What Is the Difference Between a Grant and a Scholarship?

As the workforce becomes more competitive, an education is more and more necessary—but it’s coming at a steeper price. Over the past 30 years, college costs have increased faster than the rate of inflation; all told, the cost of tuition and fees has gone up a whopping 1,120%.

According to CourseSmart, in the 1972-1973 school year public tuition and fees averaged $2,225, while private tuition cost $10,378. In the 2012-2013 school year, those numbers have skyrocketed–$8,655 for public school and $29,056 for private school. And in the 2010-2011 school year, students spent more than $1,100 on textbooks.

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