The cost of a college education rose an average of 4 percent this year, according to the latest annual survey by the College Board. The increase was about two and one-half times the current rate of inflation.

• The majority of students -- those attending four-year public institutions -- are paying only $3,243 a year, an increase of 4 percent.

• However, the average tuition and fees at private four-year colleges and universities now stands at $14,508 annually -- up 5 percent.

• At two-year private institutions, costs rose to an average $7,333, and at two-year public schools to $1,633, both 4 percent increases.

• Private college prices were highest in New England, averaging $19,211 -- and lowest in the Southwest, at $10,701.

Financial aid to students now stands at a record $60 billion a year -- a 6 percent increase over the previous year, adjusted for inflation. Loans now represent 60 percent of aid, compared with just over 40 percent in 1980-81.