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Expert Advice
"As a rule, the more selective the institution, the more extracurriculars, leadership, recommendations, and things of that nature come into play." Read about selectivity George W. Dixon, North Carolina State U., Admissions
Here's the bad news: there's no escaping the fact that college prices are rising. According to recently released reports from the College Board, most students and their families can expect to pay, on average, from $172 to $1,096 more than last year for this year's tuition and fees, depending on the type of college.
Believe it or not though, there is good news. There is more than $168 billion in financial aid available. And, despite all of these college price increases, a college education remains an affordable choice for most families.
Sticker Price vs. Affordability
Although some of the college price tags you hear about can be quite daunting—$35,000 or more for yearly tuition and fees—most colleges are more affordable than you might think. For example, did you know that about 53 percent of students at four-year schools pay below $9,000 for tuition and fees? After grants are taken into consideration, the net price the average undergraduate pays for a college education is significantly lower than the published tuition and fees. And remember, other forms of financial aid will further reduce the amount your family will actually pay.
Average College Prices 2009-10
But Did You Know That...
Private four-year $26,273 (up 4.4 percent from last year)
Public four-year $7,020 (up 6.5 percent from last year)
About 19 percent of students enrolled in private four-year colleges attend institutions that charge tuition and fees below $18,000.
32 percent of full-time students enrolled in public four-year colleges and universities attend institutions that charge tuition and fees between $3,000 and $6,000.
While private four-year institutions have a much wider range of tuition and fee charges, only about 20 percent of all students attend colleges with tuition and fees totaling $36,000 or higher per year.
Public two-year $2,544 (up 7.3 percent from last year)
31 percent of all full-time students attend public two-year colleges.
Students will pay, on average, from $377 to $420 more than last year for this year's room and board, depending on the type of college.
The average surcharge for full-time out-of-state students at public four-year institutions is $11,528.
More than $168 billion in financial aid is available to students and their families.
About two-thirds of all full-time undergraduate students receive grant aid. In 2009-10, estimated aid in the form of grants and tax benefits averaged about $3,000 per student at public two-year colleges, about $5,400 at public four-year colleges, and about $14,400 per student at private four-year colleges.
Note: Cost and aid figures are from the College Board's Trends in College Pricing 2009, Trends in Student Aid 2009, and Education Pays 2007. Learn more online at our Trends in Higher Education website.
