Americans believe in the value of a college education, but worry about its price. Recent surveys show large majorities affirming the importance of postsecondary education, but characterizing it as too expensive and sometimes financially out of reach. This Statistics in Brief describes three measures of the price of undergraduate education in the 2011-12 academic year: average total price of attendance (also known as the student budget), average net price of attendance after grants, and average out-of-pocket net price. It updates an earlier study of 2007-08 college prices (Wei 2010) and adds details and context to more recent publications describing 2011-12 prices (Horn and Paslov 2014b; Paslov and Skomsvold 2014; Simone et al. 2013) and trends in prices over time (Ginder and Sykes 2013; Horn and Paslov 2014a; Snyder and Dillow 2013, pp. 540-546). The findings in this report are drawn from data in the 2011-12 National Postsecondary Student Aid Study (NPSAS:12), a nationally representative study of students enrolled in postsecondary institutions in the 50 states and the District of Columbia. NPSAS:12 covered all institutions participating in federal financial aid programs authorized under Title IV of the Higher Education Act, which include Pell Grants, Direct Subsidized and Unsubsi-dized Loans (also known as Stafford Loans), Direct PLUS Loans to parents of dependent undergraduates, and federal work-study.