The Cost of College
Written by Mike on May 15, 2008 – 4:07 am -College has become the second highest expense for many families, second only to the purchase of their home. The average four-year public college cost of attendance (which includes tuition, fees, books and supplies, room and board, and miscellaneous expenses) averages $15,000 per year. A four-year private university averages $30,000. Tuition costs alone are up more than 40 percent over the last decade.
Today, it is easy to see why it is not unusual for a family to spend in excess of $100,000 on one child’s college education.
Cost is one thing that most parents think about first when the topic of college comes up. Did you know that not all colleges cost the same amount and that there are different types of financial aid at different schools? Did you know that if your grades or athletic abilities are good enough you could earn a scholarship? Public universities usually offer much lower tuition rates to in-state students, and their fees to out-of-state residents are usually pretty similar to private schools. Private colleges charge everyone the same high tuition, but they often have privately-funded scholarship money available, so it’s worth applying to them even if the price seems too high.
You’ll need to consider the cost of room and board, books and fees. Do these costs factor into the choice of college you make? Can you earn scholarships to offset the expenses? Will you qualify for sufficient financial aid to cover the cost of attendance?
Tags: College
Posted in College |