College Tuition: List Price vs. Actual Tuition Cost

ScholarshipExperts.com Fast. Easy. Free. THE TRUE COST OF COLLEGE A look behind the hidden expenses and funding costs to find the real cost of higher education COLLEGE TUITION MODERATE BUDGET FOR ONE YEAR S42.442 S21.447 NOT-FOR-PROFIT PRIVATE COLLEGE PUBLIC UNIVERSITY AVERAGE PUBLISHED ONE YEAR COST 40,000 $37,000 List Price 35,000 30,000 25,000 tuition & fees, $21,000 minus aid 20,000 Actual Price $16,000 List Price 15,000 $10.000 huition & feos, gminus ajd 10,000 Actual Price 5,000 NOT-FOR-PROFIT PRIVATE COLLEGE PUBLIC UNIVERSITY TOP 10 MOST EXPENSIVE NOT-FOR-PROFIT PRIVATE COLLEGES (Tuition & Fees Per Year) ***....... Connecticut College, CT ...... $43,990 Sarah Lawrence College, NY $43,564 Columbia University, NY $43,304 Vassar College, NY $43,190 George Washington University, DC $42,905 Trinity College, CT $42,420 Bucknell University, PA $42,342 St. John's College, MD $42,192 St John's College, NM $42,192 Carnegie Mellon University, PA $42,136 TOP I0 MOST EXPENSIVE PUBLIC COLLEGES (Tuition & Fees Per Year) Pennsylvania State University in University Park, PA $15,250 University of Pittsburgh in Pittsburgh, PA $14,936 University of Vermont in Burlington, VT $14,066 University 'of New Hampshire in Durham, NH $13,672 ....... . St Mary's College of Maryland in St. Mary, MD $13,630 Colorado School of Mines in Golden, CO $13,425 New Jersey Institute of Technology in Newark, NJ $13,370 The College of New Jersey in Township, NJ $13,293 Pennsylvania State University in Altoona, PA $13,250 Pennsylvania State University Berks in Reading, PA $13,250 COLLEGE TUITION INCREASES up 8.3% up 8.7% 2011 - 2011 - 2010 - 2010 - Public two-year schools charged an average of About 80% of the nation's undergraduates attend public institutions Public four-year universities charged residents an average of $8,244 year /year Room and board has Economists predict the cost of attending state colleges will soar to $120,000 for 4 years" вЫm gone up 5.3% per years Over the decade from 2000-01 to 2010-11, average published tuition and fees at public four-year colleges rose 72% after adjusting for inflation Since 1981, the list price tuition and fees charged by American four-year colleges and universities (public and private combined) has risen at an annual rate of 7.1% Posted tuition has jumped 25% in the last 3 years' 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 NET COSTS Many times the published cost of attendance is far more than what families end up paying. Federal, state and school grants can help to lower the overall "sticker price" significantly PUBLIC FOUR-YEAR SCHOOL PRIVATE NOT-FOR-PROFIT FOUR-YEAR SCHOOL $40,000 $37,000 $30,000 $21,000 $20,000 $16,000 $10,000 $10,000 Listed Tuition & Fees Net Cost (after financial aid) Listed Tuition Net Cost & Fees (after financial aid) 6 In 10 famlles rule out some colleges because of sticker price, yet many do not know that the "net price" is typically far lower MAXIMIZE AID: TRUE COST EXAMPLES The total sticker price for Stanford and Cal State Long Beach is $55,918 and $20,675 respectively. However, the cost can be nearly one tenth for low-income students with significant aid 60,000 50,000 The Manufacturers Suggested Retail Price should be 40,000 $55,918 The Ma Suggested Retail Price should be 30,000 and the "True Cost with Aid For Low Income Students" can be $20,675 20,000 nd the True Cost with Ad For Low Incorme Student $4,496 10,000 SALE PRICE SALE PRICE $3,593 On average, students end up paying about half of the posted total price TRUE COST FACTS The large majority of private college students do not pay the listed tuition price, About two-thirds of students pay for college with the assistance of grant aid14 In the 2011-2012 academic year, the average net cost for a full-time student at an in-state public university was about $15,000 for tuition, fees, room, board, books, and incidental expenses + TI)+ = SI5,000 Tuition & Fees Room Board Books Incidental Expenses More and more, colleges are offering e-books which can be accessed through library websites (either on-campus or off) BOOKS E MORE The average cost for books and supplies for the 2011-2012 school year": **....... public colleges $1,168 private colleges $1,213 The average cost for room and board for the 2011-2012 school year": This includes on-campus housing and some sort of meal plan public colleges $8,887 private colleges $10,089 DEBT 2012 In 2012 the average college student left school with $26,600 With student loan debt now growing at a rate of 52,853 I SECOND, it passed $1 trillion in 2012* IN DEBTS 2011 2010 was the first time Credit Card student loan debt had surpassed credit card debt 0000 12 S000 2010 67% of 2009 graduates have debt2 2009 REFRENCES: 1 http://www.tctimes.com/news/annual-cost-of-college-for-those-born-in-to/artide 81412672-ac29-1lel-9d33-0019bb2963f4.html 2 http://www.chron.com/business/article/True-cost-of-college-soon-just-clicks-away-2208754.php 3 http://www.nytimes.com/2011/06/30/education/30collegeweb.html 4 http://www.usatoday.com/news/education/story/2011-10-25/public-college-costs-increase/50919598/1 5 http://www.insidehighered.com/views/2010/10/19/feldmantixzlwqb2jLST 6 http://chronicle.com/blogs/innovations/the-real-price-of-college-looking-beyond-the-sticker/27769 7 http://inflationdata.com/inflation/inflation_articles/Education_Inflationasp 8 http://www.aei.org/artide/nothing-but-net-helping-families-leam-the-real-price-of-college/ 9 http://www.mnprivatecolleges.org/how-pay/what-does-it-cost 10 http://money.cnn.com/101/college-101/college-cost.moneymagindex.htm?id=PF_college101 11 http://www.collegedata.com/cs/content/content_payartide_tmpl.jhtmltarticleld=10064 12 http://www.anbc.com/id/40680905 13 http://money.cnn.com/2012/10/18/pf/college/student-loan-debtlindex.html 14 http://trends.collegeboard.org/sites/default/files/college-pricing-2012-full-report_0pdf