The cost of a college education continues to rise around the country. The College Board's annual "Trends in College Pricing" report shows tuition and fees at four-year public colleges rose 6.3 percent this year.
"The lawmakers are actually the ones who set the cap. Generally they will allow universities to go up to that maximum. In some instances, they would allow them to increase less than what they legislate," said James McMillan with Student Financial Services at FAMU.
The report also shows spending by states on higher education has increased nearly 10 percent over the last two years, or about $ billion.
The report shows the extra funds have merely slowed tuition increases but not stopped them completely. Officials with Florida's prepaid college plan say with anticipated increases in the coming years, now is the time to start planning.
"It is the largest plan of its type, the largest prepaid plan in the nation. We have sold more than 1.1 million contracts and we have close to $800,000 students enrolled in the plan currently," said Jackie Barreiros with Florida's Prepaid College Board.
Analysts estimate the cost for a four-year college education, in about 20 years, will run close to $100,000.
Those who would like more information on Florida's prepaid college program can call 1-800-552-GRAD.
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