Paying For Online College
While the average cost of online college can be cheaper than a traditional school, many online learners rely on financial aid to pay for school. Online students qualify for many of the same financial aid opportunities as on-campus students. This section outlines several types of financial aid and scholarship opportunities for online learners.
How Much Does 4 Years Of College Cost On Average
The answer to this question is complex as it can vary depending on various factors, such as whether we are talking about in-state or out-state college, public, or private 4-year institutions.
According to Education data, in the year 2019-2020, in the most general sense, the average total price for a college degree is roughly $122,000.
Nevertheless, as we mentioned, various factors contribute to this number, so if we implement some of them, we get the following statistics: the average cost of education in 2019-2020 for a 4-year private nonprofit college is $199,500, for a 4-year public in-state college is $87,800, and for a 4-year public out-state college is $153,320.
Bear in mind that the above statistics refer to the total average price for a 4-year degree assuming that the student finishes his/hers education within those 4 years however, studies showed that only 39% of students finish in this period, and nearly 60% of undergraduate students take on average 6 years to finish the 4-year college meaning the average price for them will be much higher due to this fact.
When we are talking about the average cost of 4-years College speaking solely about the college tuition and fees, the numbers again vary depending on the type of college the student attends: the average college tuition costs for a 4-year private nonprofit college are $36,880, for 4-year in-state college are $10,440, and for 4-year out-of-state college are $26,820.
Veterans And Military Families Discount Rate
To honor your service, the Colorado Mountain College Board of Trustees is pleased to offer qualifying veterans and military families a 25% tuition discount off your tuition classification rate. This discount is for veterans, active-duty military, their spouses and dependents under 23-years-of-age. To learn more about the discount, please visit:
For more information contact the Coordinator of Military Services at .
All discounts are approved by the board of trustees on an annual basis and subject to change or be discontinued at any time.
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Pros And Cons Of College Housing Options
Once you choose a college, youll also need to find somewhere to live . Your housing choice can be an extension of college life or simply a place to sleep. Here are a few options to consider:
Living in a residence hall is a popular choice for first-year students. This all-inclusive option lets you meet new people outside the classroom and, along with available meal plans, is probably the best all-in-one choice. Pre-arranged study groups and activities in campus housing mean youll never be bored, and because residence halls are conveniently located, you dont need a car.
Residence hall living also means you can be more immersed in college life. This makes a dorm a great choice since most freshmen dont know anyone when they first arrive. On the downside, expect noise, a small and sparsely furnished living space, and minimal privacy. Youll probably be assigned a roommate, who may turn out to be your best friend . So while there are advantages and disadvantages to dorm living, its probably your best option to get a true taste of college life as a freshman.
Living in an apartment means you get to choose your roommate and make your own rules. By having a true space to call home, its easier to separate yourself from school, and, depending on the choices you make, this can be a fairly inexpensive living arrangement. Apartments offer more privacy and probably impose fewer restrictions on your activities than dorms.
Types Of Materials And Where Theyre Buying
College students are frugal when considering where theyll buy course materials and what types of course materials they purchase. Some options, like renting or buying digital books, save a lot but come with their own drawbacks. Read on to see how college students differ when deciding what materials to get and where to buy them.
Average College Tuition By State
Just like with any big purchase, you want to make sure youre getting the right product at the right price! And you want to make sure the store around the corner doesnt have the same thing at a much lower rate. Thats why its good to have the average college tuition numbers in your back pocket.
This blog shares the average college tuition prices over the years and in each state.
Remember: Do your research to see what potential colleges offer, what you could earn in financial aid and scholarships, and how to negotiate what you receive!
Now lets get started!
Average Cost Of Books & Supplies
Some programs require more expensive materials than others, so the cost of books and supplies varies widely.
- At public 4-year institutions, students pay an average of $1,334 annually on books and supplies.
- Books and supplies at private, non-profit institutions average $1,308 at private, for-profit institutions, the average cost is $1,194.
- At public 2-year institutions, students pay an average of $1,585 each year for books and supplies.
- At private, nonprofit institutions, books and supplies average $1,061 at private, for-profit 2-year colleges, the average cost is $1,393.
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Quick Look Into What & How Much Do College Students Spend Money On
So where does all this money go? What do college students buy? The biggest expense for college students is undoubtedly the expense of tuition.
For a 4-year college degree, this comes up to around $40,000. At a distant second is the expenditure on Rent which comes up to $16,000-17,000 during a 4-year degree.
