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â¢ Term is the word used more in Britain while semester is the word more common in US educational institutions. â¢ The duration of a semester is 6 months and thus there are 2 semesters in a year.
It depends on your angle. Most people quote college tuition for the whole year. This is because some schools are still on the quarter system while most schools are on the semester system (3 quarters versus 2 semesters per academic year). So, the per-year comparison is the meaningful one. Often it is also to show that the number is high.