College Board: Tuition Rates Surge; Grant Increases Exceed Loan Increases

There's both good and bad news from the College Board's latest annual report on tuition levels and student aid. The bad news: State budget cuts forced many colleges and universities to increase tuition at rates well above the increases for recent years. The good news: A record $90 billion in financial aid was available for the 2001-2002 academic year, and increases in grant aid outpaced increases in loan aid for a second consecutive year. Read more.