Annual tuition increase lowest in 40 years, still makes college more expensive

It's going to cost almost 4 percent more to attend a private college in 2013. However, in a way, this is good news, because that's the smallest average amount tuition costs have risen since the 1970s, according to the National Association of Independent Colleges and Universities (NAICU).

The organization points out that while private universities have gotten more and more expensive, publicly funded colleges are seeming like a more fiscally wise option for some students. However, the NAICU states that privately-owned colleges tend to provide more financial aid for college.

In a follow-up report, CNN notes that this is the fourth consecutive year that the average increase of the price of tuition has been less than it was before the recession. The news provider also notes that during the decade before 2009, the average tuition hike was in the range of just under 6 percent every year.

Even though it may be a relief for some people that college is a little less expensive than they expected it to be, it's certainly not getting much cheaper, which makes financial planning for college all the more crucial for people looking to earn a degree.

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