Students are required to spend on academic needs, the most prominent of which is to purchase books and other learning resources. Utility bills are a common fixture in the budgets of most college students.
Spending is also incurred on transportation, entertainment needs, groceries, takeaway, and dining out. Socializing activities also require spending. These are the main ways in which college students spend money today.
How Can I Cover Expenses
If you dont qualify for enough federal and institutional aid to cover the cost, you might want to consider these options to help pick up the slack:
- Private grants. If you attend a school that cant meet 100% of your financial need, you might qualify for a grant from an institution outside of your school.
- Private scholarships. Students with good grades or special talents might qualify for merit-based scholarships from outside organizations.
- Interest-free loans. Some private organizations offer loans that dont come with interest though usually in smaller amounts than traditional student loans.
- Private student loans. After exhausting all of your federal and free financial aid options, consider applying for a loan from a private lender to cover the rest of your expenses.
You might want to start your search for extra funds with your schools financial aid office. They can likely tell you the scholarships and grants for which you might be a good candidate.
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Other Factors To Consider
The fact that even an in-state university jumps above $100,000 for four years with room, board, books, materials, transportation, and other personal expenses considered shows just how expensive college has become. However, even the numbers provided above wont necessarily tell the whole storyunless, perhaps, you have a college fund that can cover the full expense.
The biggest of the other factors that you need to consider are student loans. The average graduate of the Class of 2016 was carrying over $37,000 in student loan debt at the time of graduation. If you anticipate that you must take out student loans to cover the cost of college tuition, then you must consider the aftermath of college as part of your Cost of College calculations.
How much you will pay on your student loans depends on several factors, making it difficult to formulate a ballpark estimate for how student loan payments affect the overall cost of college. After all, some studentsusually with help from their parents or assistance through scholarshipscan escape college with no debt. Others have to take out loans for the entirety of their four-year tuition bill. Whether or not you have a job and a source of income throughout college can also impact how much debt you have when you graduate.
Average College Tuition And Fees
Although college tuition and fees are separate costs, colleges usually report a combined tuition and fees figure. For the 2020-2021 academic year, the average price of tuition and fees came to:
- $37,650 at private colleges
- $10,560 at public colleges
- $27,020 at public colleges
What is college tuition? College tuition is what colleges charge for the instruction they provide. Colleges charge tuition by the units that make up an academic year, such as a semester or quarter. Tuition at public colleges is usually lower for in-state residents. Out-of-state students often pay double the tuition as in-state students.
Tuition can vary by major. Students in the sciences, engineering, computing, pre-med programs, and the fine arts often pay higher tuition than students in other majors. For example, at the University of Illinois Urbana-Champaign, students enrolled in the College of Engineering pay up to $5,000 more in tuition per year than students pursuing majors in the liberal arts.
What college fees cover. Fees may support services such as the library, campus transportation, student government, and athletic facilities. Fees charged can vary widely from college to college. For example, the University of California, Irvine charges students a campus spirit fee to help support the athletics and school spirit programs and a fee for student health insurance.
Source: College Board, Trends in College Pricing and Student Aid, 2020.
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Student Stress And Debt
Students feel a lot of stress from their finances. Many students feel the pressure of piling debt and many cite financial stress as even more impactful than stress felt from academics. To get a better idea of these stressors, take a look at the stats below.
- Student loan debt has reached over $1.67 trillion as of August 2020.
- The total student loan debt is higher in 2020 than it was in 2019, when it averaged $1.598 trillion.
- College students carried an average student loan debt of $33,654 individually in 2019.
- College students paid an average of $393 per month towards student loans in 2019.
- There were 43 million student loan borrowers in 2019.
- 2.8 million students who borrowed loans in 2019 owe $100,000 or more.
- 67 percent of students said that finding a job that provided them with financial security was a primary concern in 2019.
- For every five students, four report the high cost of education as the primary issue impacting them in 2019.
- Over 50 percent of students said mental health was a primary concern throughout school in 2019 due to financial strain and academic pressure.
- Women hold nearly two-thirds of student debt in the country, totaling nearly $929 billion in 2020.
- First-generation college students are burdened with more debt when they graduate in 2020.
- The cost of a college education has increased by 103 percent since 1987.
How Much Does Four Years Of College Cost
Over the years, college has evolved from a choice made by some to an expectation for nearly everyone. At high school graduations, schools will even read off information about the colleges that students are planning to attend. Going to college has become the societal norm, to the point where it is almost strange, unwise, and often even unacceptable to decide against higher education.
