Cost of Public Colleges Skyrockets

The cost for you or your kids to attend a public college has jumped to a record high. A new report from "The State Higher Education Executive Officer's Foundation" says the average tuition at a public college rose more than 8% last year... at the same time state governments were cutting school funding by an even bigger amount: an average of 9% per student.

That comes as a big blow to many students who rely on state funding to finance their education. Experts say rising tuition costs are just one example of the strain on the nation's higher learning system.

But it's not all doom and gloom for students hoping to attend a public school. The president of the group that published the report noted that 31 states have increased funding for the current 2012-2013 school year. And quite a few of them are proposing increases for the following school year as well. That could provide a bit of a breather for students and their parents.

(source: CNN)