The College Board, which is comprised of more than 4,200 schools, colleges, universities, and other education organizations, has released information stating that college tuition prices are on the rise.

The College Board in its yearly survey on the cost for higher education found that tuition and fees at four-year private colleges is up an average of 5.8 percent, or $18,273 for this year.

Last month Northeastern’s President Richard Freeland testified in front of Congress defending the rise in tuition costs. The Wall Street Journal Tuesday wrote that Freeland said salaries at Northeastern have jumped 33 percent in five years because of competition from private companies searching for scientists and engineers at NU.

By the same token, the College Board also reported that college aid grew by $10 billion and of that figure grants totaled 39 percent. Federal grant money goes to students on a need-base system, but a growing amount of the money is going to students based on merit, sports ability or musical talents.

The Wall Street Journal reported in the same article that state merit aid tripled from 1999 – 2001 to $1.1 million.

CNN.com reported that over the course of a college graduate’s career they can expect to earn $1 million more than high school graduates according to The College Board.