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The True Cost of College

REAL COST OF COLLEGE AVERAGE ESTIMATED FULL-TIME UNDERGRADUATE BUDGETS [2012-2013] Public Public Public Private 4 year in-State On Campus 2-Year 4 year out of state Nonprofit 4 Year On Campus Commuter On Campus 3,131 8,655 21,706 29,056 TUITION & FEES 7,419 9,205 9,205 10,462 ROOM & BOARD 1,229 1,200 1,200 1,244 BOOKS & SUPPLIES 1,648 1,110 1,110 957 TRANSPORTATION 2,157 2,091 2,091 1,570 OTHER EXPENSES 15,584 22,261 35,312 43,289 TOTAL EXPENSES SOURCES OF FINANCIAL AID UNIVERSITY PRIVATE ORGANIZATIONS COLLEGES & UNIVERSITIES GOVERNMENT The federal government and State government such as companies, clubs and religious organizations TYPES OF FINANCIAL AID THE BASICS $237 billion in financial aid given. $8.1 billion from state and private institutions. $13,218 the average amount that full time undergraduate students received. GRANTS SCHOLARSHIPS Grants are called gift aid Scholarships are rewarded for because they do not have to academic or athletic ability, be paid back. interest in a certain subject or volunteer work,etc. WORK-STUDY PROGRAMS The Federal Work-Study Program offers paid part-time jobs to help students pay for part of their college costs BANK LOANS Loans are borrowed money from a bank or government program that needs to be paid back with interest. SOURCES OF GRANT AID 44% 37% 9% 10% from the Federal from colleges and from State from Private Sectors Government universities Governments (up 12% in only 10 years) PELL GRANTS STUDENT BORROWING $113.4B • Central federal grant program • Funds low and moderate income students 24% higher than 5 years ago 9.4M Federal Stafford Loans Students 35% 37% of all undergraduates of undergraduate students $3.45B $6,676 total Pell Grant expenditures average Stafford Loan $3,685 $8.1B the average Pell Grant per recipient the amount of non-federal loans AVERAGE GRANTS/SCHOLARSHIP AWARDED PER STUDENT $14,200 =$2,000 $6,593 5,317 Private Private Public schools non-profit schools for-profit schools DEBT 2009 2010 2012 The first time student 67% loan debt surpassed credit card debt. of 2009 college graduates have debt. Average student left college with Total student loan debt DEBT exceeds $1 trillion, increasing $2,853 per $27,253 in debt second. SOURCES VARSITY TUTORS The College Board, Annual Survey of Colleges %24

The True Cost of College

shared by punkrobby on Apr 11
How much is the average American spending on higher education? More than you might expect. This infographic goes beyond tuition and offers a comprehensive breakdown of the real costs of college, as we...


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