Consumer Price Index for the like period.
While college costs increased 5.62% this year providing our clients with an attractive return, the total returns on U.S. Treasury bills and the S&P 500 were 1.98% and 6.31%, respectively. Please refer to your Annual Statement for a complete account overview.