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The Cost of Attending College Today

THE COST OF ATTENDING COLLEGE TODAY A college degree may be considered a ticket to better opportunities and a more lucrative professional life, but it's no secret that it can also saddle you with thousands of dollars in debt. That's not surprising, considering the median cost of tuition and fees was $9,418 this academic year. Those attending private four-year colleges, however, can pay nearly four times as much. 2010 Tuition and Fees + Room and Board 2009 Tuition and Fees + Room and Board PUBLIC TWO YEAR COMMUTER PERCENT DISTRIBUTION OF ENROLLED UNDERGRADUATE STUDENTS BY SECTOR 2010 $2,731 +6% Increase 2009 $2,558 Public Faur-Year (36% Private Nonprofit Four-Year (15%] Private For-Profit Four-Year (6%) PUBLIC FOUR-YEAR / IN STATE / ON CAMPUS Public Two-Year (41%) 2010 $15,212 Private Nonprofit Two-Year (>1%) 6.1% Increase Private For-Profit Two-Year (2%) 2009 $14,300 PUBLIC FOUR-YEAR / OUT OF STATE / ON CAMPUS 2010 $28,130 5.6% Increase 2009 $26,646 PRIVATE FOUR-YEAR / ON CAMPUS 2010 $36,993 4.3% Increase 2009 $35.464 FOR PROFIT Room and board cost omitted 2010 $13,935 5.1% Increase 2009 $13,256 RISING COSTS Over the past decade, tuition and fees at public four-year colleges increased at an average 5.6% per year, surpassing the rate of inflation. As a result, the cost of attending public college has increased, from 22% of that of private school in 2000, to 28% in 2010. AVERAGE ANNUAL COST INCREASE BY DECADE • Private Four-Year • Public Four-Year • Public Two-Year 10% 9% 8% 5% 4% 3% 2% 1% 1980-81 TO 1990-91 1990-91 TO 2000-01 2000-01 TO 2010-11 PUBLISHED TUITION AND FEES VS. ACTUAL COST Although average tuition and fees have increased across the board over the past five years (24% for public four-year, 17% at private non-profit and 11% at public two-year institutions), the actual cost of college for most students, after factoring in grant aid, room and board, and federal tax benefits, declined in each of those sectors. Amount Covered by Aid ।।।।।।।।। ं $ Total After Aid $ Total Tuition + Room and Board PUBLIC TWO-YEAR $5,000 $10,000 $15,000 $20.000 $25,000 $30,000 1995-96 $920 $1,900 2000-01 $410 $2,070 2005-06 $20 $2,430 2010-11 -$670 $2,710 PUBLIC FOUR-YEAR $5,000 $10,000 $15,000 $20.000 $25,000 $30,000 1995-96 $1,540 $4.020 2000-01 $2,080 $4,430 2005-06 $1,990 $6,130 2010-11 $2,040 $7,610 PRIVATE NON-PROFIT FOUR-YEAR $15,000 $20,000 $25,000 $30,000 $5,000 $10,000 1995-96 $10,310 $17,460 2000-01 $12,230 $20,280 2005-06 $12,750 $23,410 2010-11 $11,320 $27,290 WHAT MOST STUDENTS ARE PAYING DISTRIBUTION OF TUITION AND FEES FOR 2011 • Public and Private Four-Year Combined • Public Four-Year • Private Four-Year 5% 10% 15% 20% 25% 30% 35% 40% $42,000+ $39,000 to $41,999 • $36,000 to $38,999 $33,000 to $35,999 $30,000 to $32,999 $27,000 to $29,999 $24,000 to $26,999 $21,000 to $23,999 $18,000 to $20,999 $15,000 to $17,999 $12,000 to $14,999 $9,000 to $11,999 $6,000 to $8,999 $3,000 to $5,999 Under $3,000 Source: trends.collegeboard.org mint.com Mint.com

The Cost of Attending College Today

shared by kevin on Mar 21
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Everybody knows college is expensive, but just how expensive? This infographic compares the cost of tuition, room and board at public vs private colleges for 2009 and 2010, and gives you the details o...

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Ross Crooks

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Economy
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