A common perception among students and families in California is that college is more expensive now than ever before. But factoring in financial aid, college is less expensive now than it was 15 years ago for most students, especially for those who attend the state’s public universities. Students who receive financial aid pay much less than the sticker price across all California schools, and they represent a large majority of students at UC and CSU.

About half of first-time, full-time undergraduates in California receive financial aid from the federal government—and students of all income levels utilize it. A standard federal aid package could include grants, student loans, or work-study. After adjusting for inflation, the average net price of college for federal aid recipients at UC and CSU has lowered by at least 25% since 2008, across every household income level except the highest. At private nonprofits, middle class students have seen the greatest decreases in net price.

For students who do not receive financial aid, college costs can be daunting. However, in the last decade, much of this burden comes from general increases in the cost of living rather than direct increases in the price of higher education in California.

Since around 2015, tuition and fees at California public colleges have flattened out, even decreasing in recent years. Now students are spending a growing share on food and housing. In the last 10 years, the average cost per year of off-campus housing at a California public college jumped by nearly $4,000.

This trend reflects a reality that many Californians face statewide; living in California is becoming increasingly unaffordable. The story is different at private colleges, where the cost of tuition has grown at a similar rate to food and housing.

To deal with the rising cost of living, many CSU students opt to live with family. Nearly half of first-time freshmen at CSU do so, which is almost a 10% increase from a decade ago. Far fewer students live with family at UC and private institutions. Notably, on-campus room and board at UC, CSU, and most private four-years is similarly priced to off-campus food and housing.

Despite food and housing costs driving up the sticker price at UC and CSU, the data is clear that college has become less expensive for Californians who receive financial aid. Still, many families struggle with the remaining costs of college. California has made a number of efforts over the last decade to improve college affordability, including a law requiring that all high school seniors fill out a financial aid application, new aid programs like the Cal Grant B and Middle Class Scholarship, and free college credits through dual enrollment.

One important bright spot: net prices at California’s public colleges and universities are among the most affordable in the nation for low-income students. Even with the current challenges involved with financing a college education, the long-term economic outcomes for college graduates in California remain strong.