It Pays To Shop Around For Colleges

DENVER (CBS4) - The cost of college keeps soaring way above the rate of inflation, but it pays to shop around because some schools are a better deal than others.

If you've looked at the price of college you know it's expensive, but what you may not know is that it may not be as expensive as you think, according to a new list released by The Princeton Review.

College-bound students and their families are afraid they won't be able to pay for college, and a lot of people never make it past the sticker price. But many of the nation's most selective colleges and universities are graduating students with student loan debt below national averages. There able to do it in part by using money that doesn't have to be paid back.

On average the total annual cost of attendance, including tuition and fees, room and board and books, costs $19,500 for public universities. When factoring in grants that are available, including state, federal and institutional aid, the final price tag drops to $10,600.

The total annual cost of attendance, including tuition and fees, room and board and books for private schools costs $54,200. But when factoring in grants, including state, federal and institutional aid, the final price tag drops to $21,700 at private schools.

Of the 150 schools listed by The Princeton Review -- 75 public and 75 private -- in the 2013 best value colleges, Colorado College made the list of best value for private schools and the University of Colorado Boulder made the list for best value for public universities.