Going to college is a huge decision that comes with pros and cons. Pros include new friends, new experiences, studying what you love, and a whole lot of self-growth.
On the other hand, cons include (most) cafeteria food, communal showers, and, oh yeah … the financial cost.
College isn’t cheap. Considering the financial cost of college before committing to pursuing higher education is critical. We’ll discuss average tuition rates in America and some other factors that can play into the total cost of attendance.
Note: We cover for-profit schools in this article, which aren’t on College Rover. But you can still glean valuable information from knowing the difference between for-profit and nonprofit colleges.
How much does college cost in America?
The average cost of attendance for four years at an in-state public university is $102,828 (while living on campus). That comes out to about $25,700 per year.
Of course, several factors go into the total cost of attendance.
For example, the cost of attendance is higher at private, nonprofit universities than at state schools: about $54,500 per year or $218,000 over four years.
Factors affecting college tuition costs
Several factors affect the cost of college tuition, like whether your school is public or private, in-state or out-of-state, and for-profit or nonprofit.
That might seem like a lot of mumbo jumbo at first, but we promise it’s not confusing. Let’s get into it.
Public vs. private colleges
One of the main factors that play into the cost of college is whether the school you attend is public or private.
Think of it like high school: You likely attended either a public school, funded through local taxes, or a private school, which you had to pay for through tuition and/or scholarships.
Similarly, public universities are partially funded by the state, so your tuition payment will be much lower.
On the other hand, private universities are their own businesses. So, costs are often much higher than at state universities: around $54,500 per academic year at a nonprofit private institution versus about $25,700 for a public, in-state school.
But public versus private shouldn’t influence the quality of your education.
You may think private schools get all the prestige, but there are plenty of public schools whose reputations precede them, such as the University of Michigan, the University of California, Berkeley, and the University of Texas at Austin.
In-state vs. out-of-state students
There’s one caveat: Public colleges only offer lower tuition to in-state students. Most allow out-of-state residents to apply but must pay a higher out-of-state tuition.
For example, if you’re from Louisiana but want to attend the University of California, Berkeley, you’ll have to pay an extra $29,754 in tuition per year — which isn’t easy to overlook.
On average, out-of-state students at four-year schools pay an average of $27,000 in tuition costs and required fees per academic year. In comparison, in-state students pay an average of around $9,400 in tuition and fees.
In-state tuition isn’t a thing at private schools. Private universities offer every student the same tuition and fees (before accounting for student aid).
For-profit vs. nonprofit colleges
Finally, there are for-profit and nonprofit colleges.
Nonprofit colleges reinvest the money they make back into the institution. On the other hand, for-profit colleges are businesses trying to make a profit to distribute among shareholders, investors, and owners.
Some of the biggest for-profit colleges are DeVry University, Strayer University, the University of Phoenix, and even the American Public University System.
(Yes, we realize that the last one sounds misleading.)
On average, private for-profit colleges cost more than public nonprofit colleges but less than private nonprofit colleges. However, they tend to offer less financial aid and scholarships than private schools and can shackle borrowers with more debt.
U.S. college students are also more likely to default on student loans than those attending similar public schools.
Average tuition cost for a two-year degree
Community colleges and other two-year institutions also offer associate degrees and certificates.
The average cost of tuition for a two-year degree is:
- $7,724 at a public two-year school, such as your local community college
- $31,530 at a private for-profit school
- $35,936 at a private nonprofit school
Average tuition cost for a four-year degree
The average college tuition for a bachelor’s degree is:
- $9,375 at four-year public schools
- $35,852 at four-year private nonprofit schools
- $15,442 at four-year private for-profit schools
Average tuition cost for a master’s degree
Master’s degree programs generally take one to three years to complete. The average tuition cost for a master’s degree per academic year:
- $12,394 at public schools
- $28,445 at private nonprofit schools
- $14,301 at private for-profit schools
College costs outside of tuition
Tuition isn’t the only cost associated with going to college, though. The total cost of attendance includes living expenses and personal expenses. These costs aren’t always included in the school’s “sticker price.”
Here’s what undergraduate students should consider.
Housing
You know the “room and board” they always talk about in college? Well, housing is the “room” part, and it can be pretty expensive.
The average cost of room and board for on-campus students at a four-year institution (this includes your meals) was $12,057 during the 2020-21 academic year.
You may save money by moving off-campus, although your rent will depend on where you live and your number of roommates. Or you can save big on living expenses by living with your parents. Sure, it might not be the “cool” option, but graduating without student loan debt is the coolest of cool.
Books and learning materials
Before leaving for college, you might wonder, “How expensive can textbooks really be?” The answer is: very. The average postsecondary student spends an average of $1,226 on books and supplies annually.
But there are several ways to be thrifty — from renting materials to buying used books.
Dining or meal plans
Here’s the “board” part of “room and board.” Like housing, the cost of dining and meal plans can depend on the type of plan you choose, how much you eat out, and how much you cook at home. You can save money on board costs by canceling your dining plan once you move off-campus.
Transportation
Transportation includes the cost of your personal vehicle and public transit. Many campuses are walkable or bikeable, and many offer free campus buses.
However, students living in a large city like New York will probably need to budget for a metro card and some cab rides.
Technology
You might need to invest in certain tech, depending on your major. This can include computers, phones, tablets, and calculators. You should also factor in the cost of tech help and possible replacements.
Clothing
College students might wear pajamas to class occasionally, but you’re unlikely to go several years without buying new clothing. Remember to budget for clothing if you’re moving to a new climate and don’t have the necessities, like snow boots or a winter coat.
Insurance
It’s a boring topic, but college students need insurance. You can coast if you’re young enough to stay on a parent’s health care plan. But if your parents don’t have health insurance or you’re looking to get your own, you might be able to get a plan through your university.
Phone and internet bills
You’ll also need to pay for your phone and Wi-Fi if you live off-campus. The average phone bill in America is about $114 a month, and the average Wi-Fi plan is about $37 a month.
But if you’re asking us, we say mooch as long as possible.
Fraternities and sororities
You’ll have to pay regular dues if you join a Greek organization. Dues vary widely depending on your school and organization but generally cost between $300 and $600 per semester.
Study abroad
Studying abroad is a great way to expand your horizons, but it can also be expensive, generally ranging from $7,000 to $15,000. However, you might be able to apply your financial aid and scholarship to your study abroad program.
Need assistance comparing schools? College Rover can help
Ready to start searching for colleges (if the cost hasn’t scared you away)?
College Rover can help you find your dream school. Our search tools let you filter by location, school type, and even the cost of attendance.
Once you find schools you’re interested in, you can use our head-to-head comparison tool to compare each school’s information in one place.