There is an obvious reason for this trend. Many people believe that opting out of going to college will make it more difficult for a person to find employment, advance their career, and make money throughout their lifetime. A college degree, in comparison, opens up the job market, unlocks paths to advancement, and leads to higher salaries.
None of these beliefs are expressly incorrect. Many employers will make a four-year degree a prerequisite for most positions. These positions require specific skills and education that are usually not covered in high school. Employers are willing to pay extra for those skills, meaning that salaries areon averagehigher for college-educated professionals than they are for people who merely hold high school diplomas.
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Factors In Current Cost Of College
As noted, theres more to the cost of college than just tuition. Students have to pay for books and supplies, room and board, transportation, food, and much more. These factors vary in price from state to state, but all have continued to increase over the years.
Difference Between Tuition and Fees
Before students attend college, they might not be aware of the difference between tuition and fees.
The cost of tuition is a charge directly from the school for teaching. This is usually the most expensive component for attending college. However, other fees and expenses can add up quickly.
Fees vary from school to school, and they are additional charges on top of the tuition. For example, a school may have a health clinic fee, gym fee, communication fee, technology fee, athletic fee, among others.
Cost of Living Expenses
Beyond tuition and fees, your living expenses in college add to the overall cost of college. This includes books and school supplies, housing and transportation and other miscellaneous living costs such as personal hygiene items, linens, cooking supplies, and basic necessities.
Books and School Supplies
Whether the school is public, private, in-state, or out-of-state, the textbook and school supply costs are all relatively the same. Books and supplies are estimated to cost $1,240 per year for private colleges and $1,240 for in-state and out-of-state colleges.
Commuting vs. on Campus
Other Unexpected Costs Associated with College
Tuition Fees International Students
Tuition fees for international Bachelor’s and Master’s degree programmes depend on the programme of your choice and your personal situation. Below you will find a brief overview of tuition fees. Please note that the official tuition fees will be available at a later stage. More detailed information is available through the following links:
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Why Is College So Expensive
As with everything else, several factors are contributing to the increased prices of colleges.
First of all, it is the increasing demand: more than 5.1 million students attended college in 2017 compared to 2000. This number continues to grow, and with higher demand, come higher prices.
Second, colleges include many branches such as administrative branches, instructional, construction, maintenance, supplies, and with prices for living, in general, going higher, so do these expenses. Additionally, the dark side of colleges is that they are increasing their administrative branches and fees Education data reports explain that just between 1975 and 2005 the number of administrators in colleges has increased by 85% and of administrative staffers by over 240%. This means that while the prices are going up, you are not necessarily paying more to get a better education and teachers, a contrary, studies have shown that in 2018 almost 73% of all faculty positions were not held by college professors but by non-tenure-track who get paid lesser and have lesser experience and education so these higher costs are going in the pockets of the administrators and administrative staffers who are rather working as college promoters and marketers. This is one of the biggest issues that college education in the states is facing, and as such, I feel we are obliged to mention it, considering that it is one of the biggest, main reasons for increased college expenses and tuition.
Average College Tuition Costs Over The Years
Upon closer inspection of the average cost of college one may note a consistent surge: college tuition and fees are continuing to increase to a point that one may freely describe them as skyrocketing.
If we were to compare the prices from 1989 and those from 2016 we will notice that it increased almost 8 times faster than the wages in 1989 the four-year degree cost on average $52, 892 compared to 2016 when the same degree surpassed $104,480.
This movement of the rise in college tuition seems to be constant throughout the years and that does not exclude this year. Juxtaposing 1989 statistics with the recent 2020 statistics confirms that the average college tuition for any college education is skyrocketing:
- In 1989, the public 2-year cost of tuition and fees was $1,730, while in 2019-2020 that same cost $3,730
- In 1989, the public 4-year average cost of tuition and fees was $1,730, while in 2019-2020 that same cost $10,440.
- In 1989, the private nonprofit 4-year cost of tuition and fees was $17,860, while in 2019-2020 that same cost $36,880.
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What Is The Cost Of Room And Board
The cost of room and board depends on the campus housing and food plans you choose. Living at home with parents will reduce your costs. For the 2020-2021 academic year, average room and board costs are
- $13,120 at private colleges
- $11,620 at public colleges
Some colleges provide room and board estimates for living off-campus. At public colleges, room and board costs are usually the same for in-state and out-of-state residents.
Source: College Board, Trends in College Pricing and Student Aid, 2020.