To understand the full cost of your education, you must consider the small expenses in addition to tuition.
If you are considering attending college, it's normal to feel anxious about college tuition costs. Factors like reduced state funding and the need to keep programs competitive have caused the average cost of tuition to increase 65% at public colleges and 50% at private colleges since 2000 — and that's before factoring in student fees and living costs.
Attending a public four-year college costs about $20,050 annually, while attending a private four-year college costs $43,130. Attending a community college typically costs $10,704 annually.
The good news is that college can offer a good return on investment (ROI), leading to higher career earnings in the long run — as long as you plan the costs of your education carefully.
College Cost Index
Nearly all college websites will directly state their tuition rates in cost-per-credit terms, but on average, how much does college cost up front? When running the numbers, you should remember that tuition isn't your only concern. You also need to consider the various fees that schools require.
The index below shows sample costs for students studying full time and paying in-state tuition rates and fees. We use numbers like these for all of our college rankings.
| Four-Year College | Actual Cost | |
|---|---|---|
| $$$$$ | Western Washington University | $8,343 |
| $$$$$ | Hillsdale College | $28,368 |
| $$$$$ | Antioch College | $37,143 |
| $$$$$ | Massachusetts Institute of Technology | $53,790 |
| $$$$$ | Columbia University | $61,788 |
Navigating the Cost of College
Before taking on the financial responsibility of attending college, consider the costs of your schooling beyond tuition.
According to the College Board, during the 2019-2020 school year, full-time, on-campus undergraduate students at both private and public colleges spent $1,240 on textbooks alone. Moreover, room and board for those same students costs $11,510 annually at public schools and $12,990 at private schools. You may also encounter technology or student health fees.
Navigating these financial challenges can require resourcefulness and creative solutions. For instance, you might purchase used textbooks and shop for less expensive living options off campus. You may even consider attending school online, especially if housing, living, and commuting costs would burden you financially.
You should also consider the advantages of choosing an in-state college, especially if you plan to attend a public four-year college. Most public colleges offer a significant tuition discount for in-state students. Additionally, many state schools offer in-state tuition for online students, regardless of where they live.
Frequently Asked Questions
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