Study Finds the Average Cost of a Four-Year Degree in the U.S. Now Tops $300,000
“These costs are split among a number of expenses that students incur throughout their time at university, including rent, groceries, and course materials.”
When are we going to address this unsustainable situation? When the cost reaches half a million?
The College Fix reports:
Average cost of obtaining four-year degree in U.S. now tops $300,000: study
When looking at the cost of college, often people review tuition and fees. But what happens when food, rent, supplies and other living expenses are factored in? One company did just that.
“The average total cost of being a student for four years in the U.S. is $307,658,” according to the study by Self Financial. “These costs are split among a number of expenses that students incur throughout their time at university, including rent, groceries, and course materials.”
Obtaining a four-year degree at Columbia University in New York City can cost around $514,442 when factoring in costs such as living expenses and groceries, according to the new study, which added the Manhattan campus is the most expensive to attend in America.
The four other universities rounding out the top five on the most expensive list are New York University at $497,402, Georgetown in Washington D.C. at $472,817, Harvard in Boston at $472,027, and California Institute of Technology in Pasadena at $458,330.
While the most expensive colleges and universities are located in coastal locations known for their high cost of living, many fly-over states house the most affordable universities, according to the study.
The most affordable colleges and universities, according to the study, are: Brigham Young University in Utah at $138,528; Western Governors University in Utah at $143,591; Minot State University in North Dakota at $151,572; Purdue University–West Lafayette in Indiana at $154,952; and New Mexico State University at $155,304.
The totals are for the full price of tuition.
The study was commissioned by Self Financial, a technology credit company, using data from various online sources: “This analysis has reviewed 200 universities (the top four in each state) and 18 different data points to determine the most expensive and the most affordable university for students.”
Darren Kingman at Root Digital, which conducted the research on behalf of Self Financial, said the study shows “it is not just tuition fees that impact how expensive college life can be.”
“The price of rent, academic supplies, and living expenses vary for students attending different colleges, and these all impact the overall cost. While Harvard’s tuition fees are slightly less than those of schools like Caltech and Yale, rent for on-campus and local accommodation costs more for Harvard students, driving up the total cost over four years,” he told The College Fix via email.
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Comments
Wow, and they didn’t even include the costs of:
(i) beginning to learn real job skills at age 22,
(ii) psychological deprogramming,
(iii) realizing that you and your family chose for you to waste the best years of your life,
(iv) relearning how to make friends again, romantic and otherwise—you know, with normal young adults.
“The totals are for the full price of tuition”
What does this mean? Out of state tuition since in state is subsidized?
Also, to be clear, these living expenses are not part of the cost of attending college. They are the cost of living that accrue parallel to college experiences. What I mean by that is that these individuals would probably pay this much or more if they weren’t in college (unless they are reckless borrowers). If one gets a job, then these expenses can be at least partially ameliorated as well.
Yes, exactly. The student would have to eat even if not a student.
My annual cost at Oberlin from 75-79 was around $6500. Back then I could pull in $3000 a summer working my butt off. So lets say 40% of the cost of a fairly expensive school at the time. So show me any students these days who could pull in $30K over the summer (40% of a $75K annual cost). If my son had chosen to work at the city pool as a manager (much seniority) he could have pulled in $9500. Basic math skills tell me that one of these numbers is growing way faster than the other.
It’s a whole cheaper to learn carpentry, plumbing, being an electrician, welding and being an auto-mechanic. There is also the plus of not having to listen to moronic Leftist professors ranting about people or things they don’t like.
And you can still go to college.
Just saying.
When the government stops subsidizing it. Subsidies always benefit the provider, not the consumer.
And you get a degree in WOKE living in most of todays institutions of being programmed.
True, but disingenuous.
I have grands starting LSU soon so I looked it up. It said it was over $140k.
Then I looked closer.
Tuition and books is $13k per year, $52k for 4 years. Substantially more than when I went there but inflation says that is the same as $2,500 or $10k in 1977 dollars.
The balance $90k is room and board plus miscellaneous.
LSU has a 4 year Unlimited Meal Plan that costs $1,300 per year.
Don’t live alone, don’t do extravagant things and get a job. Take grants, but not loans.
A friend’s child wanted to go to an out of state school with a special program. In June after HS, she moved to that city and got off all the plans from her parents. Taxes, insurance, everything.
Got a part time job at the University. NO classes in Summer or Fall. Moved to a full time in the Fall.
As an ft employee, she registered in the Spring, free part time tuition.
As a full time in State 1 year employee, she received free ft tuition in the Fall.
Long story, she finished her Graduate Degree with no student loans. Her friends and roommates all had > $100k loans.