The Consumer Memo, 06/24: Private college tuition to rise again, exceeding inflation rate
Tuition and fees at private colleges and universities for the 2011-2012 academic year will rise an average of 4.6 percent, exceeding inflation, according to a survey of 429 institutions.
Tuition hikes have hovered in the mid-four percent range over the last three years, according to the Washington-based National Association of Independent Colleges and Universities. An increase in financial need, employee health care, information technology and utilities contributed to rising tuition, the association said in a statement. During the decade prior to the global financial crisis that began in 2008, the average tuition increase was 6 percent.
Student aid will grow an average of 7 percent, up from a 6.8 percent increase last year, the association said. In light of the economic downturn, private colleges have aimed to increase student aid while slowing tuition increases, David L. Warren, the association’s president, said in the statement.
Regulators reject Pfizer pain drug
Pfizer said the Food and Drug Administration has rejected a pain drug, called Remoxy. In May Pfizer said approval of Remoxy could be delayed because of issues with the manufacturing part of its application. Pfizer did not say Friday if the FDA’s decision was related to those problems. .
Possible changes in hip implant approvals
U.S. regulators are weighing longer approval times and design changes for all-metal hip implants, following decisions by Johnson & Johnson and Zimmer Holdings Inc. to take thousands of artificial joints off the market.The Food and Drug Administration is reviewing steps from changing product labels to removing some devices, said Mark Melkerson, director of the agency division that clears joint implants for sale. The FDA may also extend to five years or more the two years of tests required on some hips, he said.
Electronic Arts Inc. said computer hackers broke into servers that ran a forum for its “Neverwinter Nights” game and may have stolen personal data such as passwords, phone numbers and e-mail addresses. No credit card data was compromised, Electronic Arts said today on its user-support website. The company is investigating and has notified users who were potentially affected, it said.
Internet address group names chair
Steve Crocker, who as a UCLA grad student in the late 60s helped develop the foundation for the Internet today, is the new chairman of the organization responsible for the Internet’s address system. Crocker’s appointment came Friday as the Internet Corporation for Assigned Names and Numbers wrapped up weeklong meetings in Singapore. Crocker succeeds Peter Dengate Thrush, who has been chairman since 2007.
| The Star’s news services